Planned Giving is an excellent way to ensure your continued support of Friends of Hudson River Park. By remembering Friends in your estate plans, your legacy can continue to maintain Hudson River Park as a world-class waterfront park.
Bequests are one of the simplest and most effective ways to provide for Friends of Hudson River Park’s future. They are easy to arrange, can be any size, will not affect your assets or income during your lifetime, and they are revocable at any point throughout your lifetime.
Your attorney can include Friends of Hudson River Park when writing your will or when your revise it, or can add a simple codicil at any time. Please note our tax ID #: 13-4112913.
Bequests can be made to Friends of Hudson River Park in several ways. We suggest you consult your attorney to help determine the best strategy for your personal situation.
- Specific or Outright Bequests indicate an exact dollar amount, asset or tangible property you wish to leave to Friends of Hudson River Park. Or you can indicate a specific percentage of the total worth of your estate.
- Residuary Bequests leave the remaining portion of your estate (or a percentage of the total) after other bequests have been satisfied.
- Contingency Bequests take into account the possibility of changing circumstances and depends on certain events taking place. For example, you might leave Friends of Hudson River Park a bequest if another beneficiary predeceases you.
IRAs, Keoghs or other Retirement Plans: Naming Friends of Hudson River Park as the beneficiary of your current retirement plan enables you to avoid substantial taxes that would have been due if a retirement plan were left to a non-spousal heir. When left to Friends of Hudson River Park, the assets will avoid taxation and pass directly to the organization. Simply complete a beneficiary designation form obtained from your plan administrator and name Friends of Hudson River Park as a full or partial beneficiary.
Gifts of Insurance: A donor can use an existing life insurance policy that is no longer needed to make a gift to Friends of Hudson River Park by donating a paid up policy. Or, a donor may create a new policy expressly for the benefit of Friends of Hudson River Park. All such gifts must be in compliance with New York State and Federal laws and regulations.
Savings Accounts: Designating Friends of Hudson River Park as a beneficiary of a savings account is simple and allows you the full use of the savings during your lifetime.
Gifts of Real Estate will be accepted within certain guidelines and following a review by legal counsel.