Did you know that if you DO NOT have a will, the government will determine the distribution of ANY and ALL assets you leave behind?

To protect your family, put your wishes in writing, and to promote a legacy of Life Without Limits for people with disabilities, please include United Cerebral Palsy of Suffolk amongst your beneficiaries, through one of the following bequest options:

• Specific dollar bequest “I hereby give, devise, and bequeath to United Cerebral Palsy of Suffolk, Inc., a nonprofit corporation that has its principal offices in Hauppauge, NY, the sum of $ _______.”

• Percentage of Estate “I hereby give, devise, and bequeath to United Palsy of Suffolk, a nonprofit corporation that has its principal offices in Hauppauge, NY, an amount equal to __% of the value of my estate.”

• Residuary Estate “I hereby give, devise, and bequeath to United Cerebral Palsy of Suffolk, Inc., a nonprofit corporation that has its principal offices in Hauppauge, NY, whatever remains of my estate (or __%) of whatever remains of my estate after all specific bequests have been made and after taxes, fees and other costs of administering my estate have been paid.”

• Testamentary Trust “I hereby bequest the sum of $_______ to a testamentary trust that is to make certain payments to (name) for his/her lifetime. According to the trust document, whatever remains in this trust at his/her death is to pass to United Cerebral Palsy of Suffolk.”

(Note: If the testamentary trust is a qualified Charitable Remainder Trust, your estate will receive certain tax benefits not otherwise available).

• Charitable Lead Trust “I hereby bequeath the sum of $ (amount) to a Charitable Lead Trust that is to pay __% of its fair market value annually for __ years to United Cerebral Palsy of Suffolk.  As per the condition contained in the trust document, whatever remains in the trust at the end of that term of years is to pass to my heirs.”

• Unencumbered Assets/Real Property “I hereby give, devise, and bequeath to United Cerebral Palsy of Suffolk, Inc., a nonprofit corporation that has its principal offices in Hauppauge, NY, the following items of which I have complete and sole ownership (list items).

Contact your attorney, or Marsha Gittleman at UCP Suffolk (631-232-0015) for further assistance.

Generate and/or pass income producing assets to your heirs, while partnering with UCP Suffolk to create Life Without Limits for people with disabilities.

Charitable Remainder and Charitable Lead Trust can be funded with:            

• Cash
• Appreciated Securities or Annuities
• Real Property
• Closely held business interests

Charitable Remainder Trusts

• Generate lifetime income at favorable rates
• Eliminate initial capital gains tax
• Create current income tax deduction
• Avoid Estate Tax on contributed assets
• Create Life Without Limits for people with disabilities

The Process

• Donor places assets in trust
• Donor designates at least one non-charitable beneficiary
• Trusts pay donor or indicated non-charitable beneficiary a minimum of 5% of current trust assets or fixed amount (not less than 5% of initial trust assets) annually for up to 20 years or life of non-charitable beneficiary
• Trust remainder is distributed to UCP Suffolk at the conclusion of trust duration or upon the death of non-charitable beneficiary

Charitable Lead Trusts

• Offset gift tax on intergenerational transfer of assets
• Offset Estate Taxes
• Avoid tax on appreciation of transferred assets
• Enable donor to create and direct annual charitable contributions

The Process

• Donor places income producing assets in trust
• Donor establishes duration of trust and ultimate beneficiary
• Trust makes payments of a fixed amount (annuity trust) or percentage of trust principal (unitrust) on a regular basis to UCP Suffolk for term of trust
• At the expiration of the term of the trust the asset reverts back to the donor, or is transferred to the specified beneficiary

A Charitable Gift Annuity allows a donor to invest with UCP Suffolk and receive a guaranteed annual income stream for life.

C.G.A.’s can be funded with cash, stock, fully paid insurance policies, real property or other assets, and may name one or two annuitants.

UCP Suffolk requires a minimum of $10,000 to establish a C.G.A., and that the annuitant(s) be at least 60 years of age.  Payout rates conform with those published by the American Council on Gift Annuities, and will vary based on the age of the donor(s).

For specific details, consult your attorney, financial advisor, or Marsha Gittleman at (631) 232-0015.

Utilizing Life Insurance as a planned giving vehicle provides a unique opportunity for a caring donor to create a much larger gift than the money / assets actually donated. 

The Process

There are two paths to achieving this

Existing Policies

• The donor gifts an “old” paid-up policy that they no longer need to UCP Suffolk (e.g. Mortgage insurance, College tuition insurance)
• The donor gets a charitable tax deduction based on the value of the policy
• UCP Suffolk can hold the policy, and at the death of the donor collect the full benefit, or
• UCP Suffolk can sell or surrender the policy at anytime at its current value

New Policies

• The donor can take out a new policy naming UCP Suffolk as both the owner and beneficiary
• The donor annually gives UCP the amount required for the premium, which can be taken as a charitable deduction
• UCP Suffolk in turn makes the premium payments
• UCP Suffolk can sell or surrender the policy at its cash value at any time, or hold the policy for the life of the donor and collect the full benefit

The Benefit

This allows a donor to leverage their contribution, creating a much larger gift than he/she might otherwise have thought possible.  They can endow a particular project, or honor the memory of a loved one.