A charitable bequest—a gift in your will—is either a percentage of your estate or a stated dollar amount designated to The First Tee of Greater Pasadena. Many people discover that a bequest is a satisfying way for their legacy to impact future generations to come.
The First Tee of Greater Pasadena will accept a charitable bequest in a will or testamentary trust. In addition to the traditional bequest designations, you may prefer to gift a percentage of the “residue” or what remains after paying all inheritances, debts and costs. Finally, there are special arrangements that allow you to make a gift that can provide income to your family and later be used by The First Tee of Greater Pasadena to continue to make a difference in the lives of young people.
Beneficiary designations are an opportunity for individuals to name The First Tee of Greater Pasadena as the beneficiary of funds from an irrevocable trust, life insurance policy, 401K or other retirement plan.
Charitable Remainder Trusts
A Charitable Remainder Trust is a legal instrument into which you transfer irrevocably the ownership of assets such as securities or real estate. In return, you receive an immediate charitable income tax deduction and the right to receive an income. The income payments may be made to you (and/or one or more loved ones) for life, or a limited number of years.
When the trust ends, the property remaining in the trust (the charitable remainder) passes to The First Tee of Greater Pasadena to be used to benefit the next generation of young people. The First Tee of Greater Pasadena will accept designation as a remainder beneficiary of a Charitable Remainder Trust. The First Tee of Greater Pasadena is not in a position to serve as Trustee.
Charitable Lead Trusts
A Charitable Lead Trust is a legal instrument into which you transfer irrevocably the ownership of cash or other assets such as securities. The First Tee of Greater Pasadena will receive income payments and you will receive a charitable income tax deduction for the amount of this gift. After a fixed term of years, the trust assets are paid to the donor or donor’s beneficiaries.
The First Tee of Greater Pasadena will accept designation as an income beneficiary of Charitable Lead Trusts. The First Tee of Greater Pasadena is not in a position to serve as Trustee.
Planned gifts of any size are a lasting way to help our young people. Life Skills FORE Pasadena Youth, Inc., dba: The First Tee of Greater Pasadena is a nonprofit corporation, 501(c)3, tax ID 25-1924033.