Planned Giving

Examples of the most common planned gifts are described below, though there are a variety of other ways to make a deferred commitment to Special K Ranch, Inc. Please contact the ranch to learn more about these and other options that are available.

BEQUESTS

A bequest is a gift made by naming Special K Ranch, Inc. as a beneficiary in your will. This is both a simple and popular method for remembering Special K Ranch, Inc. in perpetuity. If you already have a valid, up-to-date will, your attorney can add Special K Ranch, Inc. as a beneficiary through a simple amendment to your will called a codicil. Bequests of all sizes are appreciated and encouraged.

For a simple, straightforward bequest, we suggest the following language:

"I give and bequeath the sum of ___________dollars to Special K Ranch, Inc. a nonprofit corporation located between Columbus and Park City, Montana, on old highway 10. for its general purposes."

In the alternative, you could bequeath a particular asset or percentage (%) of your estate rather than a dollar ($) amount.

LIVING TRUSTS

Please note that including the Ranch in a revocable living trust or similar vehicle works in much the same manner as a bequest, and, therefore, this information applies to both types of planned gifts. Your attorney can assist you in tailoring the language to your needs and wishes.

LIFE INSURANCE

Whole life, universal, and other forms of permanent life insurance policies will qualify you for membership in the Special K Ranch, Inc. Legacy Circle while providing an important planned gift for the Ranches future. You can contribute all or part of an insurance policy that you own but no longer need.

When Special K Ranch, Inc. is named as the owner and beneficiary of an existing policy, your annual premium payments become tax-deductible. In addition, you generally are able to deduct an amount approximately equal to the current cash value of the policy for income tax purposes. Another option is simply to purchase and name the Ranch as owner/beneficiary of a new life insurance policy.

CHARITABLE GIFT ANNUITIES

A charitable gift annuity (currently available for gifts of $5,000 or more in most states) provides you with a guaranteed fixed income for life in exchange for your contribution, which may be in the form of cash and/or appreciated securities that you have owned for at least one year. The annuity is governed by a simple contract, and payments are made to you on a quarterly or other periodic basis. Annuity rates are based on your age at the time of the gift and typically range from 5.0 percent up to 11.3 percent*. The older you are, the higher the annuity rate. Individuals age 50 and older are eligible to begin receiving payments immediately.

Charitable gift annuities are irrevocable and should be given careful consideration. They provide the following:

  • Fixed regular payments
  • The potential to increase income
  • An immediate tax deduction for a percentage of the gift amount
  • Tax savings on future income
  • The possibility of avoiding some capital gains taxes on appreciated assets

Annuities also may be set up for the benefit of a loved one. Please talk with our Office of Gift Planning regarding potential gift tax and capital gains implications with this type of gift.

DEFERRED PAYMENT ANNUITIES

For individuals younger than age 50 or for those who wish to delay the income stream from an annuity until retirement, there are deferred payment charitable gift annuities. These annuities work the same as those described above, but payments are deferred a minimum of one year, resulting in a higher annuity rate. The longer payments are deferred, the more the annuity rate increases. Annuitants must be at least age 50 at the date of first payment.

*Rates are subject to change based on the recommendations of the American Council on Gift Annuities and also may vary with the timing of the gift.

RETIREMENT PLANS

One of the simplest and most "tax-wise" ways to make a gift to Special K Ranch, Inc. is through your IRA, 401 (k), 403 (b), or other retirement plan. Because retirement plans at distribution may incur considerable taxation to your estate and heirs, a gift of all or some of these assets may be one of the lowest-cost ways to provide critical support for the Ranch's work.

You have the option of naming Special K Ranch, Inc. as a primary or contingent beneficiary of your retirement plan and designating either a stated percentage or dollar amount. Individuals often want their assets to provide for family members or friends. However, it is important to name a contingent beneficiary to receive the assets in case your named individual beneficiaries do not survive you.

CHARITABLE REMAINDER TRUST

You and your attorney can create an irrevocable unitrust or annuity trust agreement naming yourself, a bank, or Special K Ranch, Inc. to serve as trustee. You may transfer cash, securities, or other property to the trust. The trust than pays income to you and/or other beneficiaries for life or a term of years (not to exceed 20) at a certain percentage or dollar amount as determined when the trust is established. When the trust’s term is concluded, the remainder is distributed to Special K Ranch, Inc.

The income and estate tax advantages of a charitable remainder trust can be significant. A trust can be an especially attractive method of giving for those who own stock with a low cost basis.

Please contact the ranch for more information.