- maximizing the benefits to both you and the charity, and
- often achieving significant income and estate tax savings.
The Two Planned Giving Programs Offered by the Foundation
- Gifts by Will or Revocable Living Trust
- Gifts of Appreciated Investment Securities
Gifts by Will or Revocable Living Trust
A Will is your instruction manual to your survivors about how you want your property distributed. It's a revocable, private document that only takes affect upon your death. A Revocable Living Trust holds assets during your lifetime, and then transfers ownership of them upon your death. The Revocable Living Trust, however, is a more efficient document and most estate planning attorneys prefer it over the Will.
You can easily amend your Will or Revocable Living Trust to allow for a gift to the Foundation.
When you write a check to make a cash donation to the Foundation, your donation gives you an income tax charitable deduction. If, however, you make a donation of appreciated investment securities of equal value, you not only receive the income tax charitable deduction (at the full, current fair market value of the securities) but you also avoid the capital gains tax that you would owe if you sold the securities.
For example, it does not matter that you may have only paid $6,000 several years ago for a stock that is now worth $18,000. That $18,000 figure will be your income tax charitable deduction. As importantly, the $12,000 in taxable capital gains that you would face if you sold that stock does not apply when you transfer the stock to the Foundation.
Our gift planning staff and our attorneys who are experts in estate and tax planning are ready to work with you. We can guide you in choosing which program will work best for you and your family. Just give us a call at 800-386-2377 or send an email to Ernie Mannino at email@example.com.