Please remember Palos Verdes Art Center / Beverly G. Alpay Center for Arts Education (PVAC) in your Estate Plan
Planning ahead
Just as you may be supporting Palos Verdes Art Center / Beverly G. Alpay Center for Arts Education during your lifetime, you may also want to support the arts in the future by making a gift upon your death. Including PVAC in your estate plan costs nothing now, yet it will give you a great deal of satisfaction to know that your future gift will benefit the Art Center as a whole, or you can select a specific program to endow. You can select Exhibitions, Studio School, or Outreach (includes Art At Your Fingertips, Special Mornings, Partners in Art).
A gift through your estate plan can be changed at any time, and if you wish, you can make your plans anonymously. You can include PVAC in your estate plan in multiple ways.
Bequest
A bequest is a transfer of cash, securities, or other property through a will or a living trust. A bequest to PVAC can be made of a specific dollar amount, of a specific asset, or a percentage of your estate, or even of all or a portion of what is left after you have made specific bequests to our family and others.
Retirement Plan Assets
The best way to make a gift of retirement plan assets is to name PVAC a primary or secondary beneficiary on your plan’s beneficiary designation form. This can be an extremely tax-efficient method of making a gift because retirement plan assets may be subject to both income tax and estate tax before an individual beneficiary can receive them after your death. The combined taxes may significantly reduce the amount to the individual beneficiary. Retirement plan assets which are distributed to PVAC are not subject to income tax or estate tax, so PVAC can use 100 percent of the gift.
Life Insurance
You can make PVAC the beneficiary of a life insurance policy. You may also, under certain circumstances, make PVAC the owner of a life insurance policy on your life during your lifetime and receive an income tax charitable deduction for a portion of the face value of that policy.
Please consult with your attorney or tax advisor as individual circumstances vary.
To explore these giving opportunities, please contact: Daniela Saxa-Kanelo, CEO/Executive Director at dsk@pvartcenter.org.
