Planned Giving to Fundamaya, Wills, Securities and Trusts
Thank you for considering a gift to Fundamaya!
Including a gift in your will, living trust, or estate plan, can be an inspiring way to connect and protect
the students and families in Guatemala you love into the future. Gifts of all sizes help to make a tangible
difference, and maximize tax benefits for you and your family. When the time is right for you, please
consider making a long-term impact through a legacy gift to Fundamaya.
WHERE TO START?
Creating a legacy gift is a thoughtful process that will benefit from professional
advice. A financial advisor can help you to determine how best to look after you and your loved ones’
needs and priorities, and approximately how much you may be able to pass on to a charity and how. A
lawyer can help you to create or update your will or plans. We recommend that you discuss your
intention to include a legacy gift with both your financial advisor and your lawyer.
WHAT TYPE OF GIFT IS RIGHT FOR YOU?
One of the simplest ways that you can include a legacy gift is
through a bequest. Bequests have no impact on your current lifestyle and can be updated at any time,
providing you flexibility for unanticipated expenses or life events. There are two main types of bequest:
1. A Residual Bequest - leaving a percentage of the residue of your estate You can name the residue of
your estate as a whole, or as a proportion using percentages. The residue is what remains after taxes,
administrative expenses and your heirs have received their specific gifts or proportion. An advantage is
that as your circumstances change, your will does not have to be altered, as the proportion remains the
Sample wording: “I bequeath _______% of the residue of my estate to Fundamaya* (US tax
identification number 85-3703498; principal address Fundamaya 2609 Hartford St, San Diego, California
U.S.A. 92110-2315, to support its ongoing work.”
2. A Specific Bequest - leaving a specific dollar amount, percentage of your overall estate, or piece of
property such as real estate or artwork.
Sample wording: “I give the sum of $____________ (or % of my overall estate, or description of
property) to Fundamaya, (US tax identification number 85-3703498; principal address Fundamaya 2609
Hartford St, San Diego, California U.S.A. 92110-2315, to support its ongoing work.”
You can also include “contingent” provisions in your will that any gift will only take effect if a primary
beneficiary does not survive you. A lawyer will be able to help with this wording. *any legal document
should include our full name and tax identification number.
OTHER GIFT OPTIONS:
There are other options beyond gifts of cash, including those that provide you
with an income in your lifetime. A few of these are outlined below. To understand which may be best for
your own needs and wishes, we recommend that you speak to a lawyer or financial advisor.
Life Insurance Policy. You can name Fundamaya as the beneficiary of a policy (including a policy from
your workplace). In many instances, you can also make an outright gift of a new or existing policy, which
may provide you with tax benefits. Bear in mind that regulations on this can be location-specific.
Retirement Plans – including IRAs (U.S.) and RRSPs/RRIFs (Canada) By naming a charity such as
Fundamaya as a sole or joint beneficiary of your retirement plan, you can pass on the remaining balance
of these investments after your passing. This can offset any tax payable on these by your estate. You can
change your designations at any time simply by contacting your retirement plan administrator for a
change-of-beneficiary form. You can also make us the contingent beneficiary, so that we will only
receive the balance of your policy if your primary beneficiary does not survive you.
Charitable Remainder Trusts. This can be a great way to support a cause you are passionate about, while
securing an income for yourself and/or family members during your lifetime(s). Charitable remainder
trusts can be funded with cash, securities, or real estate, and can offer substantial tax benefits. Assets
are placed with a trustee (individual or entity) capable of managing them expertly, providing a reliable
income while keeping the capital intact for a future gift.
IN THE U.S. ONLY Charitable Lead Trusts This is often referred to as the opposite of a charitable
remainder trust. A charity like Fundamaya receives the payments for each year the trust is in existence,
and at the end of the trust term, what is left is returned to you or to your heirs - a great way to transfer
substantial assets while minimizing gift and estate taxes. IRA Charitable Rollover (also known as a
qualified charitable distribution or QCD) If you are 70½ years old or older, you can give any amount up
to $100,000 per year from your IRA directly to a qualified charity like Fundamaya, without having to pay
income taxes on the money, so you benefit even if you do not itemize your deductions. By reducing your
income level, there can also be other income-related benefits.