Legacy Giving

Leave a legacy of giving

Your legacy gift helps us protect and expand our life-affirming programs to current and future generations of vulnerable seniors. There are many ways you can help us provide for the needs of the aging by designating part of your estate to On Lok, including wills and living trusts and retirement plan assets.

When planning your legacy gift, we recommend consulting with your attorney and financial advisor, as pertinent laws and regulations continue to evolve. They can help you understand the implications and benefits of each option, minimize taxes, and adjust your plans over time or as your circumstances change.

Wills and living trusts

Designating part of your estate through a charitable bequest in your will or trust creates a legacy of transformative change that your family and future generations can cherish. Your attorney can guide you through the creation of your estate planning documents.

To learn more about creating a legacy of giving, contact Jessica Chang Greenman, Gift Officer, at 628-208-8449 or jchang-greenman@onlok.org.

Retirement plan assets

Retirement plans are among the most heavily taxed assets in an estate. Consider designating On Lok as a beneficiary for all or a percentage of your retirement plan to alleviate the tax burden on the assets you leave your loved ones. You can do so in different ways:

  • Retirement plan beneficiary

    Update your beneficiary designation form through your plan administrator to designate On Lok as a beneficiary by a percentage or specific amount. You can also make On Lok the contingent beneficiary, donating the balance of your plan only if your primary beneficiary does not survive you. 

  • IRA charitable rollover

    To make an immediate impact now and receive a tax break, if you are 70½ years old or older, you may be able to donate up to $100,000 from your IRA directly to a qualified charity such as On Lok and receive a tax benefit.

  • Charitable remainder trust

    When you fund a charitable remainder trust using your retirement plan assets, the trust will receive the proceeds of your plan upon your death. The trust typically pays income to one or more beneficiaries for life or for a set term of up to 20 years, after which the remaining assets would go to support On Lok. This gift provides income for your loved ones, while helping seniors lead fulfilling lives in their communities.

On Lok cannot provide financial advice. Please consult your estate planning attorney, accountant, and tax advisor before making a planned gift.

Gifts of securities can provide unique tax advantages. To learn more, please contact Zack Macdonald, Director of Development, at zmacdonald@onlok.org.

Learn how your gift impacts the lives of community seniors.