Often when we think of giving, we think of donations made now. But did you know that you can leave a gift in the future, for the future? August is National Make-A-Will-Month, and I’m here to give you more information about this important and sometimes overlooked way to give to the causes you care about.
A will is a legal document specifying what happens with your assets after your lifetime. Writing a will might only seem important if you have a large estate or family, but having a legal will is important for everyone and is an easy way to ensure that your legacy is left to the people and causes you value most. It may be an uncomfortable thing to discuss, but it’s a conversation worth having to ensure your wishes are honored. Click here for 10 important reasons to have a will.
Once you’ve established who you want to leave your legacy to, you then decide how you want to leave it. There are a few different types of bequests, or ways to leave a legacy.
Bequests of Cash – a specific sum or percentage of assets outlined in an estate plan, will or trust
Residual Bequest – all or a portion of the remainder of the estate after all other debts, taxes, or commitments have been paid
Contingent Bequest – receives all or a portion of the estate on the condition of other events occurring such as if a spouse or other heir predeceases you
There are also other forms of planned giving.
Giving by Life Insurance – you may designate Macaw Recovery Network as a beneficiary of or sole owner of your policy. This is a tax-effective way to give, that is easy and free of federal estate tax.
Giving by Bank, Brokerage, and Other Accounts – you may designate Macaw Recovery Network as a beneficiary of a specific account or certificate of deposit, that we would receive after your lifetime.
Charitable Lead Trusts – this is a way to set up planned giving over a set period of time. The remainder of the trust would then be passed to your designee after the period of time is over.
By writing Macaw Recovery Network in your will, you can leave your legacy for the planet.
In August 2023 we launched the Sarapiquí Rainforest Reserve, land that will be forever protected for the critically endangered Great Green Macaw. We have plans to expand this reserve, a mission we see ourselves continuing for the long-term to protect the biodiversity of Costa Rica. By leaving Rainforest in your will, you can help us secure land that will be protected forever, and not just for Great Green Macaws. Your legacy could be the home of ocelots, jaguarundis, opossums, baird’s tapirs, bare-necked umbrellabirds, Mountain Almond trees, and countless other remarkable species. Click here to get a closer look at the land you could help protect, and the species within it.
But the beauty of writing your will, is that it’s yours. If habitat isn’t the program that you’re most passionate about, you can direct your gift to the program that is, such as inspiring communities or restoring parrot populations. It could even be unrestricted, meaning that it can go where it is needed most at the time of your gift, maximizing your impact no matter when the gift occurs. The choice is yours, and we want to help you make that choice.
So how does this work? Follow these simple steps to get started.
Step 1: Get in touch – Send me an email at sarah@macawrecoverynetwork.org so we can schedule a call. I can answer all of your questions regarding how your legacy could benefit parrots and the places they live.
Step 2. Find a Financial Advisor – We always recommend having a financial advisor to guide you through these important financial decisions. They will make sure you have everything you need, including an executor and witnesses to legalize your will.
Step 3: Download Legacy Form – This form has all of the information you need to share with your financial advisor, including our EIN number. Click here to download.
Step 4: Finalize Your Legacy – Fill out your legacy form and send it back to us, at sarah@macawrecoverynetwork.org
I hope that this was helpful, and we are grateful that you are considering trusting your legacy with us. The end of our lifetime is a difficult thing to think about, but the truth is that we can make an impact long after we’re gone. There are so many ways to make an impact, let’s explore the possibilities together. I hope to speak with you soon.
Sarah de Groot
Director of Development
Macaw Recovery Network
