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Glossary of Planned Giving Terms

A contractual agreement to pay a fixed sum of money to an individual at regular intervals. A charitable gift annuity makes lifetime payments to the benefactor and/or another individual.

One named in a will, trust or other legal document to receive an interest in as estate.

A direction in a will to pay over or distribute person property is a bequest. Also called a legacy.

See Cost Basis

Capital Gains Tax
A federal tax on the appreciation of an asset between its purchase and sale prices.

Charitable Gift Annuity
An agreement in which you transfer cash of other assets to a charitable organization in exchange for its promise to pay you an annuity for life.

A legal instrument made to modify an earlier will.

Cost Basis
The original value of an asset, such as stock, before its appreciation or depreciation.

Estate Tax
A tax on the net value of property subject to tax (“taxable estate”) plus the sum of the “adjusted taxable gifts” at the time of a person’s death. It is based on the right to transfer or transmit.

The person named in a will to administer the estate (known is some states as the “personal representative”).

Fair Market Value
The price that an asset would bring on the open market.

Gift Tax
A tax on the donor of inter-vivos gifts (those made during life), based on the right to transfer or transmit, and payable primarily by the donor.

Gross Estate
Total property or assets held by an individual as defined for federal estate tax purposes.

Life Income Gift
A planned gift that makes payments to the benefactor and/or other beneficiaries for the lifetime, then distributes the remainder to charity.

Planned Giving
A way for generous individuals to make larger gifts than they otherwise could make by using planning techniques to provide for both charity and their heirs in ways that maximize the gift and/or minimize its impact on the donor’s estate.

The process of providing a will’s validity; used loosely to mean the administration of an estate.

Testamentary Trust
A trust established through the will of the grantor.

An individual or organization carrying out the wishes of the person who established the trust, paying income to the beneficiaries and preserving the principal for ultimate distribution.

A legal instrument disposing of a person’s property at the time of his or her death.

I Don't See Myself Stopping

Leslie Lyons Story:

Leslie Lyons is the volunteer board member every nonprofit wishes were theirs.  She is generous with her time, her talent, her resources and especially her heart.  

Leslie became acquainted with Five Acres in 2001 when she was a board member at The Salvation Army and it honored Five Acres with the “Others” award.  Five Acres volunteers at the event recognized Leslie as a rising star and recruited her into the San Marino Area Auxiliary.  Leslie immediately joined the committee that produced our annual fund raiser, “A Night at the Academy,” and eventually co-chaired its successor, “Swingin’ on a Star.”  In 2005, she joined the Five Acres board of directors where she’s served on the finance, program, development and board affairs committees.

Early in her career Leslie joined the Junior Chamber of Commerce where she got hooked on helping at-risk children when she played Mrs. Claus delivering toys to local needy children.  She continues this personal connection with vulnerable youth through the San Marino Auxiliary’s Family Friends program for the teenagers living in our group homes as well as our scholarship recipients through support of the Nash Scholarship Fund.

“It’s all about the kids,” Leslie says.  “Five Acres is in the forefront.  You can feel good about giving your time and money here.  There are so many ways to be involved, and I feel appreciated.  The people are genuinely fun to be with.  I don’t see myself ever stopping!”

When it came time to put her estate plan together, Leslie freely admits that it was her attorney who suggested she include charitable contributions, especially given her involvement with The Salvation Army, Tournament of Roses and Five Acres.  “It’s so easy to do.  Why not leave something to what you’ve supported?”

For information about remembering Five Acres children and families in your estate planning, please contact Cynthia Nickell at (626) 798-6793 Ext. 2250 or email her.