Leaving A Legacy

Leaving a gift to the American Red Cross of Central New Jersey in your will is a special way to continue helping the Red Cross.

Some people choose to give a specific dollar amount or asset, while others give a percentage of the remainder of their estate.  Bequests can also be made in memory of a person and the Red Cross can suggest ways to ensure proper recognition.  There are also planned gift vehicles that will allow you to make a contribution that will provide income for life for you and/or a loved one.

If you are considering including the American Red Cross of Central New Jersey in your will, the following suggested language should be shared with your attorney:

"I give, devise and bequeath to the American Red Cross of Central New Jersey, 707 Alexander Road, Princeton, NJ 08540, the sum of $_______( or otherwise describe the gift or specify a percentage of the estate) to be used for its general purposes."

Other Ways to Support the Future of the American Red Cross of Central New Jersey

Establish a charitable gift annuity with American Red Cross of Central New Jersey.

• This is a simple option available to donors over 65 years of age with a minimum gift of only $5,000, and enables donors to receive income for life, some of which is tax-free, an income tax charitable deduction and favorable capital gains tax treatment.

Designate American Red Cross of Central New Jersey as the beneficiary of a retirement plan such as an IRA or Keogh plan.

• When choosing assets to leave to a charitable organization, many advisors suggest retirement plan assets such an IRA, Keogh plan, or other qualified retirement plans.  If these assets are left to heirs they are taxed more heavily than any other assets in your estate. Retirement plans are subject not only to estate tax upon your death, but also to income tax when distributed to your heirs.  Naming American Red Cross of Central New Jersey as a beneficiary of your retirement plan may be an easy and attractive option.

Name American Red Cross of Central New Jersey as the beneficiary of a life insurance policy.

• Many people have existing life insurance policies that were purchased when they had young children and that are no longer important to their families' financial security; a donor can simply change the beneficiary of such a policy to American Red Cross of Central New Jersey.

Create a charitable remainder trust for American Red Cross of Central New Jersey.

• Although this option involves legal fees for the donor, when such fees are justified by the size of a gift trusts are attractive vehicles that offer more flexibility than a charitable gift annuity.  Trusts can be tailored to accommodate a wide variety of gift assets and meet personal financial and charitable goals.  In certain circumstances the American Red Cross will serve as Trustee.

For additional information, please call Jennifer Durrant at 908-782-4121.