Planned Giving (Estates)

Whether supported through an outright gift or planned gift, the existence of the Humane Society of Somerset County is made possible through the generosity and commitment of people like you. A planned gift to the shelter helps to ensure the future of the services and programs we provide in your community and may further your financial goals.

What are planned gifts?

Planned gifts include gifts through your will, charitable gift annuities, gifts of life insurance, pooled income funds, and charitable trusts.

Bequest

Many of our supporters make charitable gifts by naming the Humane Society of Somerset County as a beneficiary in their wills.

How to include the Humane Society of Somerset County in my will...

Many of our supporters make charitable gifts by naming the Humane Society of Somerset County as a beneficiary in their wills. The federal government encourages these gifts or bequests, by allowing an unlimited estate tax charitable deduction.

How to contact the Humane Society of Somerset County regarding estate information

If you are administering an estate or trust and need more information, please contact:
The Humane Society of Somerset County
P.O. Box 182, 204 Whitetail Road
Somerset, PA 15501
To make a bequest to the Humane Society of Somerset County, the following language will be helpful to your lawyer:
I give, devise, and bequeath to the Humane Society of Somerset County the sum of _______ (or otherwise describe the gift or specify a percentage of the estate).

There are three ways you can make a bequest:

Specific Bequest

You designate a specific dollar amount, specific percentage, or specific property to the Humane Society of Somerset County.
Residual Bequest
Your estate will pay all debts, taxes, expenses, and specific bequests. The remaining amount--the residue--will be transferred to the Humane Society of Somerset County.

Contingent Bequest

You can ask that the Humane Society of Somerset County receive all or a portion of your estate only under certain circumstances. For example, you can name the shelter as a beneficiary of your estate only if there are no surviving close family members. Childless couples sometimes provide for the entire estate to go to the surviving spouse, or if the spouse does not survive, to the Humane Society of Somerset County.

Gift of Life Insurance

Some of our supporters no longer need their life insurance that was purchased years ago to provide for children or other family members. If that is your situation, please consider donating the policy to the Humane Society of Somerset County. You may claim a charitable deduction for approximately the policy's cash surrender value, and the proceeds are completely removed from your estate

Gifts of Retirement Plans

Your IRA assets will be transferred to a charitable remainder trust, the trust will provide life income to the beneficiary, and then an eventual gift to the Humane Society of Somerset County..
Many individuals today have large qualified retirement plans such as an IRA, 401(k), or Keogh plan. These assets have been growing tax-free for years. Once the owner begins to receive payments from the qualified plans, the distributions are taxed. The plans are also included in the owner's taxable estate. A retirement plan may be an excellent source of funds for making a gift to the Humane Society of Somerset County.
One way to make a gift of your retirement plan is to create a charitable remainder trust through your will. It works like this: Your IRA assets will be transferred to a charitable remainder trust. There is no tax due because the charitable remainder trust is a tax-exempt entity. The trust will provide life income to the beneficiary (for example, your child) with an eventual gift to the Humane Society of Somerset County. The beneficiary will pay income tax on the distributions from the trust. Your estate will receive an estate tax charitable deduction for the value of the Humane Society of Somerset County's right to eventually receive the trust assets.
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