Name the Friends of the Library as your beneficiary or in your will or codicil
These programs and activities include:
How you can help
You do not have to write a new will or trust document. You can add the Friends as one of your beneficiaries through a codicil or trust amendment. Most bequests to the Friends are not subject to federal estate tax. Remember the Friends are a charitable nonprofit organization exempt from federal taxation. It is not a branch or agency of any government.
Life Insurance, IRA or Retirement Plan
Sample Language for a Planned Gift to the Friends
“I give XX dollars to the Friends of the Library of Collier County, Inc.”
“I give XX percent of my estate (or, the residue of my estate) to the Friends of the Library of Collier County, Inc.”
To designate the Friends under a retirement or 401(k) plan, contact the plan administrator identified in the plan’s summary plan description provided to you. Request a free copy if you no longer have it. For an IRA of any kind, contact your IRA custodian (bank, insurance company, mutual fund) and contact the insurance company regarding any life insurance policy. Each of these entities will have a method of properly selecting or changing a beneficiary under them and usually have a short form to do this.