One way contributors lend financial support to the Society’s work is to include ASIL in their estate plans. Such donations are among the most meaningful to make and to receive. Not only do they provide important support for ASIL education programs, but they also can offer considerable tax advantages to the donor and can be surprisingly easy to set up.
To help donors with such gift planning, in 2004 the Society created the ASIL Heritage Circle. Its mission is to
provide planned and dedicated giving opportunities to ASIL supporters,
honor members who have included commitments to ASIL in their estate plans, and
provide gift planning information to ASIL supporters.
ASIL Heritage Circle contributions are used for the general support of Society programs or, in certain instances, may be restricted by the donor for pre-existing programs or for the ASIL Endowment for International Law. If contributions are not restricted by the donor, they will be used where needed most, as determined by the Executive Council of the Society.
ASIL members and other supporters may join the Heritage Circle simply by notifying the Society in writing that they have included the organization in their estate plans. They may indicate this through a separate letter or by using a notification card provided by the Society. People may join anonymously or add their names to the growing list of colleagues who have made a planned gift to the Society. It is not necessary to disclose the type or value of the gift made through one’s estate plan. Those individuals listed on the right-hand side of this page have notified ASIL of their planned gifts.
Given the opportunity, most people would like to leave a legacy and advance the missions they support during their lives. Gift planning is a process of considering what and when to give, as well as how to structure charitable gifts to meet personal financial goals. Through gift planning, it is possible to 1) make gifts to the Society larger than one can afford through immediate outright contributions, 2) retain control and use of those assets one plans to donate later, 3) receive lifetime income for oneself and ones’s family, or 4) reduce income taxes, gift taxes, and/or estate taxes.
The most common planned gift is a charitable bequest in one’s will. Others include charitable remainder trusts, charitable lead trusts, and revocable trusts. In addition, and of increasing popularity, is designating ASIL as a beneficiary in a life insurance policy or retirement plan owing to the ease with which it can be achieved (by simply notifying the plan administrator through a change in beneficiary form). There are other such gifts as well.
ASIL’s Development Office can provide information about the different types of bequests as well as sample language to use in a will. It also can work with donors to determine the most suitable gift instrument for their circumstances and purposes.
To view the ASIL Heritage Circle Brochure, click here.
For further information, contact ASIL Development at email@example.com or +1-202-939-6003.