Giving to the Pet Alliance in 100 Years

By Peggy Hoyt and the Law Offices of Hoyt & Bryan LLC

Would you be willing to make a gift to the Pet Alliance of Greater Orlando 100 years from now? You can. Here’s how.

Simply add up your annual gifts for the year and multiply by 20. Then make a gift through your estate (either as a gift in your will or living trust or by naming us as a beneficiary of a life insurance policy or retirement plan) for this amount and designate it for the Pet Alliance of Greater Orlando Annual Giving Endowment Fund. That’s all there is to it.

The endowment will provide an annual gift to the Pet Alliance of Greater Orlando long after you’re gone – perhaps even 100 years from now!  As a result, the Pet Alliance will continue to receive your annual gift and the animals will continue to benefit from your generosity.

dog reading old book with glassesThe Annual Giving Endowment Fund invests the principal of an endowed gift, always being careful to earn enough income to meet the payout requirements of the fund. Since the principal is kept intact, the endowment continues to flourish. Your estate gift to the Pet Alliance of Greater Orlando goes on and on and on.

Here’s an example of how this works:  Mary gives the Pet Alliance $500 every year. She may make a number of small gifts each year or she might make one annual gift. She realizes the Pet Alliance of Greater Orlando depends on her giving and wonders how the organization will continue to grow and meet its program demands after her lifetime. Once she learns about the Annual Giving Endowment Fund, Mary decides to include Pet Alliance in her Last Will, by including a $10,000 bequest to the Fund.

At her death, the initial income from her endowment gift will be $500 (assuming a 5 percent rate of return).  This is the same amount Mary provided to Pet Alliance during her lifetime and now that gift can continue indefinitely.  Mary has accomplished her goal of providing for the Pet Alliance far beyond her time on earth.  Her gift and her legacy can continue for many, many years to come.

Leaving a legacy gift to the Annual Giving Endowment Fund, either through a gift in your will or trust or as the beneficiary of a life insurance policy, annuity or retirement plan can ensure the continued effectiveness of all of the programs offered by the Pet Alliance of Greater Orlando.  The Pet Alliance is happy to provide more information about legacy gifts, including charitable gift annuities and charitable trusts.  For even more ways you can benefit the Pet Alliance, consult with your legal professional and provide a lasting legacy through your estate planning.

Pet Alliance 23rd Annual Furball: Rescue

Celebrating Animals and the Heroic People Who Save Their Lives

ORLANDO, FL., Sept. 24, 2014 — Pet Alliance of Greater Orlando is celebrating animals and the heroic people who rescue them at its 23rd Annual Furball, presented by SeaWorld®. The event will take place at SeaWorld Orlando’s Ports of Call® on Saturday, October 25, 2014 from 6 to 10 p.m.

mattgutmansmallerGuests will experience amazing animal encounters and a “Chilling” Magellanic Penguin VIP reception hosted by Merial®. ABC News Correspondent and host of the Emmy® nominated television series “SeaRescue,” Matt Gutman, is the very special celebrity host for this year’s event. WFTV 9 Family Connection also joins the party animals this year as the official network television partner.

New, and exclusively for Furball attendees, “SeaWorld’s Animal Rescue Show” will be presented where guests will meet the men and women on the front lines of saving animal lives every day – on land and at sea. Pet Alliance of Greater Orlando will also be presenting its inaugural Animal Hero Award, recognizing individuals or organizations that exhibit extraordinary efforts to save the lives of animals. All proceeds from Furball benefit the programs and services of Pet Alliance of Greater Orlando to save more lives of dogs and cats.

“We rescue the lives of dogs and cats every day at Pet Alliance of Greater Orlando,” said Kerri Burns, Executive Director for the organization. “This year’s Furball tribute to Rescue honors the men and women who support the important work of rescuing animals. We are thrilled to have Matt Gutman as our special celebrity host and to partner with such an impactful organization as SeaWorld. Over the last 50 years, SeaWorld alone has rescued more the 23,000 marine animals, whether ill, injured, or orphaned.”

joelslavenThe Inaugural Pet Alliance Animal Hero Award will be presented to humanitarian Joel Slaven. Slaven has rescued almost 1,000 dogs and cats from animal shelters across America and employed them as animal actors in his Pets Ahoy shows from coast to coast.

“Joel has adopted almost 300 dogs and cats from the Pet Alliance animal shelters in Orlando and Sanford, many of whom were unadoptable. Through rewards based training, Joel has given them a new life and permanent homes as animal actors,” said Burns.

It takes a network of rescue partners, supporters like SeaWorld, and adopters like Joel Slaven to care for the almost 500 dogs and cats Pet Alliance is responsible for every day. Tickets and sponsorships for the event are available for purchase here.

About Pet Alliance of Greater Orlando

As the go-to pet experts across Central Florida, the Pet Alliance of Greater Orlando does good things for dogs and cats and the people who love them. Formerly the SPCA of Central Florida, our goal is to provide compassionate and knowledgeable services for pets and to be leaders in innovative animal care and veterinary medicine. More than 10,000 homeless dogs and cats will turn to the Pet Alliance of Greater Orlando for caring, compassion, and hope through our animal shelters this year. Our highly skilled veterinarians will help and heal an additional 45,000 animals in our veterinary clinics. Providing shelter for animals in crisis, disaster response efforts, and pet food pantry for dogs and cats in need, we will help thousands of additional animals this year.

Planned Giving: A Gift From the Heart

By Peggy Hoyt and the Law Offices of Hoyt & Bryan LLC

The term “planned giving” was coined over 40 years ago by Robert F. Sharpe. It contemplates a gift to a charitable organization that is made at some time in the future – usually at the death of the donor. The most common type of planned or deferred gift is an outright gift (bequest) to a charity either through a person’s will or from a trust.

Charitable organizations like the Pet Alliance of Greater Orlando rely on the kindness and philanthropy of their donors to support their many programs and accomplish their mission. Many gifts are given as current gifts – a gift of cash, real estate, securities or a vehicle that can be used today. Other gifts are deferred gifts – a gift that will occur at some point in the future, hence the idea of a planned gift.

woman with hat and catWills and trusts are ideal for the purpose of making a planned gift. The Pet Alliance of Greater Orlando can be named as beneficiary of a specific gift or dollar amount, or they can be the remainder beneficiary to a trust that may be created for another purpose and then when that purpose is complete, the remaining assets are distributed to the charity. A common example would be a pet trust created for the lifetime of your pets and then when the trust is complete, the balance of the trust assets would be distributed to the Pet Alliance of Greater Orlando.

Another common gift would be naming a charitable as the beneficiary of a life insurance policy or retirement plan. That way, the charity will receive the full benefit of the gift at the time of the donor’s death. With a retirement plan, the donor can use the asset during their lifetime and any remaining balance would pass to the charity. With life insurance, the donor would leverage their premium payments for a larger gift later. Retirement plans are ideal vehicles for both current and planned charitable gifts.

Irrevocable trusts are another important way that planned giving can be incorporated into a comprehensive estate plan. The most common are Charitable Remainder Trusts and Charitable Lead Trusts. Both provide a benefit to the charity – either through a current stream of income with the Charitable Lead Trust or through a remainder interest upon the termination of a Charitable Remainder Trust.

Many organizations offer Charitable Gift Annuities (CGA). A CGA is an annuity that pays a lifetime benefit to the donor and at death; the remaining annuity balance passes to the charitable organization. See more information on the different types of planned giving.

Do I Need a Will or a Trust?

Learn the facts about planned giving at our once-a-month giving blog, brought to you by the Law Offices of Hoyt & Bryan, LLC.

Every person who owns assets should have, at a minimum, a Last Will and Testament (Last Will).  Some people, however, will choose a Living Trust as their primary planning document for a variety of reasons.  These reasons can include estate tax concerns, probate avoidance concerns, asset protection concerns, pet trust planning concerns, and charitable giving concerns just to name a few.

Wills and Trusts are the cornerstone of any comprehensive estate plan. Creating a plan that provides for loved ones, including pets and favorite charities, is the reason to do estate planning in the first place.   Remembering the Pet Alliance of Greater Orlando in your estate plan will help ensure your legacy will continue into the future.  You can have the personal satisfaction of helping these animals long after your lifetime.

Your lifetime or testamentary gift to the Pet Alliance of Greater Orlando is fully deductible for purposes of federal estate taxes. And, while reducing or even eliminating estate taxes is an admirable goal, your gift can also be used to establish a lasting tribute to a person or pet you wish to honor and remember.

By making a planned gift to the Pet Alliance of Greater Orlando, your beneficiaries may receive a larger net benefit after tax estate.  Ask yourself the following question, “Would you consider a charitable gift as an alternative to paying income or estate tax?”  If the answer is “Yes,” work with a qualified estate planning professional to ensure your wishes are honored and your goals are achieved.

Bequest (The “I Can Give” Gift)

How it works:

  • You can provide now for a future gift to the Pet Alliance of Greater Orlando by including a bequest provision in your Will or Revocable Trust.
  • You can name the Pet Alliance of Greater Orlando as a beneficiary of a retirement plan (IRA, 401k), annuity or life insurance policy.  For tax deferred investments, you’ll avoid both the income tax consequences and get a charitable estate tax deduction.

Benefits:

  • Your assets remain in your control during your lifetime
  • You can modify your bequest if your circumstances change
  • You can direct your bequest to a particular purpose (be sure to check with the Pet Alliance to make sure your gift can be used as intended)
  • There is no upper limit on the estate tax deductions that can be taken for charitable bequests
  • You can have the satisfaction of knowing that your bequest will support the Pet Alliance of Greater Orlando in the way you intend after you are gone

Contact the Pet Alliance if you are interested in including us in your Will or Revocable Trust.

 

Why Do I Need an Estate Plan?

Learn the facts about planned giving at our once-a-month giving blog, brought to you by the Law Offices of Hoyt & Bryan, LLC.

You need an estate plan because everyone dies. If you don’t have an estate plan, the State of Florida has one for you. “I don’t have anything.” Often, this is the response when a conversation about estate planning starts. The truth is that you have more than you think.

First, you probably have people and pets you love.  In addition, you may have a home, some financial assets, a retirement plan, possibly a life insurance policy or annuity and some personal property. Everyone has someone or something they need to plan for. Many people believe an “estate plan” is simply having a will, but it’s more expansive than that.

You might be surprised to learn that most estate plans don’t work. If you’ve ever heard someone say about a loved one who passed away, “Boy if they only knew what was going on, they would be rolling over in their grave!” then you’ve experienced the classic expression regarding an estate plan that didn’t work. Something went wrong. What that something was could be any one of a variety of things–perhaps an unwanted probate, unexpected taxes, unintended beneficiaries, unequal distributions, business succession issues, family hostility, and the list goes on.

A primary goal of estate planning should be to create a plan that works–for you and for your loved ones. No two families are alike and as a result, no two plans will ever be alike.  Estate planning is not for the faint of heart and should never be left to a form found online–there are too many unexpected and potentially devastating consequences. Contrary to what you may have heard, there is no boilerplate “one size fits all” when it comes to estate planning.

Estate planning implicates many other areas of the law. These can include family law, real estate law, banking law, homestead law, guardianship law, probate and trust administration law, tax law, asset protection law and contract law, to name a few.  Unless you’re an expert in each of these areas of the law and know how they affect you and your family, then getting a professional on your team will increase the likelihood of creating a plan that will work the way YOU want.

Your estate plan should be designed to accomplish a variety of goals.  What are your goals?  Provide for your family, your pets, your favorite charity?  Avoiding probate and minimizing taxes are admirable goals too, but they shouldn’t be your only goal.  Protecting your loved ones and making sure your assets are distributed when, how and to whom you want should be a central focus.  Remember, it’s your money, your loved ones, and your wishes and goals.

The best course of action starts with working with a qualified legal professional who has expertise and experience in estate planning and elder law–and someone who will listen, answer your questions and help you understand how your plan will work. Only then can you have certainty that your plan has the greatest probability of success.

To include the Pet Alliance of Greater Orlando as part of your estate plan, work with a qualified estate planning professional and contact us for more information on our specific giving programs.  Your contribution, during your lifetime and at death, is tax deductible.  We are a 501c3 charity and we rely on the generosity of people like you to continue our work to provide for the people and pets in our community.