Leave Your Legacy

Making The Valerie Fund a beneficiary in your will or trust is a thoughtful and enduring way to help ensure that children with cancer and blood disorders continue to receive the care, support, and hope they deserve. Here are several simple ways to make The Valerie Fund a part of your lasting legacy through a bequest in your will, a revocable trust, or our IRA.

Making a Bequest in Your Will (or adding a codicil to your existing will)

A codicil is a brief legal document that amends an existing will without requiring a full rewrite. A codicil must be executed with the same formalities required for executing a will (typically signing before at least two witnesses and a notary) and should be kept with your original will.

We have provided sample forms of codicils with example language for naming The Valerie Fund as a beneficiary in your will or codicil. (NJ, NY, or FL samples are available). Since a codicil is legally read together with your existing will, it is important that the provisions of your codicil and your will are consistent and coordinate properly. Any codicil based on a sample should be reviewed and executed in the presence of an attorney licensed in the state in which you reside.

Make a Gift to The Valerie Fund in your Revocable Trust

Even though a revocable trust is typically created by someone during their lifetime, this type of trust often works in tandem with a will to dispose of an individual’s assets upon death. If you have a revocable living trust, you can add The Valerie Fund as a beneficiary through a trust amendment. In some states, you must execute a revocable trust with the same testamentary formalities of a will.

We have provided a sample form of trust amendment with example language for naming The Valerie Fund as a beneficiary of your revocable trust. (NJ, NY, or FL samples are available). Since a trust amendment is legally read together with the existing trust agreement, it is important that the provisions of your amendment and existing trust agreement are consistent and coordinate properly. Any trust based on a sample should be reviewed and executed in the presence of an attorney licensed in the state in which you reside.

Designating The Valerie Fund as a Beneficiary of Your Retirement Account

Naming The Valerie Fund as a beneficiary of all or part of your IRA, 401(k), or other tax-deferred retirement account is often one of the most tax-efficient ways to give. When beneficiaries receive distributions from a tax-deferred retirement account upon your death they must generally pay income tax on those amounts. In contrast, if the account is left to charity, the charity can receive the full amount of the account tax-free, since charities are exempt from income tax. This maximizes the impact of your charitable bequest because it leaves other assets—such as cash, stock, and real estate—available for distribution to your individual heirs. These types of assets are preferable to tax-deferred retirement accounts because they do not create taxable income for a beneficiary when inherited. Additionally, these types of assets typically receive a step-up in basis at death, meaning that a beneficiary can sell the assets with little to no capital gain (except with respect to post-death gain).

Steps:

• Log in to your retirement account (e.g., Vanguard, Fidelity, Schwab).
• Locate the “Beneficiaries” or similarly titled section under account settings.
• Add The Valerie Fund as a primary or contingent beneficiary using the following information:

Legal Name: The Valerie Fund
Address: 2101 Millburn Avenue, Maplewood, NJ 07040
Federal Tax ID (EIN): 22-2126867

Specify the percentage or amount you wish to allocate.

Save and confirm your changes with the custodian and notify your financial advisor or estate attorney.

The information provided in this document is for general informational purposes only and is not intended as legal, tax, or financial advice. The Valerie Fund does not provide legal, accounting, or financial planning services, and nothing herein should be construed as the rendering of such advice.

Individuals should consult with their own qualified legal, tax, or financial advisors to determine how a gift or bequest to The Valerie Fund fits into their personal estate and financial plans, and to ensure compliance with all applicable state and federal laws.

References to specific documents (such as codicils, trust amendments, or beneficiary designations) are provided as examples only and may require modification to fit your personal circumstances or the requirements of your jurisdiction. The Valerie Fund recommends that all estate planning documents be prepared and executed under the guidance of a licensed attorney.