Frequently Asked Questions

What is a Legacy Society?

A legacy society, sometimes called a planned giving circle or club, is a special group of donors who have all included a particular organization in their wills or estate plans.  In order to be a part of the legacy society, each donor must inform the organization that they have included a gift to the non-profit in his or her will.  By joining the legacy society, these donors demonstrate their commitment and values while encouraging others to do the same.   

What is an estate plan?

Everyone has an "estate," whether it be in the form of bank accounts, vehicles, real estate, belongings, investments, or other property.  An estate plan (or will) is a legal document that organizes how a person's estate is to be managed in the event of his or her death.  A will or estate plan should be devised with help from a legal or financial professional who has expertise in the laws and policies governing estates, bequests, and inheritance.

Why would I want to think about an estate plan?

An estate plan helps safeguard your intentions, values, and priorities, and can help minimize taxes on your estate.  Without an estate plan, your estate may or may not be handled according to your wishes.  With careful planning, an estate plan can ensure that your assets are distributed as you see fit.  Proper planning can reduce the amount of inheritance taxes, probate costs, and income taxes that your estate and its beneficiaries will sustain.

Estate planning is not restricted by age, wealth, or family structure; anyone can put a plan in place.  A financial or legal professional can help you create a clear, legally sound plan.  As your estate grows or your values change, you can always change the plan to reflect your desires.  It's a good idea to revisit your will on a regular basis.  

How can I make sure my loved ones are taken care of?

Part of your estate planning may be to ensure that specific loved ones receive certain assets.  With an estate plan, you can also designate a non-profit organization as a beneficiary.  Some people feel that they must choose between leaving assets to their loved ones or to a charity; however, in many cases an annuity or trust can be designed to provide financial support to both loved ones and beloved organizations.  

Doesn't changing a will take a lot of work?

Depending on your unique plan, a change to your will may be as simple as adding a stand-alone codicil.  Jubilee has offered sample language here, to be used only with the guidance of your legal or financial professional.  

How do I remember Jubilee Park in my estate plan?

You can include Jubilee Park as a beneficiary of your estate in many ways, several of which are listed here.  You may choose to bequeath all or part of certain assets to Jubilee, or you may choose to designate all or part of the remainder of your estate after specific gifts are fulfilled.  The best way to ensure the viability of your plan is to talk with your financial or legal advisor.  Your advisor may want to use the language or information featured here.

How will my planned gift be used?

The Board of Directors of Jubilee Park & Community Center monitor the financial health and programmatic impact of Jubilee's work, with fiduciary responsibility to ensure that your support will be carefully stewarded.  The Board also maintains a gift acceptance policy to direct any donations that are made without specific designation.  We welcome a discussion of where and how you would like your gift to be used. 

Why should I share that I've remembered Jubilee in my will?

We hope to celebrate your commitment and to welcome you to a circle of donors whose generous legacies are to be sustained for decades to come.  By joining the Jubilee Legacy Society, you'll help others know that Jubilee is important to you-- and maybe even encourage them to do the same! 

Keep in mind that your legacy is entirely yours.  A discussion of planned giving does not obligate you to add Jubilee to your will, and the inclusion of Jubilee in your will is a decision you are free to adjust.  Should you inform Jubilee that you have included the organization in your will, Jubilee will only recognize your intention with your permission.

What if I change my mind?

You can change your estate plan any time you wish.  Revisiting your estate plan with your professional advisor on a regular basis is an excellent idea.  Please let us know if we can be of help as your plan progresses.

How do I join the Jubilee Legacy Society?

Joining the Jubilee Legacy Society takes a minimum of two steps:

  1. Include Jubilee Park & Community Center in your will, with the help of your certified financial or legal advisor.
  2. Inform Jubilee that you have made a planned gift to Jubilee!  We are eager to welcome you to this special group, and to thank you for your forward-thinking generosity. 

Key Points:

  • Your estate plan will remain personal, private, and flexible according to your preference.
  • Membership to the Jubilee Legacy Society sends a clear message to your loved ones while setting an example for other Jubilee supporters. 
  • Along with financial and legal benefits of a strong estate plan, members of the Jubilee Legacy Society receive special recognition and the assurance that their commitment to Jubilee lives on. 
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