Kusamura Bonsai Club Bequest

Description and Examples

An easy way to support Kusamura Bonsai Club is to designate Kusamura as a beneficiary of some of your brokerage or banking assets.  This can generally be done on-line without additional legal expense.

Retirement Plans
For IRAs, 401(k) plans or other retirement savings arrangements:

Retirement plan assets can be the best assets to leave to charity. Naming Kusamura as beneficiary of all or part of a retirement account left at death can save income taxes, estate taxes or both. Individual recipients must pay the income tax on these assets, which have been accumulated tax-free. But Kusamura, as a nonprofit 501(c)3 organization, is exempt from any income tax that would otherwise be due. So, it is wise tax planning to leave some of these funds to Kusamura and other taxable assets to family and friends.

How To Designate:

Simply ask the custodian or trustee of your account for a new beneficiary form, or check on your custodian’s website for an online method. Use the Kusamura legal name, “Kusamura Bonsai Club” and Taxpayer ID No., #77-0324827.  If needed, the club address can be listed as c/o Hal Jerman, Treasurer, 3056 Ramona St, Palo Alto, CA.

Note: In general, married individuals will need the written consent of their spouses to make gifts from retirement accounts. Check with your account manager.

BEQUESTS
An excellent way for you to support Kusamura Bonsai Club’s mission is to leave us a bequest in your will, living trust or with a codicil. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that you are able to leave a lasting legacy.

Examples OF BEQUESTS

Specific Bequest. A specific bequest involves making a gift of a specific asset for a specific dollar amount. For example, you may wish to leave $10,000 to Kusamura Bonsai Club.

Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of an asset to charity. For example, you may wish to leave 10% of your estate to Kusamura Bonsai Club.

BEQUEST BENEFITS
A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.

BEQUEST LANGUAGE
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Kusamura Bonsai Club in your estate plan. We have provided some basic bequest language to assist you and your attorney.

Specific Bequest
If you are considering making an outright bequest to Kusamura Bonsai Club, we recommend the following language:
 

1. Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Kusamura Bonsai Club, a nonprofit organization located at 3056 Ramona St, Palo Alto, CA 94306, Federal Tax ID #77-0324827, for Kusamura Bonsai Club general use and purpose.

2. Percentage Bequest
If you are considering making a bequest of a percentage of your estate to Kusamura Bonsai Club, we recommend the following language:

I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Kusamura Bonsai Club, a nonprofit organization located at 3056 Ramona St, Palo Alto, CA 94306, Federal Tax ID #77-0324827, for Kusamura Bonsai Club general use and purpose.
 
3. Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Kusamura Bonsai Club, a nonprofit organization located at 3056 Ramona St, Palo Alto, CA 94306, Federal Tax ID #77-0324827 DESCRIPTION OF PROPERTY to be used for Kusamura Bonsai Club general use and purpose.
 

CONTACT US

Please contact us at our website (https://www.kusamurabonsai.org) if you have any questions about how to make a bequest to Kusamura Bonsai Club or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.

If you have included a bequest for Kusamura Bonsai Club in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.