Planning your estate is a terrific way to make a lasting contribution to LAMBDA.
By including LAMBDA in your will or estate plan, you can help ensure that our services will continue to benefit the gay, lesbian, bisexual, and transgender communities. Your gift will help LAMBDA build its capacity to serve a growing population of at-risk youth and adults.
Whether your bequest is large or small, you can support the LAMBDA mission beyond your lifetime by including a gift to LAMBDA in your will. To make a bequest of cash, securities, or other property, your will (or supplemental codicil, if you do not wish to write a new will), should state:
"I give and bequeath to LAMBDA GLBT Community Services, a non-profit
corporation with Federal ID # 74-2711029, having its principal office at
216 S Ochoa St, El Paso, TX 79901-2512, or its successor,
(Amount Option 1) . . . the sum of $_______________ . . .
(Or Amount Option 2) . . . __________ percent of the rest, residue and remainder of my estate . . .
(Or Amount Option 3) . . . the following assets: (for example, real estate, securities, personal property) . . .(Purpose Option A) . . . to be used for general purposes of the organization.
(Purpose Option 2) . . . to be used for the following purposes: (for example, research, education, awareness, advocacy)."
You may bequest cash, property or appreciated securities. You need an attorney to help you draw up a will that will meet legal requirements. The suggested text and descriptions herein are for informational use only and should be reviewed with your attorney. Ask your attorney, accountant or tax advisor about ways to reduce or eliminate estate taxes.
There are several types of bequests that allow you to designate your estate in accordance with your financial and charitable goals:
Specific Bequest
With this type of bequest, you describe exactly what you want to leave to a family member or charity. If you want to leave a specific amount or if you have a particular item (such as an antique or collector's item) you would like to leave to someone, this is the type of bequest that you would use.Residuary Bequest
This type of bequest is honored after all other bequests have been made, and all debts, expenses and taxes have been paid.Contingent Bequest
This type of bequest is fulfilled if certain conditions are met. For instance, if your primary beneficiary does not survive you, you can indicate your next choice through a contingent designation.
If you decide to include LAMBDA in your estate plan, LAMBDA should be named as: LAMBDA GLBT Community Services (LAMBDA), a nonprofit corporation, organized and existing under the laws of the Texas, and with principal business address of 216 S Ochoa St, El Paso, TX 79901-2512. Our tax identification number is 74-2711029. If you have a specific purpose in mind, please contact us.
Donating stock or other appreciated securities has three important benefits for the donor.
It is easy to make a gift to LAMBDA using appreciated securities.
Gift of Life Insurance
A life insurance policy that has a substantial cash surrender value can be donated to LAMBDA. You might have purchased the policy to provide income protection for a spouse now deceased, or to educate your children who are now adults. Naming LAMBDA as the sole or partial beneficiary of your life insurance may allow you to make a substantial gift at little or no cost to you.
You can use life insurance to replace for your heirs the assets that you have donated to LAMBDA through a will or trust. A Life Insurance Trust, when used in conjunction with Charitable Remainder Trusts, may help achieve many favorable financial objectives.
LAMBDA appreciates unrestricted gifts because the organization can use the funds to support programs deemed most urgent at the time we receive the gift. However, you can specify how we use your gift. Some restricted purposes include education, awareness, or advocacy. If you plan to make a restricted gift for a purpose other than those listed here, please contact us to make certain the organization can meet the conditions you specify.
*This information is provided for your reference only and is not intended as legal or financial advice. We strongly recommend you consult a qualified legal or financial advisor before making a bequest. Before supporting a particular program, it is crucial to make sure that LAMBDA understands and can fulfill your specific wishes.