Types of charitable bequests are listed as follows, along with sample language to aid you and your attorney in drawing up a bequest to the Ayn Rand Institute. ARI’s federal tax identification number is 22-2570926.
Percentage: a gift of a percentage of your estate
Example: “I give and bequeath 50 percent of my estate to the Ayn Rand Institute, located at 2121 Alton Parkway, Suite 250, Irvine, California 92606, to be used for its general purposes.”
Outright: a gift of a specified amount of cash
Example: “I give and bequeath $25,000 to the Ayn Rand Institute, located. . . .”
Specific: a gift of a specific asset
Example: “I give and bequeath 1,000 shares of XYZ stock to the Ayn Rand Institute, located....”
Residuary: a gift of all or a portion of the residual estate, i.e., the property remaining after other bequests have been honored
Example: “All the rest, residue, and remainder of my estate I give and bequeath as follows: half to my son, John, and half to the Ayn Rand Institute, located. . . .”
Contingent: a bequest which is contingent on other factors
Example: “I give and bequeath $10,000 to my cousin Jane, but if Jane predeceases me, I give and bequeath that amount to the Ayn Rand Institute, located. . . .”
Other beneficiary designations: Donors may also designate ARI as a beneficiary of life insurance proceeds, retirement plan funds, bank and brokerage accounts, and other financial assets. Please contact us if you have any questions about such bequests, or about filling out the beneficiary forms.
To successful bidders at ARI auctions: If, as a result of successful bids at any of the Institute’s auctions of Ayn Rand’s manuscripts, memorabilia, and related material, you own one or more items of interest to future scholars and historians, we respectfully request that you consider bequeathing them to the Ayn Rand Archives, a special collection of the Ayn Rand Institute.
Back to Bequests
Tax-Free IRA Gifts to ARI Possible Once Again
Are you age 70.5 or older, or will you turn 70.5 before the end of 2013? Do you have an Individual Retirement Account? If your answer to both questions is “Yes,” you may be able to save taxes by making a tax- free transfer from your IRA to ARI.
Read more . . .
Is Roth IRA Conversion Right for Me?
Read more . . .
Allan Stanley Gotthelf
John David Lewis