Adding TSP to Your Will or Trust

Naming TSP as a Beneficiary in your Will or Trust.

The Texas Star Party has been going strong since 1979.  You can help TSP to continue into the future by naming the “Friends of TSP” fund of the Texas Star Party, Inc.  (“TSP”) as a beneficiary in your will.

TSP is a non-profit corporation and registered as a charitable organization with the Internal Revenue Service.  So a current gift or a bequest in your will may have favorable tax benefits you should discuss with your tax advisor. 

As far as making the bequest, you should consult with a lawyer on the process of either making a will, or if you already have a will, adding TSP as a beneficiary by an amendment (codicil) to your existing will.  Here’s an example of what that might look like:  “I direct that all debts in my estate, including taxes, be paid from my estate.  For the disposition of the remainder of my estate, as a special bequest, I bequeath $5,000 be made to the Texas Star Party, Inc. , and $5,000 to the XYZ Church.  The balance of my estate I bequeath to my spouse, should she survive me.  If she does not survive me, to my children in equal shares.”

There are convenient, low-lost providers of simple wills, if you don’t already have one.  For example  Legal Zoom and  Quicken Willmaker.  You should consult with an attorney about what is appropriate for your situation.

You can also donate the proceeds from the sale of your telescope.  TSP can assist with finding a willing buyer using our For Sale forum.  We’ll work with your estate’s Executor to facilitate however we can.

If you have enjoyed the TSP experience in the past, this would be an ideal way to “pay it forward” as a legacy and preserve that experience for the future.

 

Do you need further information?  We can have one of our knowledgeable staff contact you for further discussion.  Login below to submit your request.

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