Bequests
and Gifts

Crystal & Quinn are just two of the precious animals
that you can provide a future for
Making a gift to Little Shelter -- whether during your life, or through your will -- is
one of the most gratifying acts that you can perform. You know that your gift will go to
support Little Shelter, an organization that shares your ideals and concerns.
Bequests are a source of support in building a sound future for Little Shelter. There
are a number of ways in which you can help. Here are the major ones:
1. Charitable Remainder Unitrust: You reserve a lifetime income, Little Shelter
receives the remainder upon your death.
2. Charitable Remainder Unitrust: Your spouse or other beneficiaries receive
lifetime income, Little Shelter receives the remainder upon beneficiary's death.
3. Pooled Income Fund: You participate in a trust arrangement with a minimal
contribution. income will be paid to the designated beneficiary or
beneficiaries for life,
Little Shelter receives the remainder upon beneficiary's death.
4. Gift of Real Estate with Reserved Life Estate and Annuity: Same as above, but
in addition you receive a quarterly cash payment.
5. Gift for General Purposes
6. Gift for Specific purposes: For example, to fund a particular program, endow
a facility, or provide a piece of equipment.
7. Gift Restricted to Use of Income Only, Whether for General or Specific Purposes
The language necessary to accomplish your wishes is highly technical and should be
prepared by your attorney, preferably in consultation with Little Shelter's attorney.
A gift can consist of almost anything -- money, bank accounts, securities, works of art
(Little Shelter's benefit), or real estate. If a gift is to take effect upon death, it may
be contained in either your will, or your trust, depending upon the structure of your
estate plan.
The following three sample clauses may be used in either a will or a trust:
1. Outright Bequest
I give to Little Shelter, a New York charitable corporation, located in Huntington, New
York, the sum of $_______ (or other described assets) for
A) its general purposes
B) the income only to be used for its general purposes
C) the income only to be used for its specific purposes
In the case of a particular program, it is important to include the following language:
"If due to the passage of time, or changed circumstance, it is impossible or
impractical, in Little Shelter's opinion, to carry on this program, the funds (or the
income) may be used for another of Little Shelter's activities, which, in Little Shelter's
judgment, the Donor would have wished to benefit."
2. Residuary Bequest
I give, devise, and bequeath all of the rest, residue, and remainder of my estate (or
remainder of my trust) to Little Shelter, a New York charitable corporation, located in
Huntington, New York for its general purposes. (If the gift is to be restricted in some
way, use the same language as above.)
3. Contingent Residuary Bequest
I give, devise, and bequeath all of the rest, residue, and remainder of my estate (or
the remainder of my trust) to ____________, but if he/she fails to survive me, then I give
the same to Little Shelter, a New York charitable corporation, located in Huntington, New
York, for its general purposes. (If the gift is to be restricted in some way, use the same
language as above.)
The information presented here is intended as a general guide. Laws pertaining to
bequests vary from state to state. You should consult your own attorney with respect to
the effect of a bequest to Little Shelter on your own particular estate and tax situation.
and your attorney should also prepare and review your will before you sign it.
Little Shelter's president, Maryann Chernovsky, is available at 631-368-8770 to discuss
any aspects of the foregoing with you, and indeed, we have found it to be mutually
beneficial to Little Shelter and its benefactors to discuss, in advance of drafting, any
complicated, restricted, or unusual gifts -- to better insure that the wishes of you, the
Donor, can be carried out as you desire. |