Planned Giving Information | Support | OETA

BEQUEST IN YOUR WILL  |  BENEFICIARY DESIGNATIONS  |  CHARITABLE GIFT ANNUITY
CHARITABLE REMAINDER TRUST  |  RETAINED LIFE ESTATE
 

BEQUEST IN YOUR WILL
Many viewers have provided for OETA in their wills and, for most of them, it is the largest gift to OETA they could ever consider.

In your will, you have choices as to how you name OETA Foundation as a beneficiary. Whichever you select, it is important that your attorney know that bequests should be made to “OETA Foundation, 7403 North Kelley Avenue, Oklahoma City, OK 73111.” Our federal tax identification number is 73-1175503.

  • One possibility is a bequest of a fixed dollar amount. You specify exactly how much you would like the station to receive.
  • Another is to give OETA a percentage of your estate. This makes good sense if you don’t have a clear idea of how much your estate will be worth at your death.

Finally, many people prefer to designate the residuary estate, or a portion of it. Once other heirs are provided for, whatever may be left goes to your favorite public television station.

Tell Your Attorney
The following suggested language will be of interest to your attorney.

“I give and bequeath to OETA Foundation with its offices at 7403 North Kelley Avenue, Oklahoma City, OK 73111, ($___, or ___% of my estate, or my residuary estate).”

Please Let Us Know
If you’re planning to make OETA one of your beneficiaries, we encourage you to tell us now. We can work with you and your advisors to make sure the bequest is planned and administered properly. It also gives us the opportunity to thank you and to welcome you as a member of the Legacy Society. Requests for anonymity are respected.

To Learn More
Estate plans should be made with your financial advisor.  OETA Foundation will be happy to work with you and your professional advisor to discuss the benefits of the plans listed here and how they can work for you. Please contact us anytime: Louise Lee, OETA Foundation, 7403 North Kelley Avenue, Oklahoma City, OK 73111, (405) 848-8501, llee@oeta.tv.

BENEFICIARY DESIGNATIONS
If you would like to include a gift in your estate plans without changing your will, consider making OETA the beneficiary of one of these:

  • A life insurance policy
  • Your IRA or other retirement plan
  • A savings account
  • A stock brokerage account or mutual fund

Easy to Do
Simply contact your insurance agent or IRA administrator and ask for a change of beneficiary form. You might be able to get the form online. Add OETA Foundation, 7403 North Kelley Avenue, Oklahoma City, OK 73111; federal tax ID number 73-1175503 as a new beneficiary to receive a portion of the death benefit/remainder.

For the bank and brokerage accounts, ask your representatives how you can make them Transfer on Death (TOD) accounts. Then name OETA Foundation as the entity that will receive whatever remains in those accounts at your death.

Please Let Us Know
Commitments like these make you a member of our Legacy Society. Please contact us to let us know you are a new member: Louise Lee, OETA Foundation, 7403 North Kelley Avenue, Oklahoma City, OK 73111, (405) 848-8501, llee@oeta.tv.

To Learn More
Estate plans should be made with your financial advisor.  OETA Foundation will be happy to work with you and your professional advisor to discuss the benefits of the plans listed here and how they can work for you. Please contact us anytime: Louise Lee, OETA Foundation, 7403 North Kelley Avenue, Oklahoma City, OK 73111, (405) 848-8501, llee@oeta.tv.

CHARITABLE GIFT ANNUITY
Viewers 80 years or older who would like to make a large contribution of $20,000 or more, but need the income from their investments, often find the charitable gift annuity is the perfect way to support the future of the station.

How a Charitable Gift Annuity Works
Make a gift of cash or stocks/bonds to OETA in exchange for a gift annuity. We reinvest the assets and pay you fixed payments for life (and, if desired, for another beneficiary’s lifetime). These payments do not fluctuate and they are made every three months as long as the income beneficiary is living. Then, the funds are used to support the kind of programming you enjoy.

Benefits for Viewers Who Support OETA This Way

  • A portion of the transaction qualifies as a charitable deduction for those who itemize deductions.
  • Part of the annual payments is considered a tax-free return of capital, excluding it from gross income until you reach your life expectancy.
  • If you contribute appreciated securities, only a portion of the capital gain is reported and it’s payable over your life expectancy — not in one year.

To Learn More
Estate plans should be made with your financial advisor.  OETA Foundation will be happy to work with you and your professional advisor to discuss the benefits of the plans listed here and how they can work for you. Please contact us anytime: Louise Lee, OETA Foundation, 7403 North Kelley Avenue, Oklahoma City, OK 73111, (405) 848-8501, llee@oeta.tv.

CHARITABLE REMAINDER TRUST
Charitable Remainder Trusts, or CRTs, provide people with a way of making a very substantial future gift to OETA without depriving them of the income they may need during their lifetime.

How CRTs Work
You transfer assets (cash, stocks, bonds or real estate in most cases) to a trust. The trustee may sell the assets and reinvest the proceeds in a portfolio of stocks and bonds. You receive an income for life after which the trustee distributes the remaining assets to OETA and any other charities you have designated.

Types of CRTs
Charitable Remainder Annuity Trust (CRAT)
The CRAT pays the income beneficiary a specific dollar amount that does not change during the time the CRAT is in existence. The Annuity Trust can be the best choice when one wants a fixed dollar payout that will not change over the lifetime of the trust.

How an Annuity Trust Works
An annuity trust is usually funded with cash or publicly traded securities that have appreciated in value. It pays you, or someone you designate, income for life or for a term of years. The income is a fixed dollar amount that is set when the trust is established.

If the trust is to run for a term of years, it cannot exceed 20 years. If the trust is to run for the lifetime of an income beneficiary, that person will usually need to be approximately age 65 or older when the trust is created for it to quality as a charitable remainder trust.

This kind of charitable remainder trust is only funded once. No additional transfers of assets can be made to it (unlike the charitable remainder unitrust).

Add Up the Benefits

  • In the year you fund an annuity trust, you get a sizable income tax charitable deduction.
  • The annuity trust can sell appreciated stock without paying capital gain tax, and can reinvest for higher income or greater diversification.
  • The annuity trust may pay you more each year than were the assets used to fund it.
  • You enjoy the satisfaction of making a large future gift to OETA.

Charitable Remainder Unitrust (CRUT)

  • The CRUT pays the income beneficiary a variable income based on a percentage of the trust assets as valued each year.
  • Viewers who are concerned about their heirs receiving a large inheritance at too young an age sometimes find the charitable lead trust to be a useful estate planning strategy. It has the effect of making certain assets accomplish two objectives. First, the assets provide important funding for our programming. Then, they are passed along to heirs at a time when these family members are able to use the assets to best advantage.

You Decide When it all Begins
This trust provides funding for OETA either immediately, if you create it during your lifetime, or beginning at your death if you establish it as a testamentary trust. Either type of lead trust offers you a good way to carry out your philanthropic plans over the coming years and save on taxes. Plus, you keep ultimate control of the trust assets within the family.

The lead trust is an exceptional way to transfer property to your children or other heirs at minimal tax cost because a charitable gift/estate tax deduction is allowed for the value of the payments received by OETA.

You Decide Who Gets What..and When
The charitable lead trust has a couple of different versions. This allows you to structure the arrangement in a way that meets your specific objectives. You decide how much is paid to OETA, and for how long these payments are made. You also select the individuals who will be receiving the assets in the future, and when they will get them. If you are not sure about the ultimate destination of the trust assets at the time you create the lead trust, you can designate someone to make the decision for you when the time comes.

Tax Benefits
When you create a CRT, you are making an irrevocable commitment to a qualified nonprofit organization of a future gift. IRS allows you to deduct a portion of the amount transferred to the CRT as a charitable gift in the year the CRT is funded.

Another tax benefit is that when you fund a CRT with appreciated stocks, bonds, or real estate owned for more than one year, your lifetime income and your income tax deduction are based on the current fair market value of the assets. They are not reduced by the capital gains tax that would be due on the sale of these assets.

To Learn More
Estate plans should be made with your financial advisor.  OETA Foundation will be happy to work with you and your professional advisor to discuss the benefits of the plans listed here and how they can work for you. Please contact us anytime: Louise Lee, OETA Foundation, 7403 North Kelley Avenue, Oklahoma City, OK 73111, (405) 848-8501, llee@oeta.tv.

RETAINED LIFE ESTATE
Did you realize you can give OETA your residence and continue to enjoy its use for life? It’s true. You can give us your house or apartment and receive a charitable deduction for it, even though you continue living there. This is called a retained life estate.

Give Your Home But Enjoy Life Use
Let’s assume you like the tax advantages that a charitable gift of real estate would offer, but you want to continue living in your personal residence for your lifetime. You’d like to retain the right to rent your house or make improvements. You may also want a survivor (perhaps your spouse) to enjoy life occupancy. But ultimately, you’d like for OETA to be able to sell the property and use the proceeds to support the programs you enjoy. You can deed your home to us now, subject to all these rights, and still obtain valuable tax savings.

Consider the Tax Implications
A gift of your home, farm, vacation home, or condominium, even with stipulations about occupancy, results in an income tax charitable deduction. There may also be estate tax savings, as well. When you leave the home to your spouse through your will or some form of joint ownership, it’s generally not subject to federal estate tax. However, if you want anyone else to live in the home after your lifetime, you pay a substantial estate tax to leave the property to them.

The retained life estate provides you with a way to let someone other than your spouse have life occupancy of your home without the associated tax payments.

Personal Satisfaction Added To Tax Benefits
If you are considering leaving your residence to OETA, ask us about a retained life estate. Besides the income and estate tax advantages you would enjoy, you’ll have the personal satisfaction of creating a significant gift to OETA.

To Learn More
Estate plans should be made with your financial advisor.  OETA Foundation will be happy to work with you and your professional advisor to discuss the benefits of the plans listed here and how they can work for you. Please contact us anytime: Louise Lee, OETA Foundation, 7403 North Kelley Avenue, Oklahoma City, OK 73111, (405) 848-8501, llee@oeta.tv.

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