Planned Giving

You can also make a future gift to Farm of the Child by naming the organization as a beneficiary of certain financial or insurance accounts. Depending on the account, this may include an IRA, 401(k), 403(b), other qualified retirement plan, investment or brokerage account, donor-advised fund, or life insurance policy.

A beneficiary designation can be a simple way to provide for the future of Farm of the Child while retaining use and control of your assets during your lifetime.

Making a Beneficiary Designation

1. Request a beneficiary designation form from your financial institution, retirement plan administrator, or insurance provider.

2. Name Farm of the Child as a beneficiary and indicate the percentage or amount you wish the organization to receive.

3. Return the completed form to the appropriate institution and keep a copy with your estate-planning documents.

Naming Farm of the Child as a beneficiary generally does not prevent you from continuing to use or manage the account during your lifetime. For retirement accounts, you can continue to take distributions during your lifetime and, in most cases, change your beneficiary designation if your circumstances change.

For personally owned life insurance, you can ask your agent or call your insurance company for a “Change of Beneficiary” form. For life insurance provided through an employer, simply ask for the proper form in their human resources department.

If you are considering changing a beneficiary designation, we encourage you to discuss your plans with your estate-planning attorney, financial advisor, and the institution that administers your account or policy.

Important: Beneficiary designations generally transfer assets outside of the probate process and can supersede provisions in your will. Review your beneficiary designations regularly and make sure they are consistent with your overall estate plan.

One of the simplest ways to create a lasting legacy for Farm of the Child is to include the organization in your will or living trust. A charitable bequest allows you to support the mission of Farm of the Child while maintaining control of your assets throughout your lifetime.

There are several ways to make a bequest. You may leave Farm of the Child a specific dollar amount, a particular asset, a percentage of your estate, or a portion or all of the remainder of your estate after other gifts and obligations have been addressed.

The following language may be used when making a bequest to Farm of the Child:

1. Outright Bequest in Will
(a) Specific Dollar Amount
“I give the sum of $______ to Farm of the Child, 100 S. Ashley Drive, Suite 600, Tampa, FL 33602 (EIN 43-1776877).”

(b) Specific Property
“I give all my right, title and interest in and to [DESCRIBE PROPERTY] to Farm of the Child, 100 S. Ashley Drive, Suite 600, Tampa, FL 33602 (EIN 43-1776877).”

(c) Share of, or Entire Residue, of Estate
This type of bequest gives all or a specified percentage of the assets remaining in an estate after debts, taxes, expenses, and other bequests have been paid.

“I give (all/or ____%) of the residue of my estate to Farm of the Child, 100 S. Ashley Drive, Suite 600, Tampa, FL 33602 (EIN 43-1776877).”

2. Conditional Bequest in Will
A conditional bequest takes effect if a person named in the will does not survive the donor. For example:

“If my husband/wife does not survive me, I give the sum of $______ to Farm of the Child, 100 S. Ashley Drive, Suite 600, Tampa, FL 33602 (EIN 43-1776877).”

DescriptiIf you have a qualifying IRA, a qualified charitable distribution (QCD) can offer another way to support Farm of the Child.

A QCD allows eligible IRA owners to make a charitable gift directly from their retirement account to a qualifying nonprofit organization. This can be an effective way to support the mission of Farm of the Child while potentially providing tax benefits.

You may be eligible to make a charitable IRA rollover gift if:

• You are age 70½ or older.

• The funds are transferred directly from a qualifying IRA, subject to applicable annual limits.

• The distribution is made directly to an eligible public charity, such as Farm of the Child. QCDs generally cannot be directed to supporting organizations, donor-advised funds, charitable trusts, or gift annuities.*

Because tax rules and eligibility requirements can change, be sure to consult your tax professional or financial advisor before making a QCD. If you are interested in making a QCD to Farm of the Child, please contact Allison Doerr, Development and Operations Manager, allison@farmofthechild.org, (727) 475-4459.