Create a Legacy of Hope

Many of our faithful supporters like to include Hope for Haitians in their will. It is an incredible way to make an positive impact for decades to come

For many, people their legacy lives on in their children, grandchildren, and great-grandchildren. But there’s an additional way to create a legacy, one that reaches beyond family and touches the lives of those in need. Including gifts to charity in your will or estate plans provides a way to make lasting positive impact.

Hope for Haitians invites you to learn how you can create a lasting legacy of hope for Haitian families licing in poverty.

The choices you make now can provide hope and opportunity for years to come. By including a gift to Hope for Haitians in your will or estate plans, you can extend your impact far into the future.

legacy

Easy Ways to Leave a Lasting Legacy

A bequest is a gift made through a donor’s will or trust. This is one of the most popular forms of planned giving, as it allows donors to leave a legacy and support their favorite nonprofit after their passing. Here are three approaches to making a bequest:

Specific Bequest: A specific bequest is a straightforward gift where you designate a specific dollar amount or a particular asset to be given to “Hope for Haitians” upon your passing. For example, you may specify in your will that you want to give $10,000 to “Hope for Haitians.” This amount or asset is set aside for the charity’s general charitable purposes, which means the charity can use it where it is needed most.

Percentage Bequest: A percentage bequest involves leaving a portion of your estate to “Hope for Haitians” based on a specified percentage. Instead of specifying a fixed amount, you determine what percentage of your remaining estate (residuary estate) you want to give. For instance, you might decide to bequeath 10% of your residuary estate to “Hope for Haitians.” As your estate’s value changes over time, the gift to the charity will adjust proportionally.

Residual Bequest: A residual bequest is a more comprehensive gift that involves leaving all or a specific percentage of the remaining assets of your estate, both real (property) and personal (assets like investments, bank accounts, and possessions), to “Hope for Haitians.” This means that after all debts, expenses, and specific bequests have been settled, the charity will receive what remains of your estate. For example, you could specify that “Hope for Haitians” is to receive all of the rest, residue, and remainder of your estate after all other obligations are met.

Each of these bequest types allows you to support “Hope for Haitians'” charitable mission while providing for other heirs and offering flexibility in terms of the size and nature of your gift. It’s essential to work with legal advisors to ensure your bequest is accurately and legally documented in your will or estate plan.


Simple Language for a Bequest – “I hereby give, devise, and bequeath [amount] and 00/100 dollars to Hope for Haitians located at PO Box 5647, Rockford IL 61125, Federal Tax ID #81-3160296, for Hope for Haitians’ general use and purpose.”

A life insurance policy can be used to make a charitable gift by naming a nonprofit as the beneficiary of the policy. Upon the donor’s passing, the nonprofit receives the death benefit of the policy.

Naming “Hope for Haitians” as a beneficiary of a life insurance policy is a straightforward process that involves specifying the charity as the recipient of the policy’s death benefit.

Here’s a step-by-step guide on how to do this:

Contact Your Insurance Company: Get in touch with your life insurance company or your insurance agent to inquire about the process of naming a beneficiary. They can provide you with the necessary forms and guidance.

Review Policy Details: Review your life insurance policy to understand its terms and conditions. Ensure that the policy allows for the naming of charitable beneficiaries. Most life insurance policies do permit this.

Determine the Beneficiary Type: You will typically have the option to choose either a primary beneficiary or a contingent beneficiary. A primary beneficiary is the first in line to receive the death benefit, while a contingent beneficiary would receive it if the primary beneficiary predeceases you.

Provide Beneficiary Information: Fill out the beneficiary designation form provided by your insurance company. You will need to provide the full legal name of the charity, which in this case is “Hope for Haitians,” as well as its contact information and tax identification number (EIN).

Specify the Percentage or Amount: You can specify either a percentage of the death benefit or a specific dollar amount that “Hope for Haitians” will receive. Ensure that the designation is clear and unambiguous.

Consider a Revocable or Irrevocable Designation: Some policies allow for either revocable or irrevocable designations. A revocable designation can be changed at any time without the charity’s consent, while an irrevocable designation typically requires the charity’s approval to make changes. Discuss your preference with your insurance company.

Update Beneficiary Designation: If you already have a life insurance policy and wish to name “Hope for Haitians” as a beneficiary, you can usually update the beneficiary designation by submitting a revised form to your insurance company.

Legal Review: It’s advisable to consult with an attorney or financial advisor to ensure that your beneficiary designation aligns with your overall estate planning goals and is consistent with applicable laws and regulations.

Notify the Charity: While not required, it’s considerate to inform “Hope for Haitians” of your intention to name them as a beneficiary. This can help them prepare for the future gift and express their gratitude for your support.

Keep Records: Keep copies of all relevant documents, including the beneficiary designation form and any correspondence related to the designation, with your important financial and estate planning records.

By following these steps, you can name “Hope for Haitians” as a beneficiary of your life insurance policy, ensuring that your philanthropic support will continue even after your passing.

Putting a charity on an account as a beneficiary typically involves designating the charity to receive the assets in that account upon the account holder’s death. This is commonly done with retirement accounts, bank accounts, or life insurance policies. By naming a charity as a beneficiary, the account holder ensures that a portion or all of the account’s funds or benefits will go to the charity as a charitable gift after their passing. It’s a way to support a cause you care about and leave a philanthropic legacy.

Here’s a step-by-step guide on how to do this:

Consult with Professionals: Consider consulting with an attorney or financial advisor to ensure that the beneficiary designations align with your overall estate and financial planning goals.

Contact Your Financial Institution or Plan Administrator: Reach out to the financial institution where your retirement accounts (e.g., IRAs, 401(k)s) and bank accounts (e.g., savings, checking) are held. Inquire about their process for designating charitable beneficiaries.

Gather Account Information: Collect information about your retirement and bank accounts, including account numbers and the names of the financial institutions.

Request Beneficiary Designation Forms: Ask the financial institution or plan administrator to provide you with the necessary beneficiary designation forms for your accounts.

Complete the Beneficiary Designation Forms: Fill out the beneficiary designation forms accurately. Specify “Hope for Haitians” as the charitable beneficiary. Provide the charity’s full legal name, address, and tax identification number (EIN).

Choose Beneficiary Type: Decide whether you want to designate “Hope for Haitians” as the primary beneficiary (first in line to receive assets) or as a contingent beneficiary (receives assets if the primary beneficiary is not available).

Indicate Percentage or Amount: Depending on the account, you may be able to specify a percentage or a fixed amount to be allocated to “Hope for Haitians.”

Revocable or Irrevocable Designation: Understand the difference between revocable (changeable) and irrevocable (requires charity’s approval for changes) beneficiary designations. Choose the appropriate designation based on your preferences.

Review and Sign: Carefully review the completed forms to ensure accuracy. Sign and date the forms as required.

Submit the Forms: Submit the beneficiary designation forms to the financial institution or plan administrator according to their instructions. Keep copies of the completed forms for your records.

Confirm Acknowledgment: Confirm with the financial institution or plan administrator that they have received and processed the beneficiary designation.

Notify the Charity (Optional): While not obligatory, you may want to inform “Hope for Haitians” of your intention to name them as a beneficiary. This can help them prepare for the future gift and express their gratitude for your support.


Simple Language for a Bequest – “I hereby give, devise, and bequeath [amount] and 00/100 dollars to Hope for Haitians located at PO Box 5647, Rockford IL 61125, Federal Tax ID #81-3160296, for Hope for Haitians’ general use and purpose.”

Bequests:

A bequest is a gift made through a donor's will or trust. This is one of the most popular forms of planned giving, as it allows donors to leave a legacy and support their favorite nonprofit after their passing.

Life insurance policies:

A life insurance policy can be used to make a charitable gift by naming a nonprofit as the beneficiary of the policy. Upon the donor's passing, the nonprofit receives the death benefit of the policy.

Charitable beneficiary designation

Putting a charity on an account as a beneficiary typically involves designating the charity to receive the assets in that account upon the account holder's death. This is commonly done with retirement accounts, bank accounts, or life insurance policies. By naming a charity as a beneficiary, the account holder ensures that a portion or all of the account's funds or benefits will go to the charity as a charitable gift after their passing. It's a way to support a cause you care about and leave a philanthropic legacy.

Advanced Philanthropic Strategies

A charitable gift annuity is a contract between a donor and a nonprofit that provides the donor with regular fixed payments for life in exchange for a gift of cash or property. Upon the donor’s passing, the remaining assets are transferred to the nonprofit.

A charitable remainder trust is a type of irrevocable trust that provides the donor with income for life or a set number of years. After the trust term ends, the remaining assets are transferred to the nonprofit.

A charitable lead trust is a type of irrevocable trust that provides income to a nonprofit for a set number of years. After the trust term ends, the remaining assets are transferred to the donor’s heirs or designated beneficiaries.

Charitable gift annuities:

A charitable gift annuity is a contract between a donor and a nonprofit that provides the donor with regular fixed payments for life in exchange for a gift of cash or property. Upon the donor's passing, the remaining assets are transferred to the nonprofit.

Charitable remainder trusts:

A charitable remainder trust is a type of irrevocable trust that provides the donor with income for life or a set number of years. After the trust term ends, the remaining assets are transferred to the nonprofit.

Charitable lead trusts:

A charitable lead trust is a type of irrevocable trust that provides income to a nonprofit for a set number of years. After the trust term ends, the remaining assets are transferred to the donor's heirs or designated beneficiaries.

Your Legacy, Their Hope

At Hope for Haitians, we’ve seen firsthand the transformative power of generosity and commitment. When you choose to leave a legacy with us, you are:

Building Secure Homes: Your legacy extends to constructing secure homes for families who have been living in substandard conditions. A safe and stable home is a fundamental human need and the cornerstone of family well-being.

Developing Safe Water Sources: Your legacy also contributes to developing safe and reliable sources of clean water. Access to clean water is a fundamental necessity for health and community development.

Supporting Education: Your legacy helps support schools, provide scholarships, and equip students with the tools for success.

Improving Healthcare: Access to quality healthcare is a basic human right. Your legacy can help us establish and maintain clinics that save lives.

Fostering Sustainable Development: Your support empowers communities to thrive by promoting sustainable agriculture, clean water initiatives, and economic opportunities.

Contact us to begin a conversation about your Legacy of Hope.