Why choose planned giving?
What happens when you choose to include a planned gift to the National Youth Science Academy in your estate planning?
You’ll leave a legacy that will touch countless lives all across the globe.
Every year, the brightest young minds are welcomed to the National Youth Science Academy, where they participate in our STEAM-focused programs, including the National Youth Science Camp, STEAM Adventure Day Camps, Monday Night Science, and more. These programs challenge, motivate, and encourage learners to reach their true potential in science, technology, engineering, arts, mathematics, and related professions.
When you make a planned gift to our organization, you’ll give program participants the opportunity to learn from world-class STEAM leaders. Recent examples include Gino – who started his own 3D printing business in Argentina, making prosthetics for a fraction of their normal cost. Another recent delegate, Veda, noted “I had the opportunity to immerse myself in so many different fields of science with some of the brightest minds. I stepped out of my comfort zone too many times to count, and each time learned something new about myself.”
For more information, please talk to an attorney about your options (we can recommend one if needed). Please also contact Ryan Haupt for more information about including the National Youth Science Academy in your estate plans.
General Information about Estate Planning
Your will is the most effective way to make sure that you can determine how, when, and to whom your assets will be distributed, name the executor of your estate, and create trusts for the benefit of your spouse, children, or others.
You should definitely review your will if there have been changes in your family, marital status, assets, health, or state of residence.
The best time to review your will is now. Waiting until you are ill and/or worried about the future may prevent you from making the best choices for your beneficiaries. Start by updating the list of assets and documents you used to draft your original will. Don’t overlook your retirement plan benefits and life insurance. Ask yourself if your will reflects the current needs of your beneficiaries.
Consult an attorney who specializes in estate planning who can advise you about revising your will. The cost of having an attorney guide you through the process is small if you consider possible future savings. If you do not know an attorney, your bank’s trust department can recommend one. Minor changes to your will may not require rewriting the document entirely. Many adjustments can be accomplished through a codicil or will supplement.
Gifts by will are an integral part of the American philanthropic tradition. Tax laws encourage giving through tax deductions and estate tax savings. You can continue to contribute meaningfully to organizations you have supported during your lifetime, such as the National Youth Science Academy, through charitable bequests that can be tailored to meet your specific personal and financial needs. When reviewing your will, also review your charitable bequests to assure that they continue to reflect your present intentions.
There are ways to support the National Youth Science Academy without changing your will or visiting a lawyer. One option is retirement account funds. By changing the beneficiary designation form available from your plan’s administrator, the remaining balance can be given to the National Youth Science Academy at the appropriate time. Your current use of funds will not be altered in any way. Also, life insurance proceeds can be directed to National Youth Science Academy by simply changing the beneficiary on a form available from your insurance company. If you transfer ownership of the policy to the National Youth Science Academy, an income-tax deduction is available and any future premiums are deductible as well. Finally, you can also name the National Youth Science Academy the “payable on death” recipient of your checking, stock, or savings account.