Ways to Create Your Legacy

A Gift in Your Will or Living Trust

A gift in your will or living trust is a deeply personal gift – and a flexible one. You can take care of loved ones first, and you can update your plans or change your mind at any time.

.There are several ways to include a gift to Oxfam America in your will or living trust:

  • You can leave a percentage of your estate. A bequest stated as a percentage will automatically adjust regardless of future circumstances. For example: “I leave 10% of my estate to Oxfam America.”
  • You can leave a defined amount or asset: For example, “I leave $50,000 to Oxfam America.” Your estate doesn’t have to have cash or securities to cover the gift amount, as long as the value of all of your assets is sufficient.
  • You can also make a contingent – or backup – bequest that only takes effect if other beneficiaries are not able to receive their gifts. Your attorney can assist you in drafting the right language.

Use the Right Words

Your attorney can assist you in drafting the right language to make your gift. They may refer to this example language:

I give to Oxfam America, 77 North Washington Street, Suite 500, Boston, MA 02114 Federal Tax ID number 23-7069110, as amended, [all (or ____ percent) of my residuary estate] or [the sum of $_______ ] to be used for its general purposes.

Please be sure to use our legal designation when making any legacy gift:

Our legal name: Oxfam America Inc.

Our tax ID: 23-7069110

A Gift by Beneficiary Designation

You can name Oxfam America as a beneficiary of your retirement accounts, life insurance policies, bank or brokerage accounts, or other financial accounts. These “legacy gifts without a will” bypass probate and can easily be updated at any time.

These gifts:

  • Are easy and take just a few minutes to complete—it’s as simple as signing a form or logging onto your account online.
  • Are flexible—you can update your beneficiaries any time, so you aren’t locked into a decision you make today if your circumstances change.
  • Cost you nothing now—you don’t need a lawyer or financial advisor, and you retain full control of your assets for as long as you need them.
  • Allow you to take care of your family and loved ones first — name them as the primary beneficiary(ies) first before including the causes that matter to you. Making Oxfam America a contingent beneficiary puts us next in line to receive the funds, after family.

How it Works:

  • You name Oxfam America as the beneficiary or all or some percentage of a qualifying retirement plan, life insurance policy, or other financial account through a beneficiary designation form.
  • Decide what percentage (1 to 100) you would like Oxfam America to receive and name us, along with the percentage you chose, on the beneficiary form. Return the completed form to your financial institution.
  • After your lifetime, the funds pass to Oxfam America, tax-free.
  • You can change or update your beneficiary designations at any time if your needs or goals change.
  • You can also name Oxfam America a contingent beneficiary, so that we only receive a gift if primary beneficiaries are not able to receive the assets.

Important Information:

  • Please be sure to use our legal designation when making any legacy gift: Our legal name: Oxfam America Inc. Our tax ID: 23-7069110
  • If the form requires a date of birth, please use Oxfam America’s date of incorporation: August 5, 1974.
  • Please send us a copy of your beneficiary form, or as much information as you are comfortable sharing. Many financial services firms will not notify us of your gift and we will need this information to ensure your wishes are carried out.

Make an Immediate Gift from your IRA:

If you are age 70.5 or older, you can make an immediate gift to Oxfam America with a qualified charitable distribution (QCD) from your IRA. Learn more.

Donor-Advised Fund Succession Plans:

If you have a donor-advised fund, you most likely created an initial succession plan when you opened your account. A succession plan directs your DAF sponsor on how to distribute assets remaining in your charitable giving fund after your lifetime.

It’s a good idea to review your succession plan and update to reflect your current and long-term philanthropic goals. To update your succession plan to include Oxfam America, you have several options that are generally defined by your DAF sponsor but usually include:

  • Distributing all funds remaining directly to Oxfam America and/or other charities.
  • Naming a successor trustee to continue granting – although they may not continue to support the same organizations you have.
  • Creating an endowed DAF, naming several charities to receive ongoing annual distributions for 5 years or more.
  • You may also combine options.

Our gift planning team is available to discuss your succession plan and opportunities to make an impact now and in the future.

Important Information:

  • Please be sure to use our legal designation when making any legacy gift: Our legal name: Oxfam America Inc. Our tax ID: 23-7069110.
  • If the form requires a date of birth, please use Oxfam America’s date of incorporation: August 7, 1974.

Charitable Gift Annuities and Other Life Income Gifts

Many Oxfam supporters are looking for ways to deepen their commitment and impact. Establish a charitable gift annuity with Oxfam and you will receive annual income for as long as you live, significant tax benefits, and the joy of making a truly remarkable gift to help ensure a world where no one lives in poverty.

How Do Charitable Gift Annuities Work?

  • You donate cash or securities worth $25,000 (our suggested minimum gift) or more to Oxfam America and receive payments for life in return. Your gift will be used to support Oxfam’s work to end poverty and injustice.
  • Your payment rate is based on your age, and will never change, no matter how long you live or how the market fluctuates. You must be age 65 or older to receive payments.
  • Make your gift by December 31 and you may be able to reduce your current year tax burden.

More Ways You Benefit

  • Gift annuities can benefit up to two people, making them an ideal way to provide financial security for a spouse or other loved one.
  • Avoid capital gains taxes when you use appreciated stock to fund your gift annuity.
  • If you don’t need the income immediately, you can schedule payments to begin at least one year after your donation. The longer the deferral period, the higher your payment rate.

And now, you can fund your gift using your IRA assets. If you are 70½ and older, you can make a one-time election of up to $54,000 to fund a gift annuity. While your gift does not qualify for an income tax deduction, you’ll avoid income taxes on the transfer.

There are other kinds of life income gifts, including a charitable remainder trust, that offer the opportunity to fund your donation with real estate or other complex assets. Our gift planning experts can help you explore your options and identify the gift that meets your goals.

For a no-obligation, personalized example of your payment rate, annual payment, and tax savings with a charitable gift annuity, please contact:

Tim Rogers
Planned Giving Officer
(617) 371-2723 or [email protected]

The Legacy Circle

The Legacy Circle recognizes and honors those who have thoughtfully provided for Oxfam through their estate and financial plans. There are no fees or dues associated with membership in the Legacy Circle. As a member you will enjoy the following:

  • An invitation to an insider teleconference briefing with Oxfam America’s president.
  • Oxfam CloseUp (our twice-yearly member magazine).
  • Recognition in our Legacy Circle honor roll.