A Legacy of Hope
“I sponsored Marleny, and she became the first in her family to graduate from high school. This enriched not only her life, but also the life of her daughter, whom she made sure to send to school. I have included Xela AID in my estate plans so I can help enrich the lives of children in need, like Marleny, for many generations to come.”
—Board Member Kathy Burt
A Gift from Your Will or Trust
With a will or trust, you control the distribution of your assets. Without a will or trust, your state bureaucracy will determine the distribution, most likely not in the manner you wish. A will or trust can allow you to provide both for your family and those served by Xela AID. Because Xela AID is recognized by the Internal Revenue Service as a tax-exempt charity, naming Xela AID in your will or trust may save estate taxes, making it possible for your family to receive more.
Two examples of wording you can use for your will or trust:
1. To give an outright gift:
“I bequeath to Xela AID Partnerships for Self-Reliance, EIN #45-3658025 (a.k.a. Local Hope) the sum of $________.”
2. To give an outright gift; or the gift of a share of the residual of an estate after all debts, expenses and other legacy gifts are subtracted:
“I give, devise and bequeath to Xela AID Partnerships for Self-Reliance, EIN #45-3658025 (a.k.a. Local Hope) all (or _______%) of the rest, residue and remainder of my estate.”
Other Ways to Create Your Legacy
Naming Xela AID as a beneficiary of a life insurance policy no longer needed by your family will benefit Mayan families with critical needs after you are no longer able to give direct gifts.
Naming Xela AID as the beneficiary of a bank account, brokerage account, mutual fund account or certificate of deposit allows you to use these accounts as needed during your lifetime. Afterward, the remaining funds will go to Xela AID.
Naming Xela AID as a beneficiary to your IRA, 401(k), 403(b), pension or profit-sharing plan allows you to spend your retirement funds as you choose during your lifetime. Afterward, the remaining funds go to Xela AID to serve those in great need. If family members other than a spouse inherit these plans, they may have to pay both federal estate and income taxes. Because Xela AID is a tax-exempt organization, no taxes will be due, and the assets you worked so hard to accumulate will go to funding your legacy instead.
You can donate property to Xela AID and likely realize substantial tax benefits.
“I hereby give, devise and bequeath all of the rights, title and interest in and to the real estate located at (address or property description) to Xela AID Partnerships for Self-Reliance (a.k.a. Local Hope), a nonprofit organization located at 111 West Ocean Boulevard, 4th Floor, Long Beach, CA 90802; Federal Tax I.D.# 45-3658025, for Xela AID’s general use and purposes.”
Real Estate, with Tax Benefits and Lifetime Income
You may be able to donate property to Xela AID, realize tax benefits now, and draw an income during your lifetime, after which the property passes to Xela AID. We can help you set this up.