Plans From Your Estate (Bequests)

 

A charitable bequest is one of the easiest ways you can leave a lasting impact on the Foundation.  The following are three types of bequests: 
  • Wills or Living Trusts 
  • Retirement Plans 
  • Life Insurance 
These financial contributions are made to the Foundation which has §501(c)(3) nonprofit status and is tax deductible as allowed by law.  The tax id number is 52-1100429.  
 
How Do I Include the Foundation in My Will or Living Trust? 
  1. If you are writing your will or living trust, you will need to include specific language that correctly identifies your support of the Foundation. 
  2. If you already have a will, you can add a codicil or amendment to your existing estate plan. Or, if you already have a living trust, you can modify the language, directing your trustee to make the desired distributions. 
Click here for sample language to use for your bequest (pdf) 
 
How Do I Include the Foundation in My Retirement Plan? 
  1. Contact the NSA to discuss your plans and obtain the proper designate language. 
  2. Request a beneficiary form from your retirement plan administrator. 
  3. Identify the Foundation as a beneficiary of your plan. 
  4. Include the Foundation Federal Tax ID Number 52-1100429 on your beneficiary form. 
  5. Return the completed form to your retirement plan administrator. 
  6. Provide a copy of your completed beneficiary form to NSA. 
How Do I Give the Foundation Life Insurance? 
  1. Designate the Foundation as a beneficiary of your life insurance policy; or 
  2. Give the Foundation a fully paid life insurance policy that you no longer need; or 
  3. Purchase a new policy and name the Foundation as the owner and beneficiary. You will then be asked to contribute the equivalent of the annual premium payment to the Foundation. This premium contribution is tax deductible and is used by the Foundation to pay the insurance premium.
Let us thank you. Notify the NSA of your planned gift. (pdf)
 
For questions, please contact giftplanning@sheriffs.org. 
 
The National Sheriffs’ Association does not provide legal, tax or financial advice. We strongly recommend that you consult professional advisors on all legal, tax or financial matters, including gift planning considerations. To ensure compliance with certain IRS requirements, we disclose to you that this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding tax-related penalties.