Estate Planning

All wealth belongs to the Divine and those who hold it are trustees, not possessors.

Sri Aurobindo

Over the years, members of the the SASP Community have generously shared their financial resources to help fund our ongoing annual activities. Combined with funds from Auromère, this has enabled our community’s individual and collective sadhana to move towards bringing to reality the vision of Sri Aurobindo and the Mother.

Some of you have expressed interest in possibly doing more in this regard by also giving as part of your estate planning. This could enable using a portion of the funds you might have left at the end of life as a legacy of support, including long-term support, of SASP. Through a cooperative effort with the Foundation for World Education (FWE), a well structured and flexible endowment program is also available for your consideration.

In order to be realized upon earth, this creation must utilize the already existing material means and powers, but in a new way, adapted to the new needs. One of the most essential powers is the financial power.

The Mother

Legacy for the Future

New Creation Endowment

It is now possible to designate your gift to be an investment in the Sri Aurobindo Sadhana Peetham New Creation Endowment Fund. Any estate plan gifts intended for the Endowment must be designated, as more fully described below, to FWE for the benefit of (or “FBO”) the SASP New Creation Endowment Fund. Gifts intended for the Endowment must be designated this way, and not directly to SASP.

Estate Plan Gifts for SASP’s General Use

Any estate plan gifts not specifically designated to FWE for the benefit of SASP, but which are designated directly to SASP, will be treated as unrestricted gifts to SASP.  SASP will exercise its discretion as to how to use those gifts based on current needs at the time of receipt, including how much to spend for current annual needs and how much, if any, to send to FWE for adding to the SASP Endowment.

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

You May Choose Both Options

You may also designate a percentage of your gift for each of these two options. This must be done with two separate designations, one to FWE For the Benefit of its SASP Endowment Fund and the other to Sri Aurobindo Sadhana Peetham, each as described in detail below.  

How to Give Through Your Estate Plan

Wills and Living Trusts

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 SASP Endowment Fund. 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.

For an Endowment Designated Gift, here is a sample bequest language suggestion for your attorney:

I give [the residue of my estate] [% of the residue of my estate] [$______________] to Foundation for World Education (FWE) for the benefit of the Sri Aurobindo Sadhana Peetham (SASP) Endowment Fund. FWE may be contacted at PO Box 11135, Loudonville, NY 12211. FWE’s Federal Taxpayer ID Number is 13-6169404.

Please note: Since FWE is the “legal” owner of the Endowment (whereas SASP is the “beneficial owner), it is important that gift agreement designations to the Endowment be as stated immediately above. Please feel free to contact us for more information. FWE and SASP are working closely together on this effort.

For an Estate Plan Gift for SASP’s General Use (not meant to be Designated to the SASP Endowment), here is a sample bequest language suggestion for your attorney:

I give [the residue of my estate] [_____% of the residue of my estate] [$______________] to Sri Aurobindo Sadhana Peetham (SASP), a California nonprofit religious corporation, for its general uses and purposes. SASP is located at 2621 W. Highway 12, Lodi, CA. 95242. SASP’s Federal Taxpayer ID Number is 95-442-5564.

Retirement Plans and Other Beneficiary Designations

There are many ways to leave a legacy gift to SASP 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 SASP or to a non-profit Endowment.

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

Beneficiary Form Designation Language

Endowment designated gifts should be designated to Foundation for World Education (FWE) for the benefit of the Sri Aurobindo Sadhana Peetham (SASP) New Creation Endowment Fund. This can be abbreviated, as space requirements dictate, to Foundation for World Education FBO SASP Endowment. FWE’S taxpayer ID number is 13-6169404 and its address is PO Box 11135, Loudonville, NY 12211.

Estate Plan Gifts for SASP’s General Use should be designated to Sri Aurobindo Sadhana Peetham with our Taxpayer ID number 95-442-5564, if requested.

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’s 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 SASP. 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 SASP as a “TOD” (transfer on death) beneficiary.

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

Further Discussion

Good estate planning requires carefully coordinating the provisions of your will and/or living trust with all the beneficiary designations you’ve made on IRAs, life insurance policies, and other financial accounts.

We deeply and sincerely appreciate your gifts which help to support both immediate goals and the long-term development of SASP. Please let us know of any estate plan gifts you make on SASP’s behalf. Although we understand that your gift is revocable, we want to be sure that your intentions are fulfilled.

For more information, feel free to contact us.

Let money come and go in abundance for good works.

The Mother