Leaving a legacy gift for the Drug Policy Alliance is one of the most significant contributions you can make in the fight to end the war on drugs. A legacy gift is a wise investment that may provide valuable tax benefits without affecting your income.
By making a legacy gift, you will make a meaningful difference and become a member of the Ashawna Hailey Planned Giving Society, a growing group of individuals who have taken the extra initiative for the future of drug policy by including DPA in their estate plans.
Legacy giving is simple: just make the Drug Policy Alliance a beneficiary in your will, retirement plan, life insurance, trust, or other estate planning vehicles. Learn more about the different ways you can leave a legacy gift below.
Please note: The information provided below is not legal advice. Any prospective donor should seek the advice of a qualified estate and/or tax professional to determine the consequences of their gift.
Including the Drug Policy Alliance in your will (also known as making a bequest) allows you to make a meaningful impact on the fight to end the war on drugs without having to give up crucial assets needed during your lifetime.
To make a bequest to the Drug Policy Alliance, you will need to use the correct language in your will:
“I hereby give and bequeath [cash amount, percentage amount, or property you are giving] to the Drug Policy Alliance, 131 West 33rd Street, 15th Floor, New York, NY 10001, 501(c)(3) Tax ID number: 52-1516692, for its general purposes.”
To make a gift of retirement assets, such as a 401(k), 403(b), IRA, or pension fund, you can simply name the Drug Policy Alliance as the beneficiary or contingent beneficiary of all or part of your retirement account, at least for those in plans that allow you to name beneficiaries. After your death, if your primary beneficiary does not survive you, the remaining assets will go to the Drug Policy Alliance.
You can name the Drug Policy Alliance as the beneficiary of all or a portion of the proceeds of your policy, or you can transfer ownership of the policy to the Drug Policy Alliance outright. You can also name the Drug Policy Alliance as the contingent beneficiary of your policy.
Charitable remainder trusts are created by transferring assets into a trust, which provides income to your spouse, partner, children, a friend, or even to yourself over a period of time. After a period of time passes, the principal transfers to the Drug Policy Alliance. A charitable lead trust functions like a mirror image of a charitable remainder trust. You create a charitable lead trust by transferring assets into the trust. The trust then pays the Drug Policy Alliance an annual income for a fixed number of years, after which the principal held in the trust reverts to either you, your spouse, partner, children, or any other beneficiaries you name.
When you create a lifetime charitable trust, you will receive an immediate tax deduction based on the Drug Policy Alliance’s remainder interest in the trust and avoid estate taxes. If you create a lifetime charitable trust with an appreciated asset, you also defer capital gains taxes.
Drug Policy Alliance
Legacy Giving
131 W 33rd Street, 15th Floor
New York, NY 10001
Please note: The information provided above is not legal advice. Any prospective donor should seek the advice of a qualified estate and/or tax professional to determine the consequences of their gift.
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