Estate & Planned Giving

In as little as one sentence in your will or revocable living trust, you can help Green County Humane Society change the lives of abused, abandoned or six animals in the communities we serve. Bequests to Green County Humane Society are not subject to federal or estate taxes.

And if you name GCHS as a beneficiary, we’d love to know your plans and thank you for your gift. 

There are several ways that you go about making your gift:

Specific gift: You list a specific dollar amount or property be given to GCHS.

For example: "I give to Green County Humane Society of Monroe, WI, 53566, the sum of $5,000 to be used for its general purposes."

Residual gift: You direct that GCHS receive the remainder of the estate—or a portion of the remainder—after all other bequests, expenses and taxes have been paid.

For example: "I give to Green County Humane Society of Monroe, WI, 53566, 20 percent of my residual estate to be used for its general purposes."

Contingent gift: This bequest is fulfilled if certain conditions are met. For example, you designate that GCHS receive all or part of your estate if your primary beneficiary does not survive you.
For example: "I give all the rest, residue and remainder of my real and personal estate to my wife, Margaret, if she survives me; if not, then 50 percent in equal shares to my children who survive me and 50 percent Green County Humane Society of Monroe, WI."

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Most people age 70 1/2 or older must take a minimum distribution from their IRA accounts annually or face huge IRS penalties on the amount they should have withdrawn. But this additional taxable income might push you into a higher tax bracket and/or reduce your eligibility for certain tax credits and deductions. 

If you transfer those funds to Green County Humane Society, you can eliminate or reduce the impact of that income while also saving the lives of homeless pets!  

You can transfer up to $100,000 from your IRA, and the distribution won’t count as taxable income.

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A no-cost way to make a planned gift to GCHS is by making it the beneficiary of a bank account, certificate of deposit or security. Instruct any financial institution in which you have an account or the holder of a security to place your asset in a trust—often called a Totten Trust or a Transfer Upon Death Account—which will be transferred upon your death directly to GCHS.

This option allows you to retain complete control of the asset during your lifetime and give the remaining asset to help homeless animals. Your financial institution or the holder of the security can assist you in setting this up.

Donating long-term appreciated securities such as stock, bonds and mutual funds directly to GCHS is one of the most tax-smart ways to give. It potentially allows you to avoid capital gains taxes, deduct the fair-market value from your income taxes and give the most money possible to care for sick, abandoned or abused animals. 

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Before you sell your home and donate the net proceeds to GCHS, consider donating that property directly for two major benefits: A potential income tax charitable deduction for the fair market value and a greater gift to charity. 

A direct gift is the simplest method of donating real estate. The deed or title is transferred from the donor to the charity. As the donor, you generally receive a tax deduction equal to the fair market value of the property that may be carried forward for a number of years. You also avoid paying the capital gains tax that would otherwise accrue as a result of the sale of the property.

But there are other ways to donate your property, including Charitable Remainder or Lead Trusts.

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Make a gift of an existing policy or buy a policy making GCHS the beneficiary. It’s simple to do: Just fill out your insurance company’s change-of-beneficiary form designating Green County Humane Society to receive part or all of the funds. You can also designate GCHS to be a secondary beneficiary in the event that your primary beneficiary does not survive you.

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Receive income for life or a term of years. When you donate assets to a charitable remainder trust you create, you receive a stream of income from the trust, which can last for your lifetime or a set term of up to 20 years. If you wish, your spouse or another individual can receive an income from the trust after your lifetime. At the end of the trust term, the remaining balance goes to Green County Humane Society. CRTs have tax benefits when you fund the trust and the investment income is tax exempt.

• Charitable remainder annuity trusts distribute a fixed annuity amount each year, and additional contributions are not allowed.
• Charitable remainder unitrusts distribute a fixed percentage based on the balance of the trust assets (revalued annually), and additional contributions can be made.

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With a charitable lead trust, you transfer cash or assets, which are appreciating in value, into a trust you create with the intention of supporting Green County Humane Society for a specified term. Once the trust term expires, the remaining assets are distributed to you or your designated beneficiaries in a manner that can minimize or even eliminate gift or estate taxes. It is a way to support homeless animals first while preserving your assets for your loved ones.

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