Estate Planning

You can designate your estate plan gift to a specific unit or project in Auroville, or you can leave it to AVI USA to determine the best use of funds, depending on the needs in Auroville at the time of the gift.

This giving opportunity, which allows for the flexible meeting of both Auroville’s current and future needs at the time the gift is received, is available by designating “Auroville International USA” in your will or trust or through beneficiary designations, as described in more detail below.

Legacy Fundraisers

Read About Bryan Walton’s Legacy Fundraiser. Bryan left us a letter with complete instructions for a Legacy Fundraiser for Malarchi Boarding School. Read More

You can make a gift (bequest) through your will or living trust in the following ways:

• After specific gifts to loved ones have been made, you may designate that the entire residue (remainder) or a percentage of the residue shall go to the AVI USA. With this approach, your gift adjusts with changes in the size of your estate.
  
• A gift of a specific amount – You specify a dollar amount to be given. With this kind of gift, it is especially important to keep your will or trust up-to-date.
  
• If you wish to restrict use of the funds to a project or other purpose, please Contact Us to ensure that your designation is stated in a way to ensure that we can meet your wishes.

Here is a sample bequest language suggestion for your attorney:

I give [the residue of my estate] [_____% of the residue of my estate] [$______________] to Auroville International USA, a nonprofit educational corporation, for its general uses and purpose.

Retirement Plans and Other Beneficiary Designations

There are many ways to leave a legacy gift to Auroville simply by filling out a form to make beneficiary designations outside your will or trust. This can be done without changing any existing will or trust, but should be coordinated with any existing legal document.

Using retirement plan assets results in a very tax-advantaged charitable gift. This is so because if left to individuals (other than a spouse), such assets will subject your heirs to income taxes. It is more tax-advantaged to leave other types of assets to your heirs and gift the more heavily-taxed retirement plan assets to a tax-exempt organization such as AVI USA.

In addition to retirement plan assets, almost any financial arrangement that allows you to name a beneficiary can be repurposed to benefit Auroville with all or part of its remaining value.


Beneficiary Form Designation Language

Estate Plan Gifts for AVI USA or Auroville should be designated to Auroville International USA, tax ID number 23-7360183.

Financial Assets You May Designate

Here is more information about ways to designate us as a beneficiary of specific financial assets you may hold:

IRAs, 401(k) plans, 403(b) plans or other retirement savings arrangements – As stated above, retirement plan assets can be the most tax-advantaged assets to leave to charity.

How: Simply check on your custodian or trustee’s website for an on-line form, or ask the custodian or trustee for a change of beneficiary form. Use the designation wording provided above. Note: Married individuals may need the written consent of their spouses to make some gifts from retirement accounts. Check with your account manager.

Bank Accounts at banks, savings and loan associations, and credit unions – Those who have financial accounts at banks, savings and loan associations and credit unions generally may direct that their account balances (checking, savings, share accounts, certificates of deposit) be paid on death (“POD”) to AVI USA. The designation can be revoked any time prior to death and in no way affects the depositor’s control over the funds in the account.

How: Ask the manager of your account for details and the appropriate form. Use the designation wording provided above.

Brokerage Accounts for stock, bond and mutual fund holdings – If you own stocks, bonds or mutual fund shares in brokerage accounts, you may name AVI USA as a “TOD” (transfer on death) beneficiary.

How: Check with your broker for details and the appropriate form. Use the designation wording provided above.