Remembering HSHC in Your Will or Life Insurance Policy
Leaving HSHC in your will
A gift to the Humane Society of Henderson County in your will provides your estate with an unlimited tax deduction. HSHC can be a beneficiary in several ways - as the recipient of an outright gift, either in a designated amount or as a percentage of your estate or as a residuary beneficiary to receive the balance of your estate after specific amounts have been paid to other beneficiaries. You can add HSHC to your current will through a codicil without re-writing your entire will.
Sample wording for bequests in your will would be:
Specific Bequest
"I hereby give and bequeath to the Humane Society of Henderson County, KY, a non-profit Kentucky corporation whose principle office is located at 203 Drury Lane, Henderson, KY 42420, Tax I.D. # 61-6053026, the sum of $_______ to be used for its general purposes."
* For a gift other than cash, simply describe the asset(s)
** For a gift to be used for a specific purpose, delete “its general purposes" and specify the purpose you intend.
Residuary Bequest
"I hereby give and bequeath to the Humane Society of Henderson County, KY, a non-profit Kentucky corporation whose principle office is located at 203 Drury Lane, Henderson, KY 42420, Tax I.D. # 61-6053026, all the rest, residue, and remainder of my estate, both real and personal, after providing for the specific provisions of this Will to be used for its general purposes."
* For a gift of less than 100% of the rest, residue, and remainder of the estate, delete "all" and state the fraction.
Life Insurance
There are several ways to donate to the Humane Society of Henderson County using life insurance. They can be policies that are paid in full, partially paid, or newly purchased. HSHC can be named as owner and beneficiary for your fully paid policy. You may deduct the replacement cost of the policy from your taxes. You can also designate HSHC as the beneficiary of the policy you already have. There is no immediate deduction, but your estate will receive a deduction equal to the amount of the policy when settling.
A gift to the Humane Society of Henderson County in your will provides your estate with an unlimited tax deduction. HSHC can be a beneficiary in several ways - as the recipient of an outright gift, either in a designated amount or as a percentage of your estate or as a residuary beneficiary to receive the balance of your estate after specific amounts have been paid to other beneficiaries. You can add HSHC to your current will through a codicil without re-writing your entire will.
Sample wording for bequests in your will would be:
Specific Bequest
"I hereby give and bequeath to the Humane Society of Henderson County, KY, a non-profit Kentucky corporation whose principle office is located at 203 Drury Lane, Henderson, KY 42420, Tax I.D. # 61-6053026, the sum of $_______ to be used for its general purposes."
* For a gift other than cash, simply describe the asset(s)
** For a gift to be used for a specific purpose, delete “its general purposes" and specify the purpose you intend.
Residuary Bequest
"I hereby give and bequeath to the Humane Society of Henderson County, KY, a non-profit Kentucky corporation whose principle office is located at 203 Drury Lane, Henderson, KY 42420, Tax I.D. # 61-6053026, all the rest, residue, and remainder of my estate, both real and personal, after providing for the specific provisions of this Will to be used for its general purposes."
* For a gift of less than 100% of the rest, residue, and remainder of the estate, delete "all" and state the fraction.
Life Insurance
There are several ways to donate to the Humane Society of Henderson County using life insurance. They can be policies that are paid in full, partially paid, or newly purchased. HSHC can be named as owner and beneficiary for your fully paid policy. You may deduct the replacement cost of the policy from your taxes. You can also designate HSHC as the beneficiary of the policy you already have. There is no immediate deduction, but your estate will receive a deduction equal to the amount of the policy when settling.
