Including charitable giving in your estate planning can make a lasting statement to the causes you care about.
Please contact us or read below to learn more about planned giving opportunities with Live Like Roo Foundation (Tax ID #47-4770782), of Arlington Heights, Illinois (or its legal successor).
The Benefits of including the Live Like Roo Foundation in your Living Trust
-Your assets can remain in your control during your lifetime.
-Generally, you can modify your bequest at any time if your circumstances change. Working with your attorney, you may be able to reduce any estate tax burden through advanced charitable trust planning.
-You will have the confidence knowing that your bequest will leave a lasting legacy in the lives of animals with cancer.
In addition to naming Live Like Roo Foundation as a beneficiary in a will or trust, you can also give (at death or living) real estate, insurance policies, stocks, and can designate LLRF as a beneficiary for a qualified retirement asset (like IRA). This could be at death, but those over age 70.5 can also donate up to $100k from an IRA and deduct the same on their income taxes (the qualified charitable distribution rule). RMDs (Required Minimum Donations) can also be donated upon receipt. There can also be significant tax advantages to donating retirement assets to charity as part of an estate plan from an income-tax and estate-tax perspective. Bequests and living trusts are often the simplest and most convenient types of legacy gifts that our friends establish.
You may choose to give a percentage of your estate or all, or part of the residue that is left over after all other bequests are made. We appreciate it so much, as do the animals that we assist. An example of wording: "I give and devise to the Live Like Roo Foundation (Tax ID #47-4770782), located in Arlington Heights, IL, the amount of $XX [or XX% of the residue of my estate], to be used for general operating support."
For more information, please contact your attorney or sarah@livelikeroo.org. We also work with Madeleine Minton, who you can reach at MMinton@harrisonllp.com.