Create a Legacy
Planned Giving Opportunities with Pet Allies
Law Offices of Brendon R. Rogers
We recommend the Law Offices of Brendon R. Rogers, supporter of Pet Allies, as an excellent resource to help with your estate planning regarding your pets, as well as your loved ones.
The Law Offices of Brendon R. Rogers is located at 970 S. Main Street, Suite B, Snowflake, AZ 85937, and they may be reached at 928-536-6780
Will or trust
Qualified Charitable Distribution from Retirement Assets
Life Insurance
Outright gift
Thank you for considering make a gift to Pet Allies through your will or trust. Have you already named Pet Allies in your will, trust or other planning? Please let us know your plans. Thank you for helping save the animals in this community.
Will or Trust
There are several ways to make a gift to Pet Allies in your will or trust. Some examples follow:
Specific gift: You want to give a specific item or dollar amount from a specific source to Pet Allies, something like your home or a collection of antiques. An example of how you would state this in in a will is: “I leave my house, located at 111 Tree Lane, Show Low, to my beloved son Mathew. I leave my car to my daughter Annie. I leave my stocks and bonds to Pet Allies, Tax Identification number 86-0829565.” You could also State: “I leave $50,000 to my son Mathew. I leave $50,000 to my daughter Annie. I leave $20,000 to Pet Allies, tax identification number 86-0829565.”
Residuary gift: This type of gift happens after all other bequests have been made and all expenses of the estate have been paid. An example of how you could state this in a will is: “I give all the rest, residue and remainder of my real and personal estate to Pet Allies, tax identification number 86-0829565.”
Contingent gift: This kind of gift occurs when certain things happen, for example, if your primary beneficiary does not survive you, you can list Pet Allies as your next beneficiary. An example of how this would be stated in a will is: “I give all the rest, residue and remainder of my real and personal estate to my son, Mathew, if he survives me; if not, then 50 percent to any grandchildren who survive me and 50 percent to Pet Allies, tax identification number 86-0829565.”
Qualified Charitable Distribution
Qualified Charitable Distribution for Donors 72 and over
Individuals over the age of 72 are required to take a minimum distribution (RMD) from their traditional IRAs on an annual basis. The IRS allows you to reduce your income tax liability on the RMD by making a tax-free charitable distribution directly to a nonprofit. This provides you with a great opportunity to provide a life-saving gift to Pet Allies and save money on your taxes all at once!
How to make a QCD
Financial institution procedures may vary, but generally, you will need to provide the following information about Pet Allies:
--Legal Name: Pet Allies LLC
--Federal Tax ID: 86-0829565.
--Address: 1321 N. 16th St, Show Low, AZ 85901
The financial institution will need to make the check payable to Pet Allies. They can either mail the check directly to us, they can give you the check to mail, or you can bring it to us in person. Be sure to ask them to put your name in the memo line or include name and address information separately to make sure we can provide a receipt for the IRS.
Questions?
Please note, we recommend talking to a tax advisor regarding how a QCD would affect your tax situation.
What types of IRAs are eligible?
Traditional, Rollover, Inherited (in some cases), and inactive SEP, and Simple IRAs. Donors can also transfer funds from inactive SEPs and Simples to Rollover IRAs in order to make a QCD.
Are there other tax advantages of making a QCD gift?
A QCD excludes the gift amount from taxable income, which not only affects the amount of taxes you owe, but also affects the calculations on how much you pay for Medicare coverage.
How does the IRS know I made a QCD?
A QCD is reported as a normal distribution on IRS Form 1099R for non-inherited IRAs and as a death distribution for inherited IRAs or Inherited Roths that require taxable RMDs. You will need the donation receipt to show the IRS that you made a QCD.
What is the deadline for making a QCD?
QCDs are made on a calendar year basis; your 2021 QCD must be postmarked by Dec. 31, 2021.
If you would like additional information regarding making a QCD gift, please contact Daphne Grace at daphne@petalliesaz.org.
Life Insurance
Life Insurance
You can name Pet Allies as a primary or contingent beneficiary for all or part of your life insurance policy. After your lifetime, the funds would be given to Pet Allies without federal estate tax and without probate. To make this type of gift, contact your insurance agent and request a beneficiary form. Some of the benefits to using life insurance:
Simple (little paperwork)
Financial advantage (you still own the policy)
Flexibility (you can change your mind)
Future tax savings (no inheritance tax)
Making a difference: You gift will save lives
Here is an example of naming Pet Allies as beneficiary. When Mathew was working, taking care of a young family, he purchased life insurance to protect his family. Now, at retirement, his family no longer needs this protection, so he had decided to name Pet Allies as the life insurance beneficiary.
Another way to gift insurance is to donate a paid up life insurance policy. If the policy has a cash value, Pet Allies could have the option of holding the policy to maturity date or surrendering the policy to receive its current cash value. You would receive a current income tax deduction, future tax savings by removing this from any taxable estate, and you will leave a legacy of kindness.
Probate Free Beneficiary Deed
Arizona is one of a number of States that allow probate-free transfers of home and other real estate. The simple deed are easy to prepare. You can revoke and replace with another deed if your needs change. The deed does not transfer ownership of the real estate until death, so you can easily sell, mortgage, etc., while still living. A deed form can be purchased from office supply and legal form supply companies, on line or at local stores. An example of such a deed is found at the bottom of this page. Your attorney or a number of on line agencies can prepare the deed for you. You must list the correct legal description of the property. You will also need to have this deed notarized and recorded. These are things you can do on your own, or with the help of your attorney. If you choose to use a Beneficiary Deed, please be sure to describe Pet Allies by using its name and tax identification number, 86-0829565.
Charitable Gift Annuity
You can realize tax savings and reliable annual income while donating to Pet Allies. Here’s how it works:
. You make a donation to Pet Allies (minimum of $10,000)
. You receive fixed annual payments for the rest of your life
. You receive a current income tax deduction for charitable donation
. Your gift will provide income for you and save the lives of homeless pets
There are many options for these annuities. If you need help with this type of planning, Pet Allies works with Jill Tinkel State Farm insurance. Together we can provide all the information you need to decide on the best plan for you.
