DISCLAIMER: The below information on Planned Giving is not intended as legal or tax advice; neither GHRC nor its staff members are engaged in legal or tax advisory service. For advice or assistance regarding specific cases or whether a contemplated gift fits well into your overall circumstances and planning, the services of an attorney or other professional advisor should be obtained.
The purpose of this page is to provide general gift, estate, and financial planning information. Watch out for changing tax revisions. State laws govern wills, trusts, and charitable gifts made in a contractual agreement. Please consult your legal or tax advisor when preparing any legal document.
By including the Guatemala Human Rights Commission in your Will, you can ensure that your generosity will continue in perpetuity. The Guatemala Human Rights Commission pledges to put your gift to the best possible use by working tirelessly towards a more just Guatemala where human rights are respected and protected. There are several ways to make contributions through your Will. Below you will find some sample language for different bequests:
Specific Gift Language
Naming Guatemala Human Rights Commission as a beneficiary for a specific amount from your estate is easy:
“I give, devise, and bequeath to Guatemala Human Rights Commission (Tax ID # 52-1295497), located in Washington, DC, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific fund or program).”
Percentage Gift Language
“I give, devise, and bequeath to Guatemala Human Rights Commission (Tax ID # 52-1295497), located in Washington, DC, _____ % of my estate to be used for its general support (or for the support of a specific fund or program).”
Residual Gift Language
A residual bequest is what assets remain after other bequests have been granted and after your estate expenses are paid:
“I give, devise, and bequeath to Guatemala Human Rights Commission (Tax ID # 52-1295497), located in Washington, DC, all (or state a percentage) of the rest, residue, and remainder of my estate, including both real and personal property, to be used for its general support (or for the support of a specific fund or program).”
Contingent Gift Language
Guatemala Human Rights Commission 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, devise, and bequeath Guatemala Human Rights Commission (Tax ID # 52-1295497), located in Washington, DC, 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 fund or program).”
Retirement Plan Beneficiary Language
You may name Guatemala Human Rights Commission (Tax ID # 52-1295497) 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 Guatemala Human Rights Commission as the beneficiary of a 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 Guatemala Human Rights Commission as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor’s death the plan passes to support Guatemala Human Rights Commission 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 have finished, please return the form to your plan administrator and notify Guatemala Human Rights Commission.
Note: The above wording is suggested. Please consult your attorney when preparing any legal document.
GHRC is a tax-exempt 501(c)(3) nonprofit organization.