This is a group of individuals who have pledged a portion of their estate (cash, life insurance policy or philatelic materials) or elected to participate in a planned giving program such as a charitable remainder trust with the American Philatelic Society or the American Philatelic Research Library as a beneficiary.
Legacy Society members receive invitations to the Tiffany Dinners, are listed in the annual Recognition Issue (unless requested otherwise) and may be eligible for Naming Opportunities. To become a Legacy Society member notify the Development office that you have remembered the Society or Library. We welcome, but do not require, a copy of the will, life insurance policy, or other documents that show us as a beneficiary.
Sample Language for Bequests (below) and additional information on Planned Giving are also available from the Development Office. One or more attorneys who are members of the APS have also volunteered their free legal assistance to help individuals prepare simple documents.
Bequests
The most common and simplest form of planned giving, a bequest is a gift made through your Will or Codicil that will take effect when your estate is settled. A bequest to the APS and or APRL can be written into your Will or added to an existing Will by amending it through a Codicil.
A bequest removes assets from the taxable estate and thus may place the taxable estate in a lower tax bracket. Bequests can take several forms:
A Percentage Bequest allocating a fixed percent of your estate;
“I give, devise, and bequeath to the American Philatelic Society, a non-profit organization located at 100 Match Factory Place, Bellefonte, Pennsylvania 16823, ______ percent of my estate, both real and personal property of whatever kind and whatsoever situated.
A Residual Bequest which grants the residue, or portion of the residue, of your estate to the APS after explicit bequests have been made;
“I give, devise, and bequeath to the organization and address, all (or ___%) of the rest, residue, and remainder of my estate, both real and personal property of whatever kind and whatsoever situated.
A Specific or Explicit Bequest for a stated dollar amount or securities;
I give devise and bequeath to ______, the sum of _____ dollars (or describe the specific property or security you intend to bequeath).”
A Contingent Bequest in case one or more of your bequests cannot be fulfilled;
“If any of the above-named beneficiaries should predecease me, I hereby bequeath his/her share of my estate to _________.
