Frequently Asked Questions
about Planned Giving at POST
How should I refer to POST in my estate plans?
POST should be designated as:
Peninsula Open Space Trust, a California non-profit benefit corporation, with
Business Address of 222 High Street, Palo Alto, CA 94301
What is POST's taxpayer identification number?
94-2392007.
Does POST need to know my bequest intentions?
We recognize that you may wish to keep your bequest intentions confidential. However, we greatly appreciate knowing when POST has been included in an individual’s estate plan. This helps with our planning and enables us to express our gratitude for this long-term commitment to our mission.
We recognize donors who include POST in their estate plans through membership in our Open Space Legacy Society. Members of this special group receive invitations to events and outings, and are listed in the annual report edition of our newsletter Landscapes.
Do I need to retain legal or financial counsel to establish a planned gift with POST?
POST can provide information for your attorney or financial advisor regarding estate gifts to POST. It is strongly recommend that you involve your personal legal or financial advisor in the process.
Can I designate how my bequest will be used?
We suggest you specify that your bequest be “used in such a manner as the Board of Directors of the Peninsula Open Space Trust shall, in its discretion, determine.” If you prefer to restrict your bequest to a particular program, POST is pleased to work with you to ensure that your wishes will be met.
What are the tax benefits of bequests and life income gifts?
Contributions to POST, as to other charitable organizations, are not subject to gift or estate taxes. With life income gifts such as charitable remainder trusts, an income tax deduction can be taken for the current value of the “remainder interest” of the donation. Appreciated assets transferred to a charitable remainder trust also do not incur capital gains taxes when the assets are sold.
What are the advantages of making a bequest to POST?
For many people, a bequest offers the opportunity to make a more substantial gift than would be possible during one’s lifetime. For those with retirement accounts, real estate, or other assets that have appreciated over time, it may not be possible or advisable to use these assets to make an outright contribution. These assets can be designated instead to a planned gift to maximize tax and other financial benefits.
If you have other questions, please contact Adelaide Roberts, Director of Planned Giving, at (650) 854-7696 or aroberts@openspacetrust.org.