|July 12, 2012
Dear Friend of TPF,
I am writing this during a wonderful time of sunshine and long summer days to ask a difficult question that we don’t like to think about: “What will your legacy be?” As we get older, unfortunately we realize that nobody lives forever. For most of us, our legacy is our children and grandchildren, a circle of friends, and a few well-chosen community, cultural, or charitable organizations. We hope that, as a long term member and supporter of environmental causes, you will consider the Theodore Payne Foundation to be among the organizations that you will support as part of your legacy. By including the Theodore Payne Foundation in your estate plans, you can bequeath a legacy of colorful, water-wise, environmentally friendly California native plants to future generations.A charitable bequest offers many benefits:
Simplicity: One sentence in your will or trust is all that is needed: “I give and bequeath to the Theodore Payne Foundation for Wild Flowers and Native Plants, Tax ID #95-6095398, the sum of $XXXX.00 or XX.00% of my estate, or XX.00% of the rest and remainder of my estate or a specific item.”
Flexibility: Because you are not actually making a gift until after your lifetime, you can change your mind at any time.
Tax Reduction: If your estate is subject to federal or state estate taxes, your gift is entitled to an estate tax charitable deduction to the maximal extent allowed by law. Consult your attorney or accountant for details.
Versatility: You can structure your bequest in the way that is best for you: a specific item, stocks that have appreciated in value, retirement accounts, or make your bequest contingent on certain events. You can choose to leave a percentage of your residual estate to the Foundation. It’s up to you.
We understand that the future is unpredictable. Circumstances may change and you may change your plans or your priorities. This is why you can change your gift at any time and, of course, consult your estate planner or attorney for advice that is appropriate for your individual situation.
When Lynnette Kampe, the Theodore Payne Foundation’s Executive Director, asked me to spearhead this effort to help ensure the Foundation’s future, she shared with me that the Foundation was included in her will. I told her that I shared that distinction, because I had specified a bequest to the Foundation when I revised my will before traveling to Africa last fall. I hope you will join Lynnette, me, and many others in ensuring both our legacies and the Foundation’s future.
Board Member, Theodore Payne Foundation,