Bequests - A Gift From Your Will or Trust
Ensure the future of the Los Angeles Zoo and Botanical Gardens without affecting your cash flow during your lifetime.
There are several ways for you to remember GLAZA in your will or trust:
- You may name GLAZA as a specific beneficiary of a fixed cash amount or a specific asset from your estate, such as stocks, bonds, real estate, or artwork if appropriate.
- You may name GLAZA as a percentage beneficiary which expressed in this way guarantees your wishes regardless of whether your estate grows larger or smaller.
- You may name GLAZA as a remainder beneficiary to receive assets from your estate after the other terms of your will have been satisfied.
- You may name GLAZA as a contingent beneficiary to receive assets from your estate if your primary beneficiary does not survive you.
Suggested language for bequests to GLAZA:
To provide for the Zoo in your will or trust, GLAZA suggests the insertion of the following language:
To the Greater Los Angeles Zoo Association, a California not-for-profit corporation, for the benefit of the Los Angeles Zoo and Botanical Gardens the sum of _____________________ or __________% of the rest, residue and remainder of my estate.
Unless otherwise specified, bequests are directed to GLAZA’s Endowment Fund, a permanent fund that supports the Zoo’s mission and future growth.
If you would like the bequest to be used for a restricted endowment, please add the following*:
Use of these funds should be restricted to___________________________ Endowed Fund with the income used for this purpose. Recognizing that the needs of Zoos are constantly changing, should the Los Angeles Zoo and Botanical Gardens be not able to use these funds with their restrictions due to changes in programs or practices, the fund’s restrictions may be changed to a similar purpose as approved by the Zoo Director and ratified by the GLAZA Board of Trustees.
*A minimum $100,000 is required for a permanently restricted endowment. The specific purpose would need to be approved by GLAZA.
Beneficiary Designations – A No-Cost Way to Benefit the Zoo
If you or your heirs no longer need the coverage of a personal life insurance policy, by simply requesting a form, you can change your policy’s beneficiary to benefit GLAZA.
If you have retirement assets in a tax-deferred plan, your beneficiaries will owe income tax at your death at up to 35%. You may want to consider leaving your loved ones less heavily taxed assets and designate GLAZA as the beneficiary of all or a portion of your retirement plan assets. Your plan administrator can provide forms.
Life Insurance – A Simple Way to Multiply the Impact of Your Gift
By naming the Greater Los Angeles Zoo Association as owner and beneficiary of your life insurance policy and making annual fully tax-deductible contributions to GLAZA to cover the premiums, you create a major impact on the financial strength of the Los Angeles Zoo and Botanical Gardens while preserving your capital assets.
For further information on how you can become a Selig Legacy Society member, please call (323) 644-4782.