A planned gift allows you to arrange a contribution to charity now that won’t be realized until after your death. It’s a way for you to make a significant impact on the lives of individuals and families in Northern Virginia who desperately need legal aid for generations to come.

Bequests:

If you’re creating or updating your will or estate plans, consider a bequest to LSNV. You have the option to designate a particular amount, a percentage of your estate, or the remainder of your estate. LSNV highly encourages unrestricted gifts, which allow us to determine how to use your funds based on the most pressing needs we have at the time.

To make a bequest, simply provide the following language to your lawyer:

I hereby bequeath to Legal Services of Northern Virginia (EIN 54-1137931), a 501(c)(3) nonprofit organization currently located at 10700 Page Avenue, Suite 100, Fairfax, VA 22030, the sum of $___, or ___% of my estate, or the remainder or residuary of my estate, for its unrestricted charitable use and purpose.

If you would like to restrict your planned gift for a particular purpose or donate some form of property, please reach out to LSNV first to ensure that we will be able to fulfill your charitable wishes and intent. If you don’t want us to know about your designation, we highly suggest using the following language in your bequest:

I hereby bequeath to Legal Services of Northern Virginia (EIN 54-1137931), a 501(c)(3) nonprofit organization currently located at 10700 Page Avenue, Suite 100, Fairfax, VA 22030, the sum of $___, or ___% of my estate, or the remainder or residuary of my estate, or property. This gift should be used for [purpose] if and so long as Legal Services of Northern Virginia determines that the need exists. If Legal Services of Northern Virginia determines upon receipt of the gift or at a later date that it is no longer necessary or not possible (or prudent) to administer my gift as I originally intended, Legal Services of Northern Virginia may, in its sole discretion, direct the use of my bequest for a purpose related as closely as possible to the charitable wishes and intent stated above.

Beneficiary Designations:

When you leave your IRA or 401(k) plan to family or friends, a significant portion of the value can be lost to estate and income taxes. When you name Legal Services of Northern Virginia as the beneficiary, you can ensure that your gift passes tax-free to charity to support your local neighbors in need. In addition to naming LSNV as the beneficiary of your IRA or 401(k) plan, you can also designate us as the beneficiary of your life insurance policy, donor-advised fund, or other savings accounts. Contact your attorney or financial advisor for more information.

Trusts:

A charitable trust holds your assets and distributes a portion to one or more tax-exempt organizations. There are different types of trusts that can be set up, but two of the most popular are the charitable remainder trust, which pays an annual amount to the trustee, then the charity receives the remaining funds, and the charitable lead trust, which pays the charity an annual amount, then the beneficiaries receive the remainder when the trust term ends. A trust can protect your assets, reduce taxes, and provide an income to you or your loved ones. Contact your financial advisor for more information about setting up a trust and naming LSNV as the beneficiary.

If you have included LSNV in your will or estate plans or made another form of planned gift, please let us know by contacting Elizabeth (Liz) Merck at [email protected] or (703) 647-4757. We’d love to welcome you to our LSNV Legacy Circle.