Naming Colorado Ballet in your will or living trust, otherwise known as making a bequest, will ensure the wonder of dance reaches generations to come. By designating percentages of your estate, you can provide for both the people and the causes you love. The impact of your gift will live on!

Next Steps
Including Colorado Ballet in your will requires adding a few sentences to your estate documents. In many cases this will involve contacting your attorney and requesting the following language is inserted:

"I give, devise, and bequeath, to Colorado Ballet (EIN 84-6038137) a Colorado nonprofit corporation, currently located at 1075 Santa Fe Drive, Denver, CO 80204, (insert dollar amount, percentage of estate or exact description of property to be devised) for its unrestricted charitable use and purpose."

Retirement plan funds have yet to be taxed. If those funds are left to an individual, they will likely need to pay considerable taxes on the inheritance. Naming a charity like Colorado Ballet as partial or full beneficiary allows your heirs to be less severely impacted by taxes. It is also free to add or change beneficiaries.

Next Steps
Contact your plan administrator and instruct them to include Colorado Ballet (tax id 84-6038137) as a beneficiary. In many cases you can also log into your online account and complete the beneficiary designation on your own.

Do you have a paid-up life insurance policy that is no longer needed for family protection? You can name Colorado Ballet as a beneficiary and minimize tax obligations for your heirs. You can also donate the entire policy while you are living and possibly receive immediate tax benefits.

Next Steps
To include Colorado Ballet as a beneficiary, contact your policy administrator and provide the percentage of the payout you wish to donate. This should take no more than a phone call and/or a simple form.

To donate your entire policy, contact your policy administrator and ask to initiate a policy ownership transfer. This process can take time but the benefits to you and the charity may be significant. It is suggested that you start early in the year in which you intend to realize the tax benefit. It is also essential that you contact Colorado Ballet in advance of the donation to ensure we can accept the policy.

Donation of bank and brokerage accounts are great ways to minimize the tax burden to your heirs while benefiting Colorado Ballet. Additionally, naming a charity as a beneficiary may allow the funds to avoid the probate process and decrease the time it takes for the charity to receive the funds.

Next Steps
Not all banks and brokerages allow beneficiary designations. In cases where it is allowed, the process usually involves a very simple form that specifies the people and entities you wish to name as beneficiaries. In some cases, you can complete the form via your online account.

Donor advised funds are an excellent way to maximize support for the causes you love. They lower your tax obligation during your lifetime but what happens to your DAF when you pass? By naming Colorado Ballet as well as your heirs as beneficiaries of your donor advised fund you will advance our mission while also encouraging your family to extend your legacy of giving into the future. 

Next Steps
Contact your DAF administrator and ask for beneficiary instructions. Most often this will involve a simple form that can be completed in minutes.