Planned Giving

Planned giving provides a legacy and ensures that your concerns for individuals with barriers to employment are met in the years to come. Planned gifts include:

OPTION #1  Name Goodwill of Silicon Valley, Inc. in Your Will or Trust

You can continue the work you have initiated during your life by empowering Goodwill of Silicon Valley, Inc. to enhance its role in serving individuals with barriers to employment.

Your estate gift will provide a continuing legacy – living on to help individuals with barriers to work to obtain training, employment, and family strengthening supports.

To make an estate gift, request your attorney to draft a statement in your will or Trust that conveys your desire to:

  • Give the entire residue of your estate
  • Give a fraction of your estate
  • Give a specific amount
  • Give a contingent amount

Residue:  I give the rest, residue, and remainder of my estate to Goodwill of Silicon Valley, Inc., presently located at 1080 North 7th Street, San Jose, CA 95112.  Each gift shall bear taxes equitably attributable to that gift.

Fraction: I give Goodwill of Silicon Valley, Inc. _____ % (fraction spelled out) of the rest, residue, and remainder of my estate, to Goodwill of Silicon Valley, Inc., presently located at 1080 North 7th Street, San Jose, CA 95112. Each gift shall bear taxes equitably attributable to that gift.

Specific Amount: I give $ _____ (number spelled out) to Goodwill of Silicon Valley, Inc., presently located at 1080 North 7th Street, San Jose, CA 95112

Contingent: If none of the persons I have identified above as beneficiaries of my estate survive me, I give the rest, residue, and remainder to Goodwill of Silicon Valley, Inc., presently located at 1080 North 7th Street, San Jose, CA 95112.

 

OPTION #2   Insurance Gifts

A life insurance policy may be an attractive (and often overlooked) asset with which you can help Goodwill of Silicon Valley, Inc. continue to help disadvantaged populations obtain gainful employment and support themselves and their families. The reason that called you to originally purchase the insurance may no longer be valid.

Every gift of any size helps Goodwill of Silicon Valley, Inc. continue providing support for individuals with barriers to employment.

Consider:

  • Name Goodwill of Silicon Valley, Inc. as the Beneficiary of the Policy
  • Gift a Policy to Goodwill of Silicon Valley, Inc.

 

OPTION #3 Name Goodwill of Silicon Valley, Inc. as Beneficiary of a 401(k), 403(b), or IRA

Qualified employee benefit plans accumulate tax free during your lifetime. At death, they are subject to tax.

  • 100% of the account balance is included in the taxable estate of the decedent.
  • Any taxable beneficiary who receives a distribution from an IRA, 401(k), or 403(b) as a result of the death of the owner must pay income tax on the entire amount received.
  • Some plans could be taxed as much as 85% as a result of these taxes.

Goodwill of Silicon Valley, Inc. is a qualified 501(c)3 organization, a not-for-profit. A gift of plan proceeds to Goodwill of Silicon Valley, Inc. exempts the proceeds from taxes.

  • The beneficiary designation to the qualified charity frees your gift from subjection to estate tax.
  • As a not-for-profit organization, Goodwill of Silicon Valley, Inc. is not subject to income tax.

 

 

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