Planned Giving

Planned Giving provides a way to fulfill your charitable and philanthropic intentions with gifts made to Lutheran Social Services of Southern California from your estate in accordance with specific plans you have made during the course of your lifetime.

Some of the greatest opportunities to arrange for your charitable contributions may occur at the same time you are making other major business, personal, and financial decisions, e.g., when you write or revise a will; sell a business or other major asset; plan for retirement; and/or receive an unexpected financial windfall. Planned giving instruments can be simple, or sophisticated enough to provide for a complex array of commitments to families, friends, businesses, and charitable institutions. Planned giving affords individuals of all income levels the opportunity to give something back to the community, as even a small percentage of any estate can be bequeathed to charity.

Lutheran Social Services of Southern California welcomes the opportunity to work with you and your financial and legal advisors to execute your philanthropic vision.

Lutheran Social Services of Southern California is equipped to translate any of the following planned giving vehicles into lasting legacies:

Bequests

A charitable bequest is one of the easiest ways to make a lasting gift that will continue to give long after you are gone. A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes to the recipient resulting from the carefully planned use of tools like a testamentary charitable trust. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes.

Bequest Types

General Bequest

A general bequest is probably the most popular type of charitable bequest. You simply leave a specific dollar amount to Lutheran Social Services of Southern California. For example, a bequest of $10,000 is a general bequest.

Specific Bequest

A specific bequest involves making a gift of a specific asset. For example, a bequest of a specified stock, real estate, or a vacation home is a specific request.

Percentage Bequest

Another kind of bequest involves leaving a percentage of your overall estate or a residuary estate to Lutheran Social Services of Southern California. If fortune changes the size of the estate over the years, this bequest will change in the same proportion.

Residuary Bequest

A residuary bequest is used to give a charity all – or a portion of – one’s property after all debts, taxes, expenses and all other bequests have been paid. A common residuary bequest involves leaving “the rest of the property” to Lutheran Social Services of Southern California.

Contingent Bequest

A contingent bequest is used to provide for the situation when a beneficiary dies before you or disclaims the property. To prepare for such an occurrence, consider naming Lutheran Social Services of Southern California as the contingent beneficiary. This will ensure that the property will pass to Lutheran Social Services of Southern California in one of these situations rather than to unintended beneficiaries.

Sample Bequest Wording

Bequest Language

In order to make a bequest, you should speak with your attorney. Your attorney can help you include a charitable bequest in your estate plan. We have provided some basic bequest language to assist you and your attorney.

Sample Wording for Gifts to Lutheran Social Services of Southern California

By Will or Trust Agreement

I give, devise and bequeath (description of assets or percent of residual estate) to Lutheran Social Services of Southern California, to be placed in (name of the fund) Fund to be held by Lutheran Social Services of Southern California in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of Lutheran Social Services of Southern California, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. Lutheran Social Services of Southern California is a qualified charitable organization located at 999 Town & Country Road, Suite 100, Orange, CA 92868, Federal Tax ID #95-2225798.

The above form is sufficient if the donor desire that his or her gift (bequest) be used at the discretion of Lutheran Social Services of Southern California to support current charitable needs.

However, if it is desired that the gift (bequest) be held in a named fund and applied to a specific organization or field of interest, add the following:

The (name of fund) of Lutheran Social Services of Southern California will be held in perpetuity, not in trust but in fee simple, preserving the name with grants directed to the following charitable interests and primary concerns with regard given to the current priority needs at all times, with the reasonable spending policy amount to be available in the sole discretion of Lutheran Social Services of Southern California a qualified charitable organization located at 999 Town & Country Road, Suite 100, Orange, CA 92868, Federal Tax ID #95-2225798.

(name of organization(s) or areas of charitable and/or geographic interests.)

Specific Bequest:

If you are considering making an outright bequest to Lutheran Social Services of Southern California, we recommend the following language:

Bequest of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Lutheran Social Services of Southern California, to be held by Lutheran Social Services of Southern California in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of Lutheran Social Services of Southern California, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. Lutheran Social Services of Southern California is a qualified charitable organization located at 999 Town & Country Road, Suite 100, Orange, CA 92868, Federal Tax ID #95-2225798.

Bequest of Specific Personal Property

I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Lutheran Social Services of Southern California, to be held by Lutheran Social Services of Southern California in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of Lutheran Social Services of Southern California, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. Lutheran Social Services of Southern California is a qualified charitable organization located at 999 Town & Country Road, Suite 100, Orange, CA 92868, Federal Tax ID #95-2225798.

Bequest of Specific Real Estate

I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Lutheran Social Services of Southern California, to be held by Lutheran Social Services of Southern California in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of Lutheran Social Services of Southern California, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. Lutheran Social Services of Southern California is a qualified charitable organization located at 999 Town & Country Road, Suite 100, Orange, CA 92868, Federal Tax ID #95-2225798.

Percentage Bequest

If you are considering making a bequest of a percentage of your estate to Lutheran Social Services of Southern California, we recommend the following language:

I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Lutheran Social Services of Southern California, to be held by Lutheran Social Services of Southern California in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of Lutheran Social Services of Southern California, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. Lutheran Social Services of Southern California is a qualified charitable organization located at 999 Town & Country Road, Suite 100, Orange, CA 92868, Federal Tax ID #95-2225798.

Residual Bequest

I hereby give, devise and bequeath to Lutheran Social Services of Southern California the rest, residue and remainder of my estate, to be held by Lutheran Social Services of Southern California in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of Lutheran Social Services of Southern California, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. Lutheran Social Services of Southern California is a qualified charitable organization located at 999 Town & Country Road, Suite 100, Orange, CA 92868, Federal Tax ID #95-2225798.

Contingent Bequest

If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Lutheran Social Services of Southern California DESCRIPTION OF PROPERTY, to be held by Lutheran Social Services of Southern California in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of Lutheran Social Services of Southern California, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. Lutheran Social Services of Southern California is a qualified charitable organization located at 999 Town & Country Road, Suite 100, Orange, CA 92868, Federal Tax ID #95-2225798.

Other Planned Giving Vehicles

 

The Charitable IRA

The charitable IRA provides a very simple way to gift the community. All that’s required is that you name Lutheran Social Services of Southern California as the beneficiary of your IRA or qualified retirement plan. Such a gift avoids the double taxation of IRA funds – first as part of the estate and then as income to the beneficiary – preserving more estate assets for good works in the community.

Like other planned giving contributions, IRA proceeds can be used to establish a named fund or added to LSSSC’s Unrestricted Endowment Fund.

The Charitable Gift Annuity

This type of gift begins with a simple agreement between the donor and Lutheran Social Services of Southern California: in exchange for a gift of assets, typically cash or stock, LSSSC promises to pay the donor a guaranteed lifetime income. The donor can begin receiving the income immediately or defer payments until reaching a certain age. The donor realizes significant tax advantages — an immediate charitable tax deduction and consideration of a portion of the income payments as tax-free return of principal.

Life Insurance Policies

A life insurance policy can also be converted to a generous vehicle for philanthropy. The donor simply irrevocably assigns his or her insurance policy to Lutheran Social Services of Southern California and names LSSSC as a beneficiary. Donors receive tax deductions equivalent to the policy’s cash surrender value or for the amount contributed (to LSSSC) to pay the premium, and can use the life insurance to establish a charitable fund of any kind.

Life Estates

Your primary residence or a second home is also, potentially, a charitable asset. A donor can gift a residence, realize a current income tax deduction, and continue to live in the home until his or her death. When Lutheran Social Services of Southern California receives the home, it will sell the property and use the proceeds to support the charitable organizations or purposes the donor has identified, or add the funds to its Unrestricted Endowment Fund.

Stocks or Shares

You can receive distinct tax advantage for donating stocks and other appreciated securities at the time of contribution. To donate Stocks or Shares or any other fixed assets, such as artwork, real property, collections and antiquities please schedule a consultation with one of our Planned Giving Team members. 

Donor Advised Funds

Donor Advised Funds (DAFs) are charitable investment accounts that help you manage donations to the organizations that mean the most to you — like Lutheran Social Services of Southern California. They are, in essence, personal savings accounts that you set up with a nonprofit organization (i.e. sponsoring organization), or a brokerage firm or bank that has an existing Donor-Advised Fund, to manage your charitable giving.

When you contribute cash, securities, or other assets to DAFs, you qualify for a federal income tax deduction, and the money grows tax free as you as consider the timing and impact of grants you request from the fund to support charitable organization(s) of your choice.

For more information, please schedule a consultation with one of our Planned Giving Team members. 

Thank you for considering Lutheran Social Services of Southern California in your legacy giving plans. We welcome the opportunity to speak to you about your vision and help make it a reality. Your gift will help support our mission for generations and make a significant impact on the lives of many people throughout Southern California. Please schedule a consultation with one of our Planned Giving Team members.