Positively Impact Seniors for Generations To Come…Create Your Legacy!
Estate Planning Should Be Rewarding and Impactful!
Through the years, legacy gifts from caring, passionate supporters have played a vital role in the Council On Aging’s (COA) success. Many of our donors choose to continue supporting COA through their estate planning. By simply remembering COA in your will and/or beneficiary designations on your IRA, 401K, Life Insurance, or other similar accounts, you can make a transformative gift that will ensure seniors in our community are able to live their best possible lives with dignity and independence for generations to come.
Mary Peck’s Wish
Mary Peck’s wish was to renovate her bay front home, so older adults could enjoy the bay view that she had loved during her lifetime. Unfortunately, her home was not suitable to serve that purpose. Knowing we were planning River House, Catholic Charities, who was responsible for carrying out Mary’s wish, gave the proceeds of her estate to COA. That legacy gift laid the cornerstone to construct River House, a state-of-the-art, nationally accredited senior center built on the bay overlooking the Matanzas River, St. Augustine Lighthouse and Bridge of Lions.
We have received other planned gifts that have helped increase the level & number of quality programs and services offered by COA, and there is so much more to do.
Please join us and our generous donors. Make a difference in the lives of seniors for generations to come! Leaving COA in your will or beneficiary designation will not impact you financially while you are alive, and can be altered if necessary in the future.
Continue reading or call your financial planner, elder lawyer, or COA to learn about for different ways you can leave a legacy in your community.
Sample Language for your Will
A gift to the St. Johns County Council on Aging, Inc. (COA) in your will or revocable trust proclaims your confidence that we will continue to serve our mission and make a difference in the lives of future generations.
Remembering COA with a gift in your will:
• Is easy to arrange.
• Will not alter your current lifestyle in any way.
• Can be easily modified to address your changing needs.
Residual Bequest Language
A residual bequest comes to us after your estate expenses and specific bequests are paid:
I give and devise to St. Johns County Council on Aging, Inc. (EIN: 59-1525829), a nonprofit organization with headquarters in St. Augustine, FL, all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific affiliate, fund or program).
Specific Bequest Language
Naming COA as a beneficiary of a specific amount from your estate is easy:
I give and devise to St. Johns County Council on Aging, Inc. (EIN: 59-1525829), a nonprofit organization with headquarters in St. Augustine, FL, the sum of $___________ to be used for its general support (or for the support of a specific affiliate, fund or program).
Contingent Bequest Language
COA can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
If (insert name) is not living at the time of my demise, I give and devise to St. Johns County Council on Aging, Inc. (EIN: 59-1525829), a nonprofit organization with headquarters in St. Augustine, FL, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific affiliate, fund or program).
Life Insurance and Retirement Plan Beneficiary Language
You may name COA as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.
Naming COA as the beneficiary of a life insurance policy or qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming COA as a beneficiary of a life insurance policy or retirement plan, the donor maintains complete control over the asset while living, but at the donor’s death the plan passes to support COA free of both estate and income taxes.
Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change of beneficiary form from your plan administrator. When you are done, please return the form to your plan administrator and notify Tom Torretta, Development Director at COA.
Please use the following if you wish to make COA a beneficiary:
• Legal name: St. Johns County Council on Aging, Inc.
• Address: 180 Marine Street, St. Augustine, FL 32084
• Tax ID Number: 59-1525829
Remember to keep your beneficiary designation forms up-to-date, as well as your will or trust, to ensure they are consistent and reflect your current wishes.
If you or your attorney would like COA to provide you with customized beneficiary language that is specific to your goal and interest, please contact Tom Torretta, Development Director at COA at email@example.com or 904-209-3700.
Please call or email, so that we can assist you through every step of the process.
Other Ways to Give Through Your Estate
There are several other types of gifts you can give COA that will benefit both COA and you and/or your beneficiary including charitable gift annuities, charitable remainder trusts, charitable lead trusts and many more. Your financial advisor or elder law attorney can help guide you toward the best solution for you.
If you believe strongly in the work being done by the Council on Aging (COA), and want to be part of the future of our success, please consider COA when you are doing your estate planning.
…And, thank you for your kindness and for caring about the seniors in our community who will benefit from your generosity!