The Actors Fund recently received a special gift from the late actor and playwright Albert Hackett. He bequeathed to The Fund one half of the royalties from the award-winning play The Diary of Anne Frank which he co-authored with his wife, Frances Goodrich. The Fund is honored to be associated with a play of such power and thrilled that the income from this world-reknowned work will assist members of the entertainment community for years to come.

Donations of royalties or residuals to The Fund are not uncommen. Many notable professionals have made similar gifts. They include Rick Besoyan, the composer and playwright of Little Mary Sunshine, the multi-talented composer. playwright, actor, singer, dancer and producer, George M. Cohan, who wrote countless shows including The Tavern and Little Johnny Jones; the talented lyricist Nancy Hamilton who wrote the lyrics for How High the Moon and the musical Peter Pan; and the famous singer, actor and composer Al Jolson, well known for California, Here I Come and Mammy.

Others include playwright Anne Nichols, whose Abie's Irish Rose was one of the longest running hits in Broadway history; Basil Rathbone, the most famous Sherlock Holmes of all time; and the actress best known for her portrayal of Mrs. Thurston Howell 3rd in the hit television series Gilligan's Island, Natalie Schafer.

Using funds from a retirement account to make bequests is often a good strategy. If there is a balance in your retirement account at your death, not only is there a potential income tax burden, but there may be estate taxes as well. Estimates are that taxes could eat up as much as 70-75% of retirement assets under certain circumstances. Careful planning concerning retirement funds needs to be done. Some additional information regarding retirement assets is available.

Another option to consider in making a gift is to use life insurance policies that are no longer needed or necessary. There are some different ways to make a gift of life insurance.

A bequest for the benefit of The Actors Fund can be included in the body of your will or added by a codicil. To name The Fund as the beneficiary, you should use its legal name: The Actors Fund. You also may describe a specific purpose for the use of your bequest. Bequests may be made to The Fund in several ways:

1. Residuary Bequest

You may state that all or a portion of your estate be given to The Fund after specific amounts are distributed to other beneficiaries.

2. Specific Bequest

You may stipulate that a certain percentage of your estate, a certain dollar amount, or particular securities or other assets such as royalties or residuals be given to The Fund. Often bequests include gifts of appreciated assets.

3. Contingent Bequest

You may direct that your assets be distributed to The Fund only if your primary heirs do not survive you.