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Gifts in Your Will or Trust
Making a gift to Compass Housing Alliance in your will or trust is easy.
Your attorney can include the necessary language in your will, a codicil to your will, or your revocable living trust. Here are suggested clauses to include in these documents that you should review with your attorney:
UNRESTRICTED PURPOSE
“I give, devise, and bequeath [identify here the specific sum of money, the specific asset or the portion of the residual estate] to Compass Housing Alliance, 77 S. Washington St., Seattle, WA 98104.”
RESTRICTED
“I give, devise and bequeath [identify here the specific sum of money, the specific asset or the portion of the residual estate] to Compass Housing Alliance, 77 S. Washington St., Seattle, WA 98104, specifically for [describe the primary purpose, such as a specific program, service, building/property development, etc. Use general language so that the restriction is not so limited as to prevent Compass Housing Alliance from applying the money in the most efficient way.]
Beneficiary Designations
There are simple and easy ways to support the future of Compass Housing Alliance without hiring an attorney.
Make Compass Housing Alliance a beneficiary of a bank, brokerage account, retirement plan, life insurance policy, or annuity. Upon your death, assets in these accounts are passed to beneficiaries without going through probate:
POD & TOD ACCOUNTS
Payable-on-Death (POD) accounts allow you to name Compass Housing Alliance as a beneficiary of your bank or credit union savings account, checking account, or CD. A similar arrangement called a Transfer-on-Death (TOD) account, allows you to name Compass Housing Alliance as a beneficiary of your stocks, bonds, and mutual funds.
IRA BENEFICIARY
Include Compass Housing Alliance as a beneficiary of your retirement plan, such as a traditional IRA or 401(k) account, simply by updating the beneficiary designation form, which can be obtained from the plan administrator. Naming Compass Housing Alliance as the primary beneficiary of your retirement plan eliminates income and estate taxes on that asset.
What You Will Need
Although forms will differ from one financial institution to the next, you will need our legal name and address: Compass Housing Alliance 77 South Washington Street Seattle, WA 98104 (Tax ID Number: 91-0578229)
Please call Mission Advancement Officer Anne Jannetti at (206) 474-1061 to explore your legacy-giving options. This is not professional legal or tax advice. Please consult your professional advisor about the consequences of this gift to your situation.