Members of the Friends Forever Society with estate plan provisions give a lasting meaningful gift to the homeless animals in our care beyond their own lifetime. Planned gifts are a unique charitable tool allowing donors to achieve their personal charitable objectives using tax and financial planning methods which are typically made from assets in your estate through:

• A bequest in your will or living trust.

When creating your will, consider naming the Florida Keys SPCA as a beneficiary for cash gifts or real estate when deciding where your assets will go. Should you decide to leave property to the FKSPCA, you can make a Retained Life Tenancy Gift, in which you transfer the ownership of your residence or parcel to The Florida Keys SPCA, but retain the right to use the property for life. Upon your death, the Florida Keys SPCA will use the property or proceeds from its sale to further our mission.

Creating your will is also imperative if you have pets.  Planning on what will happen to your four-legged loved ones and who will care for them is just as crucial as planning for your assets. 

• Annuities that provide income to your and others for life.

Giving the gift of a Charitable Gift Annuity you can ensure that the balance of your assets will benefit our cause in saving homeless animals.

• Life Insurance Policies

Life insurance can be distributed to a charitable organization such as the Florida Keys SPCA, if we are named as a beneficiary of the policy at the time of your death.

Contact your insurance company for its change of beneficiary form for the life insurance policy. Simply decide what percentage of the policy's value (1 percent - 100 percent) you would like us to receive and name us, along with the stated percentage, on the beneficiary form. Then return the form to your insurance company.

• 401Ks and IRA

Most retirement plans, including 401(k)s and IRAs, are income tax–deferred, meaning that income tax is not paid until the funds are distributed to you in life or upon your death. This taxation makes retirement assets among the costliest assets to distribute to loved ones after life.

Because 401Ks and IRAs are subject to income taxes to your beneficiaries, retirement assets make ideal gifts to tax-exempt charitable organizations such as The Florida Keys SPCA.

Income taxes on retirement assets you leave to your loved ones can be as high as 35 percent. This means that an IRA worth $100,000 may be worth only $65,000 by the time it reaches your heirs.

However, the naming of a charity as the beneficiary of retirement assets upon death generates no income taxes. The Florida Keys SPCA is tax-exempt and eligible to receive the full amount and bypass any income taxes. This means that in the above example, the FKSPCA would receive the full $100,000 benefit.

FreeWill

Ready to join the Friends Forever Society with a gift to the Florida Keys SPCA? You can use FreeWill, a free, online resource that guides you through the process of creating your legally valid will in 20 minutes or less. Start your legacy today!

While creating your plans, you will also have the opportunity to name the Florida Keys SPCA as your pet’s guardian. For more information, please contact our Development Director Tiffany Dunsmore at Tiffany@fkspca.org.

If you already have a Will, but would like to add a Legacy Gift for the Florida Keys SPCA, you will need the following:

• Our full legal name – The Florida Keys Society for Prevention of Cruelty to Animals, Inc.
• Our Federal Tax ID number: 65-0891564.

If you have already left a gift to the Florida Keys SPCA in your estate plan, let us know by using this free online tool!

If you have an IRA, 401(k), life-insurance policy, or any other assets not included in your will, these are called non-probate assets and you must plan your beneficiaries for them separately. Use this online tool to make your plans and designate us as a beneficiary of one or more of these assets.

Your financial advisor can also help you decide which type of planned gift is best for you and your family.  If you have questions on planned giving, please contact us directly at (305) 294-4857. 

**The information contained here is not intended to be financial or legal advice. Please consult an attorney or qualified adviser to make choices that best fit your situation.