What Is a Legacy Gift?
A gift that allows you to support NYWIFT in your estate plans. In many cases, a legacy gift might also reduce the tax burden placed on your beneficiaries. Your professional advisors can help you determine what type of legacy gift is right for you.
Your legacy gift can be any portion of your estate assets, ensuring that both NYWIFT and your beneficiaries will benefit from your generosity. Even the most modest gift will allow us to support generations of women filmmakers and film professionals to come.
Your gift can take many forms:
- Cash bequest: Through a simple adjustment to your will, either in the body or through a codicil, you can designate a portion of your estate to NYWIFT—either a specific amount or a percentage. A residual bequest designates all or a portion to NYWIFT after other bequests, debts or expenses. A contingent bequest can be made in the event that your primary beneficiaries do not survive you.
- Beneficiary designation: Many financial assets—such as pensions, IRAs, and some bank accounts—have a “payable on death” provision.
- Intellectual property/royalties: Your success can provide a legacy for other women through your donation of intellectual property or royalties.
- Life insurance: You can donate all or a portion of your life insurance proceeds to NYWIFT.
- Living trust beneficiary: If you have created a revocable living trust, NYWIFT can be a remainder beneficiary of your trust.
- Real property: A gift of real estate can not only provide your estate with a deduction for the value of the property but may also provide some relief from capital gains taxes.
- Investments: Stocks, bonds or other investments can be an easy alternative to a cash bequest and may also provide relief from capital gains taxes.
- Collectibles: Artwork, antiques or other collectibles can also be part of your legacy gift to NYWIFT.
- Retirement plans: You can designate NYWIFT as the sole beneficiary or one of several beneficiaries of your retirement plan. Retirement plans are often subject to higher tax levels. A donation of these assets to NYWIFT can help you to reduce the tax burden on your estate.
Where to Start
You can start by talking to a NYWIFT representative and consulting with your professional advisors. We are always available to answer general questions about your bequest or any other gifts. Please call Terry Lawler, Executive Director, at 212-679-0870 or email firstname.lastname@example.org. We will get back to you right away.
If you are leaving NYWIFT a bequest, your attorney can help you draft the appropriate language in your will. Make sure to use our full legal name, New York Women in Film & Television, Inc., and federal tax ID number (132983705).
If you are donating all or part of your retirement assets or life insurance policy, New York Women in Film & Television, Inc., must be named as a beneficiary under your plan.
Those who include NYWIFT in their estate or retirement plans will be welcomed into our LightsCameraAction Society. Members of our LightsCameraAction Society will receive recognition in our Muse Awards journal (if so desired), an invitation to our annual LightsCameraAction Society event, as well as special invitations throughout the year.
Please let us know if you have made a gift so that we may thank you for your generosity and
welcome you to the LightsCameraAction Society.