Leave a Legacy
Your Story. Your Legacy. Your Library.
Leaving a bequest to the Pierce County Library Foundation, or making it one of your beneficiaries, is a meaningful way to support the library's mission and ensure its programs and services continue to benefit the community for generations to come. Our partner, FreeWill, is delighted to help you create your legal will. It’s 100% free and can be completed in 20 minutes or less.
Write Your Will Today with FreeWill
Bequests
Benefits
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It’s easy to do and it’s revocable. You can make changes to your bequest at any time.
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You can gift a percentage or a specific amount of your estate or property.
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Your unrestricted bequest gift will build and strengthen our endowment, ensuring invaluable Library programs and services exist for future generations.
Common Bequest Types
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Residuary bequest
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A percent of the remainder of your estate after other specific legacies have been fulfilled.
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Specific bequest
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A specific dollar amount, stated percentage of your estate, or a specified gift-in-kind such as collections, art, books, jewelry, etc.
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Contingent bequest
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A gift that is originally intended for other beneficiaries but, in the event of their prior passing – is redirected as a charitable donation.
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We encourage you to consult a professional advisor to understand the best options for your unique situation prior to making or structuring a planned gift.
Beneficiary Designation
Donations in a will or trust are the most popular type of planned gifts, but there are many other non-probate asset beneficiary designations to explore. Assets not included in your will are called non-probate assets. Examples are 401(k)s, IRA’s, life insurance policies, and other accounts. Designating Pierce County Library Foundation as a beneficiary can have a big impact and may avoid unwanted taxes for your heirs.
​​Have you included the Foundation in your will or trust? Contact us to let us know!
Common Assets to Give
Retirement Funds Gift
You can reduce or even eliminate tax liabilities on your retirement plan by naming Pierce County Library Foundation as a direct beneficiary. The entire amount of your IRA, 401(k) or other retirement accounts may be taxed if you leave them to your heirs. Instead, consider giving them less tax burdened assets like real estate and stock, and use retirement assets to create your legacy gift with the Foundation.
Life Insurance Policy Gift
If you have a life insurance policy that has outlasted its original purpose, you can use it to fund a legacy gift while enjoying tax savings during your lifetime.
Savings Bonds
When you redeem savings bonds, you (or the person to whom you leave your bonds) will owe income tax on the appreciation. Since Pierce County Library Foundation is a tax-exempt organization, 100% of your gift of savings bonds will support our mission to strengthen our libraries.
CDs, Bank & Brokerage Accounts
Naming Pierce County Library Foundation as the beneficiary of a certificate of deposit, a checking or savings bank account, or a brokerage account is one of the easiest ways to positively impact our libraries.
Donor Advised Fund Residuals
Final distribution of contributions remaining in a donor-advised fund is governed by the contract you completed when you created your fund. Please consider naming Pierce County Library Foundation as a successor of your account or a portion of your account value.