There are many ways to make gifts that maximize your financial and tax benefits and leave a lasting and meaningful legacy of impact for Deborah’s Place. Contact your financial advisor/attorney about how you can use your assets – beyond your annual income – for charitable giving.
Below are just a few ideas you can discuss with your financial advisor and/or attorney.
Please contact Development Director, Michelle Patterson at 773-638-6537 or firstname.lastname@example.org if you plan to make any of the following gifts.
Your last will and testament, estate plan and/or trust are the vehicles through which you may pass on your legacy to family, friends and charitable organizations that you support. You may make a bequest to Deborah’s Place by directing in your will and/or other documents that certain assets be transferred to Deborah’s Place after your death. You can structure the bequest to be a specified sum of money, a percentage of your estate or as a contingent bequest.
During your lifetime, such assets will continue to remain in your control and you may also modify the bequest to address your changing circumstances. We encourage you to discuss your bequest plans with your attorney or financial advisor.
Life Insurance Policies
You can name Deborah’s Place as the beneficiary or contingent beneficiary of a life insurance policy, which can reduce the value of your taxable estate.
Retirement Plan Assets
Funds held in retirement plans (including 401Ks and IRAs) at death can often be subject to income and estate taxes reducing the amount left to heirs. You can name Deborah’s Place as a designated beneficiary in the plan or IRA document or direct that an IRA distribution be made directly to Deborah’s Place.
Charitable Remainder Trust
A charitable remainder trust (CRT) is a trust that provides annual payments to one or more individual beneficiaries for a term specified in the instrument creating the CRT. At the expiration of the term, any property remaining in the CRT is distributed to one or more charitable beneficiaries.
Charitable Lead Trust
A charitable lead trust (CLT) is a trust that pays an annuity to one or more charitable organizations for a term specified in the governing instrument of the CLT. At the expiration of the term, any property remaining in the CLT passes, free of additional transfer taxes, to one or more designated non-charitable beneficiaries.
Gifts of other complex assets
Deborah’s Place may also welcome gifts of real estate, interests in other entities, private company stock, restricted stock, LLC and Limited Partnership Interests, and pre-IPO shares, as well as certain types of tangible personal property.
You may also wish to consider making a gift of appreciated securities to Deborah’s Place, which may allow you to obtain a charitable income tax deduction for the fair market value of the gift and, more importantly, avoid capital gains on the appreciation of the security.
Such gifts are considered on a case-by-case basis.
There are many ways to make a planned gift to Deborah’s Place. The best vehicle for you will depend on your individual circumstances. Please discuss your gift planning desires with your attorney or financial advisor before making a decision on this matter. The information on this site is for informational purposes only and should not be considered legal advice.
Any discussion of United States tax matters contained is not intended to be used to promote, market, or recommend to another party any transaction or matter addressed herein.