Leaving a legacy of compassion
You may include Seva when preparing your will, or ask your estate planner to add a codicil to an existing will designating Seva as a charitable beneficiary. You may choose to leave any combination of:
- A specific dollar amount
- A specific percentage, or all, of your residuary estate (the remainder left after bequests to others, debts and expenses are paid)
- Specific items of property such as stocks, bonds, real estate, jewelry or historical artifacts
- A gift in trust that pays a portion of the trust property to individual beneficiaries and a portion to Seva
The following is suggested language for remembering Seva in your will/estate planning:
"Upon my death, I give the sum of $__________
[or]the following property __________________
[or] _____% of my estate
[or] the residue of my estate
to Seva Foundation (Tax ID 38-2231279), located in Berkeley, California, for its general uses and purposes."
Suggested language to use in your trust:
"Upon the trustor's (alternatively: settlor's) death, the trustee shall distribute the sum of $_______ to Seva Foundation (Tax ID 38-2231279), located in Berkeley, California, for its general uses and purposes."
Life Insurance Gift
You may transfer ownership of a life insurance policy to Seva or designate Seva as the beneficiary of the insurance policy. You will be entitled to an income tax charitable deduction in the year of your gift. You can also purchase a new policy to benefit Seva.
Retirement Plan Gift
The principal advantage of donating retirement plan assets to Seva is that you avoid all income and estate taxes. If you leave these assets to a non-spousal individual beneficiary, they would be subject to extremely high estate tax and income taxes. You may instruct the institution that handles your retirement accounts to designate Seva as the beneficiary of your IRA or pension plan. Retirement plans may also be used to fund charitable remainder trusts.
Charitable Remainder Trust
Transfer assets to a trustee and each year you and/or someone you have designated will receive income from the trust. The trust may last either for a term of years or for life. The trust allows you to receive an income tax deduction now, arrange for tax-free growth of retirement assets, and receive a retirement income from the trust when you retire. When the trust ends, the remaining trust assets will pass to Seva.
For additional information about any of these planned giving opportunities, please contact our Deputy Director of Development Julie Nestingen, at email@example.com or call our toll free number at 1-877-764-7382.