Simply name First Point Volleyball Foundation as a beneficiary in your will or trust. Doing so will not affect cash flow during your lifetime. See below for types of bequests and sample language that can be used to make a lasting gift in your will or trust:
A percentage of your estate after other specific legacies have been fulfilled.
A specific dollar amount stated fraction of your estate or specified gift-in-kind.
A gift that is originally intended for other beneficiaries but, in the event of their prior passing, is redirected as a charitable donation.
If at any point in time and for any reason, you wish to make changes to include First Point in your will, you can easily amend it by using a Codicil. A codicil is a document your attorney can prepare to amend your will or trust without rewriting the entire document. The codicil adds a new gift to First Point Volleyball Foundation while reaffirming the other terms of your will.
I give, devise, and bequeath $ ___________ to First Point Volleyball Foundation located at
10880 Wilshire Blvd, Suite 1101. Los Angeles, CA 90024
for its charitable uses and purposes.
In all other respects I ratify and confirm all of the provisions of my said last Will and Testament dated on the _________ day of ______________, 20__
IN WITNESS WHEREOF, I sign, publish, and declare this instrument to be a Codicil to my last Will and Testament in the presence of both persons witnessing said Codicil at my request this _____ day of ___________, 20__. _________________________ residing at _________________________ (name)
Witnesses _________________________ residing at ___________________________ (name)
_________________________ residing at ___________________________ (name)
The codicil, to be valid, must be signed in the presence of both witnesses who are present at the same time, and the original placed with your other valuable papers. A copy can go to your lawyer and a copy to First Point Volleyball Foundation.
Name First Point Volleyball Foundation as the beneficiary of a retirement plan, financial account, or annuity. You will continue to benefit from these assets during your lifetime.
Gift unused life insurance policies to First Point Volleyball Foundation and take an immediate tax deduction. You may also name First Point Volleyball Foundation as a beneficiary of your policy.
Valuable assets including artwork, collectibles, and jewelry that you no longer want or need may be gifted to First Point Volleyball Foundation and qualify for a tax deduction.
Financial donors over age 70 may make an IRA-qualified charitable distribution to First Point Volleyball Foundation from their retirement savings accounts. Did you know that the gift of a qualified charitable distribution (QCD) benefits donors aged 70 ½ and up?
As you plan your charitable giving, consider using your IRA account to make the most of your philanthropic donations. You receive a tax benefit even if you make the standard deduction.
With recent changes to legislation under the SECURE Act 2.0, the age at which IRA holders must take their required minimum distribution (RMD) has been increased to 73. However, anyone age 70.5 or older can still make Qualified Charitable Distributions to their favorite charities. Please consult your financial advisor when making your philanthropic decisions.
It’s important to consider your tax situation before deciding to make a qualified charitable contribution from your IRA. Be sure to share this plan with your financial advisor.
A gift from your estate plan is one of the most impactful ways to help First Point Volleyball Foundation. We would be happy to provide you with complementary resources that can help you make a lasting impact on the boys’ and men’s volleyball community.