Wills, Bequests, and Estate Gifts
Wills and Bequest Gifts
Many people would like to help strengthen the long-term viability of PetAid Colorado but feel they cannot afford to make such a gift today. A bequest by will is a unique way to ensure that PetAid’s work will continue into the future. Your bequest can be tailored to complement your personal lifestyle and financial goals and support PetAid.
For questions about leaving PetAid Colorado in your will, view our Planned Giving Information Sheet.
If you are considering your estate plans and want to learn more about how you can support PetAid Colorado, contact Sharon Kay Brown, Chief Development Officer, at 303.539.7635 or firstname.lastname@example.org to discuss confidentially.
As with any decision involving your estate plans, we urge you to seek the advice of professional counsel when considering a gift to PetAid Colorado.
Donate an Insurance Policy
A gift of a life insurance policy you no longer need makes a perfect year-end gift. To qualify as a deductible gift, PetAid Colorado must become the policy owner. For most types of insurance policies, your tax deduction is usually the cost basis or the fair market value of the policy — whichever is less.
Payable on Death Assets
A payable on Death account, or POD account for short, is a special type of bank account that is recognized under U.S. state law. POD accounts can be set up for checking accounts, savings accounts, money markets, and certificates of deposit as well as U.S. savings bonds.
A POD account allows for the money remaining in the account when the account owner dies to pass to directly to the beneficiaries named by the account owner.
This will happen outside of probate and in general all that the beneficiaries of the POD account will have to do in order to gain control of the account after the owner dies is to show the bank manager an original death certificate for the owner. The money remaining in the POD account will then be paid to the beneficiaries named by the account owner in the beneficiary designation form on file with the bank. It is important to understand that the bank account will pass to the POD beneficiaries even if the POD account owner had a last will and testament or revocable living trust and regardless of what the will or trust says.