Sample Will Bequest Language
We would be happy to answer any questions you or your attorney or tax adviser may have about including Think New Mexico in your estate planning. Please feel free to contact us directly for information or assistance on a confidential basis.
The attorney preparing your will may request this information:
Legal Name: Think New Mexico
Tax I.D. Number: 31-1611995
Incorporated in: New Mexico
Located in: Santa Fe, New Mexico
Sample Gift Language for your Will or Revocable Living Trust
There are several different options for including Think New Mexico in your will. Below is some sample language you may wish to discuss with the attorney preparing your will. (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.)
Residual Gift Language
A residual bequest comes to Think New Mexico after your estate expenses and specific bequests are paid:
“I give and devise to Think New Mexico (Tax ID #31-1611995), located in Santa Fe, New Mexico, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support.”
Specific Gift Language
This type of gift goes to Think New Mexico as a beneficiary of a specific amount from your estate:
“I give and devise to Think New Mexico (Tax ID #31-1611995), located in Santa Fe, New Mexico, the sum of $___________ (or asset) to be used for its general support.”
Contingent Gift Language
If you make Think New Mexico a contingent beneficiary in your will or personal trust, then the funds go to Think New Mexico if one or more of your specific bequests cannot be fulfilled:
“If (insert name) is not living at the time of my demise, I give and devise to Think New Mexico (Tax ID #31-1611995), located in Santa Fe, New Mexico, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support.”
Retirement Plan Beneficiary Language
You may name Think New Mexico (Tax ID #31-1611995) as a beneficiary of your IRA or other qualified retirement benefits. We recommend consulting with a tax advisor regarding the tax benefits of this sort of gift.
Naming Think New Mexico as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will help support our work while also realizing significant tax savings. It can be costly to pass such assets on to heirs because they are subject to heavy tax liability. By naming Think New Mexico as a beneficiary of a retirement plan, a donor maintains complete control over the asset while living, but at the donor’s death, the remaining funds go to support Think New Mexico free of both estate and income taxes.
Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change-of-beneficiary form from your retirement plan administrator. When you have finished, please return the form to your plan administrator and notify Think New Mexico.