The Legacy Circle
Twenty years ago, the Legacy Circle was inaugurated to recognize that our members—and those who may have been impacted by our work from afar—were already including Zen Center of Los Angeles in their planned giving. In the two decades since, the Legacy Circle has been instrumental in helping us confront the rising costs of renovations and general operations. Simply put, without the generosity of those who have gone before, Zen Center would not be on the solid footing it is today.
What a Legacy Gift Can Do
The Zen Center has greatly benefited from the generosity of donors who have left bequests and estate gifts over the years. None of our buildings have been untouched by the Legacy Fund’s impact. In fact, everywhere you look among our buildings and grounds is a record of this endowment and a reminder of the enduring love that our past members felt for Buddha Essence Temple—their spiritual home. From railings and light fixtures that have made ZCLA more accessible, to the native plant gardens, fresh coats of paint on all the buildings, the paved driveway, renovated housing, and new floors—the list goes on. A future goal is to renovate the Dharma Hall to provide more space for talks and workshops.
Taking the Next Step
Your estate plan is about what is most important to you, and there are often a number of factors to consider, such as the welfare of your loved ones, practical matters like estate taxes, and perhaps other causes you wish to support, as well. That is why we do not ask for anything overly formal when a member wishes to include ZCLA in their planning. In short, when an individual or a couple decide they would like to include the Zen Center in their will, we only ask that they let us know. You can share with us as little or as much detailed information as you are comfortable with, but the main thing to communicate is that you’ve spoken to family members and made any arrangements that feel necessary for the time being. We do not ask for copies of any legal documents, or knowledge of any exact amounts. And just to note, it is not uncommon for Legacy Circle members to bequeath the Zen Center with assets—such as artworks, jewelry, even real estate—that may fluctuate in value over time. This is perfectly normal for estate planning. We’re profoundly grateful for whatever way you plan on showing Zen Center your enduring support.
Bequests
Bequests are the best way to ensure the future of the Zen Center’s effectiveness in manifesting the Three Treasures of Buddha, Dharma and Sangha. A bequest can be made through your will or living trust by designating the Zen Center of Los Angeles as the beneficiary of a retirement plan, life insurance policy, securities account or bank account. A bequest does not impact your financial situation during your lifetime and can be easily modified or amended should your circumstances change. You can often avoid a double taxation on your assets by gifting them as a bequest to a non-profit like the Zen Center. Retirement assets include: IRA’s, 401(k) and 403(B) plans.
There is plenty of advice online about planning your estate, but it is also a good idea to consult a family attorney.
For more information about the ZCLA’s Legacy Circle, contact the Hokyu JL Aronson, Sangha Development Steward: