BE A PART OF THE COVE CENTER FOR GRIEVING CHILDREN’S FUTURE
When it comes to making a long-term impact on the lives of grieving children in CT, there are many giving options to choose from besides simply writing a check.
Two of the simplest options to set up are
Bequests and Beneficiary Designations.
BEQUESTS
If you are interested in helping The Cove continue our mission to provide FREE services to grieving children and teens in Connecticut, the simplest, most flexible and most versatile way to ensure we can continue our work for years to come is a gift in your will or living trust, known as a charitable bequest.
By including a bequest to The Cove in your will or living trust, you are ensuring that we can continue our mission for years to come.
To include The Cove in your will or living trust, download our PDF of Sample Bequest Language
You can then provide this language to your attorney for inclusion in your will or living trust.
THERE ARE NUMEROUS OPTIONS WHEN IT COMES TO BEQUESTS:
● General Bequests are legacies left to certain people or causes that come from the general value of the estate, and are made by designating a specific dollar amount, a particular asset or a fixed percentage of your estate to the cause of your choice.
● Specific Bequests are made when a particular item or property is bequeathed for a designated purpose. For instance, you could designate your bequest to general support; support family programs; Camp Compassion at The Cove.
● Residuary Bequests are made when you intend to leave the residue portion of your assets after other terms of the will have been satisfied. (Residuary bequests can be general or specific.)
● Contingency Bequests allow you to leave a portion of your estate to a particular charity if your named beneficiary does not survive you. (Contingency bequests can be general or specific.)
Document Your Wishes:
Download our The Cove's Planned Gift Letter of Intent so that we will know about your generous gift and can make sure your wishes are recorded.
BENEFICIARY DESIGNATIONS
If you are passionate about supporting The Cove with our mission even after your lifetime, making us the beneficiary of some of your assets is an easy method to support The Cove. Just name The Cove as a beneficiary to receive assets such as retirement plans and life insurance policies after you’re gone.
You simply fill out a form that is entirely separate from your will, which makes this approach an easy way to give.
UPDATING YOUR BENEFICIARY DESIGNATIONS: A QUICK AND EASY WAY TO HELP
Not only are beneficiary designations an easy way to give, but they are also flexible, you aren’t locked into the choices you make today. You can review and adjust beneficiary designations anytime you want.
You can make The Cove a sole or partial beneficiary of a retirement account or an insurance policy.
BENEFICIARY DESIGNATION CHECKLIST
● Defined Contribution Plans: For instance, 401(k)s, 403(b)s, 457s, Simplified Employee Pension, etc.
● Defined Benefit Plans: Such as pension plans
● Individual Retirement Accounts: IRAs
● Life insurance plans: all types
● Accidental death and dismemberment insurance
You can choose to make The Cove the sole beneficiary, the beneficiary of a specific percentage, or the contingent beneficiary after a spouse or other loved one. The funds realized from this legacy gift can be given as unrestricted or restricted for a specific purpose (such as general support; support family programs; Camp Compassion at The Cove).
You can also stipulate that the funds be held in our endowment and the proceeds off of that investment be used for your chosen purpose. This means your legacy will last in perpetuity.
NEXT STEPS
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Contact our team via email at info@covect.org or call 203-634-0500 for additional information on bequests or beneficiary designations and how they can help support The Cove with our mission.
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If you have already named The Cove in your plans, please contact us so that your wishes for your gift may be documented. We want to make sure that your legacy to The Cove is handled just as you desire.
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Document Your Wishes, download our Planned Gift Letter of Intent so that we will know about your generous gift and can make sure your wishes are recorded.
Note: By furnishing this information, The Cove Center for Grieving Children does not intend to give legal or tax advice. Please consult an attorney and tax advisor.