Wills, Trusts, and Life Insurance
A bequest is a gift that is made through a donor's will or living trust. You can include the Lance Armstrong Foundation in your estate plans by naming the Foundation in your will for a specific amount or a percent share of your estate. You can also name the Lance Armstrong Foundation as the residual beneficiary of your estate after payment of bequests to others.
The appropriate way to designate a specific program as a beneficiary in your plans is "Lance Armstrong Foundation, Austin, Texas, for (a specific purpose, if any)." Through a will, living trust, or retirement plan, individuals can make gifts to the LAF that are larger than anything they could imagine in their lifetimes. The process is very simple for most individuals. Simply refer to the LAF's Sample Bequest Language (PDF).
Gifts through wills, living trusts, or retirement plans offer a number of advantages:
- They are revocable by the donor if circumstances change.
- They realize the donor's vision for the future in a tangible way without an uncomfortable financial burden during his or her lifetime.
- Individuals may choose to designate their support to any part of the Foundation.
- For individuals who wish to support the Foundation at levels that will produce an endowment in perpetuity, separate endowment agreements can be created to spell out the donor's wishes.
- They may reduce estate tax for the surviving family members.
Please notify the Foundation of your wishes by contacting Ron Kolenic via phone at 512-279-8413 or email ron.kolenic@laf.org.
Life Insurance Gifts
A new or existing life insurance policy is a low-cost way to make a significant gift to the Foundation. You may also receive a tax deduction for your premium payments. Please note that LAF must be owner and beneficiary of the policy for a gift to be eligible for tax benefits. For more details, consult Ron Kolenic via phone at 512-279-8413 or email ron.kolenic@laf.org.
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