This post is part of our occasional series on planned giving.
You may have heard us talk about planned giving at some point or other. It’s an easy way to make sure your love of the library is honored at a later date. (That’s why it’s called “planned”.) But how does it work? Well, there are three main ways to plan to donate a larger sum of money to the library.
First, the far most common way to plan a gift to the library is to make a bequest in your will or estate plan. This is a simple and popular method for remembering your library. You can bequeath a specific dollar amount, a particular asset, or a percentage of your estate. Ask when you’re next reviewing your estate plan with your lawyer.
Second, your life insurance can provide an important gift for your Library’s future. You may contribute all or part of your insurance policy.
Third and lastly, retirement plans are one of the simplest and most tax-wise ways to make a planned gift to your Library. You can name the Santa Clara City Library Foundation & Friends as a beneficiary of your IRA, 401(k), or other retirement plan by designating either a dollar amount or percentage of your plan.
Please feel free to contact us if you’re interested in planned giving and have more questions about it.