Planned Giving

Planned gifts create opportunities for both the Society and our donors. A planned gift to the La Jolla Historical Society can guarantee that you and your family leave a lasting legacy for the Society and the community. Through gift planning you can make charitable contributions to support your own personal objectives while minimizing after-tax costs to the extent allowable by law.

Determining what gift is right for you is just as important as making the gift. The best plan for you will balance what you wish to accomplish for yourself, your family, and your charitable interests in your overall estate and financial plans. We offer numerous options to donors considering planned gifts to the Society:

Bequests

Through a simple provision in your will, you can make a gift to the La Jolla Historical Society which may offer reductions in your estate taxes. Gifts may be for a specific dollar amount, a percentage of the total estate or the residuum after debts, taxes, expenses, and other bequests have been paid. Specific bequests of property such as art objects, rare books, equipment or real estate (under certain circumstances) may also be made. The Society's needs change over time, so unrestricted bequests are especially appreciated, although you may designate your contribution for a particular purpose.

Charitable Gift Annuities

With a gift annuity, you simultaneously make a charitable gift and provide guaranteed payments for life to you and/or another person. The fact that you are making a charitable gift may entitle you to deductions in income, gift and estate taxes.

Deferred Gift Annuities

This annuity appeals to younger donors in their peak earning periods. There is an immediate tax deduction for the gift, but the annuity payments do not start until a future date (usually upon retirement), thereby providing extra retirement income on a potentially tax-sheltered basis.

Charitable Lead Trusts

Charitable lead trusts are good tools through which to make significant gifts of assets that generate an income for the La Jolla Historical Society. Income from these assets flows to the Society for a designated period of time (typically ten to twenty years or more). At the end of that time, the assets are returned to you, your heirs or any other persons designated. This method of giving allows you to direct a sizeable amount of annual income to the Society while guaranteeing that your heirs will ultimately benefit from the asset.

Charitable Remainder Trusts

Charitable remainder trusts may provide you certain tax benefits and a return on the trust assets. After your lifetime, the remainder of the trust transfers to the Society for purposes that you have specifically designated.

Life Insurance

The La Jolla Historical Society accepts gifts of life insurance, preferring that they be in the form of paid-in-full policies. You may choose to name the Society as the beneficiary (or a contingent beneficiary) of a life insurance policy, retaining lifetime ownership and control of the policy, which may create tax benefits for your estate; or you may wish to transfer ownership of a policy to the Society. If you make the Society the owner and beneficiary of a policy, you may be entitled to certain tax advantages.

Retirement and Pension Plans

You may make a charitable gift to the La Jolla Historical Society through your current retirement plan. Income and estate taxes may substantially reduce certain retirement plan assets but many of those taxes can be significantly reduced or eliminated through a properly planned contribution of the retirement plan assets to the Society. There are many options, depending on your personal circumstances. Tax law applicable to retirement/pension plans can be complex and subject to continued change, so be sure to consult your tax, legal or financial advisor before making any decisions.

Real Estate

Real property that has appreciated in value over the years may, if sold, incur a sizable capital gains tax. Under certain circumstances, it may be mutually beneficial to gift the property to the La Jolla Historical Society, eliminating capital gains taxes altogether. Please note that not all gifts of real estate can be accepted by the Society and those that are accepted will, under Society policies, be marketed for immediate sale.

Tangible Personal Property

Gifts of tangible personal property such as art, antiques, collections of rare items, and jewelry, are also welcome. The Society is available to assist with these transfers expeditiously.

Pooled Income Fund

The Society's pooled income fund combines gifts of irrevocable remainder interest from many donors in order to achieve the most favorable investment returns. Each donor is assigned "units of participation" in the fund that are based on the relationship of their contribution to the overall value of the fund at the time of contribution. The net income from the fund is distributed accordingly among the donors annually during their lifetime; after which, the portion of the fund assets attributable to the participant is severed and directed to the benefit of the La Jolla Historical Society.

Of course, everyone's personal circumstances are different, so please consult your tax, financial and/or legal advisor concerning the use of all these tools.The Society is grateful for your support! If we can assist you in any way, please contact us at (858) 459-5335.