Planned Giving

Charitable Bequest

Leave a gift to Humanities Texas in your will or living trust. It is as simple as asking your professional advisor to include the following language:

I hereby direct $___________ (or ____ percent of my residual estate) in cash, securities, or other property to the Board of Directors of Humanities Texas.

If you wish to direct your gift to a specific program, you may add the following sentence:

This gift shall be for the further benefit of ___________ [program] and shall be used to ___________ [purpose].

Benefits

• Your gift is not made until after your lifetime and you may change it at any time.
• Giving a percentage of your estate, as opposed to a set amount, provides the security of knowing that your family will be taking care of first, making your gift proportional no matter the size of your estate.
• A charitable bequest can provide tax relief. If you are concerned about estate tax, know that your gift is entitled to an estate tax charitable deduction for the gift's full value.

Life Insurance

Naming Humanities Texas as a beneficiary of a life insurance policy that you may no longer need is one of the most convenient ways to make a gift. Simply request a beneficiary designation form from your life insurance company.

Benefits

• You may change your mind at any time and adjust your beneficiary designation if your or your family’s needs change.
• Life insurance proceeds are a taxable part of your estate unless you designate your spouse or a charity as your beneficiary. Assigning Humanities Texas as the beneficiary ensures that this asset will not be part of your taxable estate after your lifetime.

Retirement Plan Assets

Retirement plan assets in your estate at the time of your passing are subject to income taxes of as much as 35% if left to your heirs. Nonprofits like Humanities Texas, however, are tax-exempt and are thereby eligible to receive the full amount of retirement plan assets. Simply inform your plan administrator who can prepare the paperwork necessary to implement your wishes.

Benefits

• You may reduce or avoid income tax by naming Humanities Texas as the primary beneficiary for any percentage (1 to 100) of your retirement plan assets, allowing you to leave heirs other assets that are not as heavily taxed.
• You can take care of your loved ones first by assigning Humanities Texas as the contingent beneficiary, leaving us the balance only in the event that your loved one does not survive you. Or you may designate Humanities Texas to receive only a specific amount of retirement assets, leaving the remainder to heirs.