Julia Ideson Society
Charitable bequests to the Houston Public Library Foundation help us to fulfill our mission of inspiring lifelong learning, advancing knowledge, and strengthening our communities.
Including the Houston Public Library Foundation in your estate plan is easy. If you already have a Will or Living Trust, you may add the Houston Public Library Foundation as a beneficiary through a Codicil or trust amendment using the following language: “I give and bequeath [dollar amount or percentage of estate] to the Houston Public Library Foundation.” Bequests may include a specific dollar amount, percentage, or a gift of property, and are not subject to estate tax.
There are several ways to make a bequest to the Houston Public Library Foundation. Consult with your attorney or other advisors to make sure that the bequest you choose makes sense as part of your overall estate plan.
Charitable Remainder Trusts
A Charitable Remainder Trust provides lifetime income to you and/or loved ones, as well as significant tax advantages. You transfer assets (usually cash, securities, or real estate) to a trustee of your choice through a formal trust agreement. If appreciated property is donated, no capital gains tax is due on the transfer, and your income tax deduction is based on the fair market value of the donated assets. Your trustee invests the trust assets and makes annual payments to you and/or a loved one, based on the payout rate chosen by you. At your death or at the termination of the trust, the principal is distributed to the Houston Public Library Foundation. You may choose a fixed rate of income (Annuity Trust) or a variable rate of income.
You may wish for your planned gift to be unrestricted or restricted to a specific program area.