What will your legacy be? If you are like many book enthusiasts, the library has played an important role in your life as well as your children's. Perhaps Placentia Library District was where you took your children or grandchildren to listen to storytime. Perhaps you learned how to download an ebook on your tablet to enjoy on a trip. Or perhaps you discovered a family member you did not know exist through your genealogy research at the library. In ways both large and small, Placentia Library District has probably affected you. It is almost impossible to put a dollar figure on what your experiences are worth. By making a bequest, you can acknowledge in a meaningful way and make a lasting difference for the library and for your own personal legacy.
What is a Bequest
The term "bequest" usually refers to a statement in your written will of your wishes to provide charitable funding to an organization or cause after your death. It is also common to provide charitable designation through retirement plans or IRAs, life insurance policies, revocable and irrevocable trusts, and government savings bonds.
Why Do I Need a Will?
You need a will if you want to control how your assets will be used and distributed after your death. Without a will, states distribute your assets according to their own laws, often with unexpected consequences. Distribution of your estate according to state intestacy laws puts your assets beyond your heirs' control, regardless of your preferences. A properly drafted will can be especially important to determine guardianship for children, ensure fast and safe distribution or sale of assets, and manage or reduce estate taxes and expenses.
When is it Important to Re-Examine My Will?
You should bring your will up to date if:
Your family family or interest change (e.g., children become self-supporting or relatives die).
You relocate to another state
Grandchildren are born
Philanthropic priorities shift
Divorce and remarriage occur
You will also want to work with an attorney or advisor to ensure that your will reflects tax law changes.
Why Should I Consider Making a Bequest
It allows you to:
Stay flexible in the lifetime use of your assets and income.
Express your support for Placentia Library District without affecting your family's current financial objectives.
Determine the amount of your gift and how it will be used at the Placentia Library District.
Benefit from possible tax savings for your estate and heirs.
Give to library fund-raising campaigns without committing cash upfront.
Immediately share in the good feeling that comes from supporting the Library's future.
Plus, it's easy!
Finally, bequest are revocable. We understand that your circumstances may change. You can change your mind or designation at any time.
How Do I Get Started?
You only need to make one phone call to one person. We'll do the rest to get you started. Whatever your interest, we'll assist you in finding the right fit for your philanthropy.
Call the Administration Office at (714) 528-1906, ext. 200
What happens next?
Develop language for your will.
Notify the Office of Trusts, Estates, and Gift Planning about your intentions.
Provide the Office of Trusts, Estates, and Gift Planning with written documentation or designate Placentia Libarary Friends Foundation as a beneficiary.
Complete the Letter of Agreement if needed.
How to Notify Placentia Library Friends Foundation of Your Bequest To formalize your bequest, we simply need your written estimate of the current value of the portion of your estate destined for Placentia Library Friends Foundation. To notify Placentia Library Friends Foundation of your bequest: