You don’t need to be wealthy to leave a legacy of support for improving New Mexico’s quality of life. Including Think New Mexico in your estate planning allows you support our work far into the future without impacting your current cash flow or financial circumstances.
There are many different ways to include Think New Mexico in your life planning; here are some to consider (download this chart as a pdf).
|Type of Gift||How To Make It||Your Goal and Benefits|
|Include a Bequest to Think New Mexico in Your Will||Name Think New Mexico in your will. You can designate a specific amount, a percentage, or a share of what remains after your other bequests. Click here for some sample language to share with your attorney.||A bequest in a will costs you nothing during your lifetime and only takes effect after your other obligations are fulfilled. It may also reduce the estate tax liability of your heirs.|
|Make a Gift from Your Retirement Plan||Use a beneficiary designation form to name Think New Mexico as the beneficiary of the balance of the account left over after your lifetime. If you are over age 70 ½, you can also make a direct charitable rollover from your IRA, which fulfills your required minimum distribution without increasing your income tax.||Receive the income you need throughout your lifetime, and make a gift of your most highly taxed assets – since IRAs and other retirement plans are often subject to double taxation – leaving less taxed assets to your family.|
|Make a Gift of Stocks, Bonds, or other Appreciated Assets||Directly contribute long-term appreciated stocks, bonds, mutual funds, or other securities.||This gift allows you to “buy low and give high.” You avoid capital gains tax liability while receiving a charitable income tax deduction for the full fair market value of the securities.|
|Make a Gift of Life Insurance||Contribute a life insurance policy you no longer need or establish a new policy with Think New Mexico named as a beneficiary.||This allows you to leverage your dollars to make a larger gift. You receive an immediate income tax deduction and possible future deductions through donations to pay policy premiums, while not reducing the size of the estate you pass on to your loved ones.|
|Make a Gift of Real Estate||Name Think New Mexico as the beneficiary to receive your real estate after your lifetime by having your attorney prepare and file a transfer-on-death deed. (Since the laws governing these deeds vary by state, check with your attorney regarding this type of gift.)||Avoid capital gains tax, receive a tax deduction, and make a gift that does not affect your financial situation or use of your property during your lifetime.|
Legal Disclaimer: The information offered on this website is not intended as legal or tax advice. If you have any questions about the financial or tax implications of your gift, we encourage you to consult a personal legal or financial adviser.