Residual Bequest

This is a popular choice for charitable bequests because it ensures that loved ones receive their distribution before any distribution to charity.

“I devise the residue of my estate, after the satisfaction of all specific bequests and the payment of all taxes and other costs attending my death, to The Chrysalis Center, a not-for profit corporation, Tax ID# 95-3972624, with principal offices currently located at 522 S. Main St., Los Angeles, CA 90013.”

General/Fixed Dollar Bequest

A stated sum of money, usually cash, to a beneficiary.

“I bequeath the sum of $____ dollars to The Chrysalis Center., a not-for-profit corporation, Tax ID# 95-3972624, with principal offices currently located at 522 S. Main St., Los Angeles, CA 90013.”

Percentage Bequest

Enables your bequests to grow as your assets grow.

“I bequeath to The Chrysalis Center, a not-for-profit corporation, Tax ID# 95-3972624, with principal offices currently located at 522 S. Main St., Los Angeles, CA 90013 an amount equal to ______ percent of the net value of my estate as finally determined for federal estate tax purposes.”

Contingent Bequest

This type of bequest assumes you want to leave your entire estate to family and friends. However, in the event that you outlive any of your beneficiaries, it provides an opportunity to designate Chrysalis to receive that portion of the estate.

“In the event that (name of the beneficiary) does not survive me, I designate The Chrysalis Center, a not-for-profit corporation, Tax ID# 95-3972624, with principal offices currently located at 522 S. Main St., Los Angeles, CA 90013 as the devisee of this bequest of (see above for language specific to different types of bequests.)”

Bank Accounts

Directly impact lives by designating Chrysalis as a beneficiary of your bank accounts. Easily arrange this by instructing your bank and completing the provided beneficiary designation form. You may even be able to complete the form through your account(s) online!

Retirement Assets

Streamline your legacy planning by designating Chrysalis as a beneficiary of your retirement assets, such as IRA or 401(k). No need to modify your will or living trust—simply request and complete a new beneficiary designation form from your plan administrator.

Tax-Wise Considerations: A gift of retirement assets not only simplifies the process but is also tax-wise. Unlike other assets subject to income tax upon distribution, leaving retirement assets to Chrysalis ensures 100% of the funds benefit its charitable purposes, avoiding potential tax challenges for designated beneficiaries.

Life Insurance

Extend your support through life insurance by designating Chrysalis as a recipient. Contact your insurance company to ask how to allocate a portion of all of the death benefit to Chrysalis.

Commercial Annuity Contracts

Optimize the remaining value of commercial annuities by designating Chrysalis as a beneficiary. Simply complete the appropriate form provided by the insurance company to allocate all or part of the remaining amount.

Investment Accounts

Leave a lasting impact by instructing your investment company to transfer holdings to Chrysalis upon your passing. Consult your broker or agent for the straightforward process, which may involve adding “T.O.D. to The Chrysalis Center” after your name on the account.