Support The Greeley Dream Team with Legacy Giving

Perhaps the easiest and simplest of planned gifts is to establish a bequest in your will or living trust that benefits The Greeley Dream Team, Inc. (GDT). A bequest transfers ownership of specific assets (such as cash, securities, or an IRA) to another individual or charitable organization at oneā€™s death. The documents used to accomplish the transfer are called a will or a living trust.

All states have laws that specify who receives a personā€™s assets if he or she dies without specifying a recipient. A person who does not have a will or a living trust effectively allows the state to determine what will happen with his or her assets upon death. A surprising number of individuals fail to put a will or living trust in place, which can be a significant disappointment and source of pain for their families. If you have not yet made out a will, please consider this.

Bequest Summary:

  • The Greeley Dream Team welcomes cash bequests of any size. There is no minimum or maximum.
  • There is no limit to the number of bequests you may make to GDT, other charities, family, and friends.
  • You will receive an estate tax deduction for the full amount of your bequest to GDT.
  • You can change your mind on the amount and recipients to receive your bequest at any time until your death.
  • You can take advantage of different types of bequests to fit your circumstances.

 

Bequest Instructions:

When including a bequest provision in your will or living trust, always use GDTā€™s full legal name and address (your attorney may suggest including GDTā€™s federal taxpayer identification number, as well).

  • Our full legal name is: ā€œThe Greeley Dream Team, Inc.ā€
  • Our address is 1025 9th Avenue, Greeley, CO 80631.
  • Our federal taxpayer identification number is 84-1070282.

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Bequest Types:

For a bequest of a specific dollar amount, the possible language is: ā€œI give to The Greeley Dream Team, Inc., a non-profit organization located at 1025 9thĀ Avenue, Greeley, CO 80631, Federal Tax Id #84-1070282, the sum of (Amount) to be used for The Greeley Dream Teamā€™s general use and purpose in completing their mission.ā€

A proportional or residual bequest is often the best way to accomplish your goals if you do not want to specify the exact amount or nature of the intended gift, perhaps because the size of the future estate is difficult to estimate. We would receive a percentage of the estate or Trust or, alternatively, a percentage of the balance of the estate or Trust after all other provisions have been met. Possible language is:

ā€œI give to The Greeley Dream Team, Inc., a non-profit organization located at 1025 9th Avenue, Greeley, CO 80631, Federal Tax Id #84-1070282, (percent) of my estate, or (percent of the remainder) of my estate to be used for The Greeley Dream Teamā€™s general use and purpose in completing their mission.ā€

A contingent bequest takes effect only if the primary intention cannot be met (e.g., if the primary beneficiary does not survive the donor). This ensures that property will not be distributed to unintended beneficiaries. Possible language is: ā€œIf (name of primary beneficiary) does not survive me, or shall die during the administration of my estate, or as a result of a common disaster, then I give to The Greeley Dream Team, Inc., a non-profit organization located at 1025 9th Avenue, Greeley, CO 80631, Federal Tax Id #84-1070282, all of the remainder of my estate, to be used for The Greeley Dream Teamā€™s general use and purpose in completing their mission.ā€

Your will or trust should be updated any time your financial or your family circumstances change. As laws vary from state to state, if you move, you should have an attorney licensed in and familiar with the new stateā€™s laws review your will or trust agreement. It is wise, even if there are not any significant changes in your circumstances, to periodically review these important documents.

If you already have a will, a codicil is a written change or amendment to a will.

Note: this is an example only. Please consult with your attorney.

This is a codicil to my living trust or will dated _____________________

ā˜ I give and bequeath the sum of $________________

ā˜ [or] ______% of my estate

ā˜ [or] the residue of my estate to The Greeley Dream Team, Inc. In all other respects, I confirm my said living trust or will.

Signed: ___________________________________

Witnessed By: _____________________________

Dated: ___________________________________

 

PLEASE NOTE: THE INFORMATION ON THIS PAGE DOES NOT CONSTITUTE LEGAL OR TAX ADVICE.

Individual financial circumstances will vary. Gifts of this nature should be carefully considered in relation to your comprehensive financial and estate plans. We strongly recommend that you consult an attorney in the preparation of your will or living trust and to supervise its execution so as to comply with your Stateā€™s requirements.

Ā As with all tax and estate planning, please consult your attorney or estate specialist.Ā Ā Ā Ā Ā Ā Ā 

Thank you for remembering The Greeley Dream Team.

If you have already included GDT in your estate plans, please let us know by filling out our Planned Giving Intention Form. We would enjoy the opportunity to thank you and make sure your intentions are carried out properly.