MAKING PROVISIONS FOR YOUR HORSE
IS YOUR HORSE'S FUTURE SECURE?
HHT has been involved with the rescue
of equine that were left homeless after their guardian had become ill,
or passed away ... and no plans or concerns had been given to the future
care of them.
Regardless of your health or age,
appoint a trusted friend or relative to be responsible for your wishes
regarding your equine. Whatever your wishes, it should be in writing
with copies given to a family member, your veterinarian, a neighbor,
your lawyer. Also if permanent provisions have been made, that should be
spelled out in the instructions. It is always important to keep
updating this information.
Many people, with no family or friends to turn to, can rely on Horse
Haven of Tennessee for assistance. We can offer peace of mind knowing
that your equine friend will not end up in the wrong hands.
If you decide to make provisions in your Will/Bequest, the following is
the wording which should be included:
"I leave Horse Haven of Tennessee, Inc. $(money, real estate, life
insurance, stocks, annuity, etc.). I also leave _________ horses,
_________ donkeys, for Horse Haven of Tennessee, Inc. to be placed into
their adoption program.
It is critical that the above
sentences be separate and distinct. Once you have made that decision, it
is important that you notify HHT in advance of your wishes and provide a
copy of the specific page from your Will stating your intentions. We
will then send you wallet cards and decals for your home in the event of
an emergency or your incapacitation. We will send you health history
forms for each equine requesting their name, age, diet, health problems,
and general information and the name of your veterinarian.
We will also include in the packet a special emergency telephone number
that is manned 24 hours a day. These steps will enable us to provide the
best care possible for your equine and make their transition as
The AARP (American Association of Retired People) has life insurance now
available to members by mail. No agent will call and you can compare the
cost of one policy versus another. This may be superior to an insurance
salesman who may want to sell you other financial products you may not
want or need. Those people with modest resources and little financial
sophistication can be vulnerable to high pressure selling. Contact an
attorney who will listen to your wishes and be guided by them. Loosely
worded or ambiguous wording in a Will creates a host of costly problems
to the Estate and to your pet.
IF YOU BECOME ILL OR INCAPACITATED, PLEASE NOTIFY US SO THAT
YOUR ANIMAL CAN BE ACCEPTED BY US!
MAKING PROVISIONS TO HELP ALL ANIMALS
LONG AFTER YOU ARE GONE
Horse Haven of Tennessee, Inc. is
deeply committed to all aspects of equine care and welfare.
Unfortunately, due to our large budgetary requirements, we must rely on
the generosity of others. Each year, our job becomes progressively wider
in scope and increasingly more difficult. We face many challenges on a
daily basis and need all of the resources possible to continue this
If you are reading this, then you are clearly concerned about where your
funds should be allocated after your demise.
Writing your own Will can leave
loopholes which may lead to legal problems in the future with attorneys,
relatives, friends and can be quite costly to HHT and the animals.
A bequest in your Last Will and Testament will ensure that the funds
allocated to HHT will be used to support our efforts and aims. Such a
bequest may consist of a designated amount of money, a gift of
securities, real estate, etc. HHT's Tax Identification Number is
An outdated Will also presents sadness and expensive legal action. If
there is a death of someone mentioned in your Will .... or a divorce,
re-marriage, birth, etc., it is advisable to draw up a new Will. The
best way to change a Will is to add a Codicil which is a legal document
made up by an attorney that describes any changes you wish to make. The
things you wish to change are then deleted from your original Will and
the Codicil is inserted.
Keep a copy of your Will in your home in a safety deposit box, one to be
kept by your lawyer, & if you send one to the Society, it is kept
There are many ways to lend your
financial support some with significant savings in estate taxes and
capital gains taxes, an attractive income for life .... income for your
loved ones and the knowledge that you are making sound valuable
investments in the programs, efforts and aims provided by Horse Haven of
Tennessee, Inc. to help equine.
In the absence of a Will, the laws of our state will determine how your
assets are distributed.
in mind that once you apply for Medicaid, the government will oversee
your finances. If you wish to help animals, make donations while you
are still in control of your own finances, and later you'll be happy
that you were able to provide for animals.
A SPECIFIC AMOUNT:
I give, devise and bequeath to Horse Haven of
Tennessee, Inc. with offices at 6911 Sevierville Pike, Knoxville, Tennessee
the sum of $______ to be used to further their efforts in the care of
A PERCENTAGE BEQUEST:
You can designate which percentage (up to 100%) of
your estate to Horse Haven of Tennessee, Inc. As the value of your
estate grows, your bequest will grow.
A ""REST AND RESIDUE"" BEQUEST
In many Wills which are itemized, there are
leftover funds or items which, after distribution, are considered
""residue"" . You can name Horse Haven of Tennessee, Inc. for the ""rest
and residue"" and therefore, the government has no decision making in
FINAL CONTINGENCY BEQUEST
Many Wills are made up, left in a box, and at the
time of probate, all of the heirs are gone. That would make the Will
invalid at probate if you do not name beneficiaries that survive you. In
that case, the courts decide how to divide up your estate. If none are
found, the estate is confiscated. If you name Horse Haven of Tennessee,
Inc. as the final contingent beneficiary, you ensure that the IRS will
not confiscate your estate.
LIFE INSURANCE GIFTS
A gift of one of your life insurance policies to
Horse Haven of Tennessee, Inc. can result in an income tax deduction at
the time of your gift, and if you continue to pay the premiums on the
policy, those may also be deducted as a charitable contribution. Check
with your tax representative. Horse Haven of Tennessee, Inc. can be
named as a primary or contingent beneficiary of a new or existing policy
without transferring ownership of
RETIREMENT PLAN GIFTS
For those who have savings in tax-deferred
retirement accounts, i.e., IRAs, 401(k) and 403(b), funds withdrawn from
these accounts are usually taxed at both high income & estate tax rates.
According to those in charitable gifts, they advise that less than $30
of $100 in a retirement account, reaches the beneficiary.
REAL ESTATE GIFTS
A donation regarding real estate can give you a
substantial tax benefit. You may choose to receive a lifetime income or
retain life use of the property. But there are substantial tax benefits.
STOCKS AND BONDS GIFTS
The best way to handle the transfer to benefit
Horse Haven of Tennessee, Inc. is to have your broker transfer your
stocks and bonds directly to HHT. You receive a two-fold benefit a
charitable deduction for present market value & no tax on the
There are several other types of charitable giving and we suggest that
you speak to an attorney or financial advisor concerning these.