Armand Bayou Nature Center invites you to join us in providing generations to come with the opportunity to reconnect with nature by remembering us in your estate plans or through planned giving. The following are common types of planned gifts. These are simply an overview of your options, and are not intended to constitute tax, accounting or legal advice. Donors should consult with their financial and tax advisors regarding a planned gift.
Wills or Trusts
You can designate part of your estate to ABNC by including a bequest in your will. ABNC can be a primary or a contingent beneficiary. Your gift is fully deductible for federal estate tax purposes, and there is no limit on the deduction your estate can claim; and your gift is usually exempt from state inheritance taxes.
A bequest can be a specific gift to ABNC (“I bequeath to Armand Bayou Nature Center (Tax ID # 23-7403757), located at 8500 Bay Area Blvd, Pasadena, Texas 77507 the sum of Ten Thousand [$10,000] Dollars”). Or it can deliver a percentage of the balance remaining in your estate after taxes, expenses and specific bequests have been paid — what’s known as the residue (“I bequeath Ten [10%] Percent of the residue of my estate”).
Life Insurance Policies
You can name Armand Bayou Nature Center as primary or contingent beneficiary of your life insurance policy. At death the benefits will pass to ABNC free of federal estate tax. Also, when added protection of a life insurance policy is no longer needed, transferring the policy's ownership to ABNC can result in tax benefits for you and a generous gift to Armand Bayou Nature Center.
You can name Armand Bayou Nature Center as a full or partial beneficiary of your IRA, 401(k) or other qualified retirement plan. Using retirement assets to make your donation and leaving other assets to your heirs often enables you to give more to your heirs. Simply name ABNC as the beneficiary of a qualifying retirement plan through a beneficiary designation form, ensuring assets will not be included in your taxable estate. After your lifetime, the remainder (or a portion) of your plan passes to ABNC tax-free.
If you are 70½ or older, you can make a one-time or recurring direct distribution, in the amount of your choosing, from your traditional or Roth IRA to ABNC. You can donate up to $100,000 each year without incurring income tax on your withdrawal.
If you are considering creating your legacy at Armand Bayou Nature Center through planned giving please contact Executive Director, Tim Pylate at 281-474-2551