Yes, you can make an impact for future generations of athletes, by creating a gift that costs you nothing now.
You can help create a world of inclusion simply by signing your name. There is no need to write a check now, you maintain control of your assets during your lifetime, and you can change your gift at any time and for any reason.
A gift in your will or trust is one of the easiest ways to create your legacy with Special Olympics, providing the experiences that empower individuals with intellectual disabilities.
- No cost: Costs you nothing now to give in this way
- Flexible: You can alter your gift or change your mind at any time and for any reason
- Lasting impact: Your gift will create your legacy of inclusion now and for generations to come.
Here are several simple ways to include a gift in your will:
- A specific bequest is a gift of a specific sum of money or item of property. For example, “I give a sum of $25,000 to Special Olympics,” or “I give my antique desk to my niece, Sarah.”
- Another common way of leaving a gift to charity while leaving the majority of assets to loved ones is a residuary bequest: “I give the balance of my estate (or some percentage of the remainder of my estate) after all other bequests are satisfied, to Special Olympics.”
- A contingent bequest is a gift made on condition that a certain event occurs. This kind of bequest is often used to leave gifts to charity. For example, “I give $25,000 to my friend Christina, if she survives me — or, if not, to Special Olympics.”
A special needs trust, sometimes called a supplemental needs trust, holds assets for a special needs beneficiary in order to supplement the beneficiary’s income without impacting eligibility to receive other benefits. Depending on the type of Special Needs Trust, you may be able to name Special Olympics as a remainder beneficiary of the trust. Special Olympics would only receive funds remaining, if any, after the individual beneficiary’s lifetime. Please discuss your options with your attorney to determine if this may be an option for you. You can download our publication “Planning When Someone You Love Has Special Needs” here.
Gifts by Beneficiary Designation are an easy way to give that costs you nothing now.
Gifts by beneficiary designation are among the simplest gifts to make. They do not require a visit to a lawyer, they cost you nothing now and you can change your beneficiaries at any time.
It’s easy to put your retirement funds, insurance plan, bank account and brokerage accounts to use to create a better world by fostering the acceptance and inclusion of all people – and it costs nothing now.
By naming Special Olympics as a beneficiary of these assets, you will empower athletes on the playing field and in life for generations to come. And it will be your legacy of acceptance, inclusion and tolerance for the world.
Potential benefits of gifts by beneficiary designation:
- Reduce or eliminate taxes on retirement assets
- Reduce or avoid probate fees
- No cost to you now to give
- Create your legacy on inclusion with Special Olympics.
A Gift of Retirement Funds:
This option is becoming increasingly popular. Naming Special Olympics as a beneficiary of your retirement plan can be an attractive option for creating a legacy while reducing income and possibly estate taxes for your loved ones. Since Special Olympics is a tax-exempt organization, naming us as a beneficiary means that 100 percent of your gift will go toward empowering athletes for years to come.
A gift of funds remaining in your bank accounts, brokerage accounts or a certificate of deposit (CD):
This is one of the easiest ways to make a real difference for athletes with intellectual disabilities. The next time you visit your bank, you can name Special Olympics as the beneficiary of a checking or savings bank account, a certificate of deposit (CD) or a brokerage account. When you do, you’ll help create a better world, on and off the field, for people with intellectual disabilities.
Donor-Advised Fund (DAF) residuals:
What remains in a Donor-Advised Fund is governed by the contract you completed when you created your fund. When you establish a DAF, consider naming Special Olympics as a “successor” of your account or a portion of your account value to create your legacy of acceptance and inclusion.