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What is Planned Giving?
Planned giving (or “charitable gift planning”), refers to
the process of making a charitable gift of estate assets
to one or more nonprofit organizations.
Often it is done in the form of a provision in a will or
a charitable trust. Planned gifts are usually deferred,
meaning they are arranged now and fulfilled later. For
example, a person could include a provision in his or
her will to make a bequest to a charitable organization.
That arrangement would be a “planned” gift.
How do I make arrangements for a Planned Gift?
Seeking competent legal assistance will help make this
simple. Estate planning based on your own financial circumstances
can ensure that your assets go to the charity
of your choice. Talk to your attorney and ask him or
her to help you make the right choices for your planned
gift. Consider naming Myasthenia Gravis Foundation of
America in your estate planning.
Why should I consider a Planned Gift?
Can you think of a better way to thank the people or
organizations that have had an impact on your life,
than to make a contribution from your estate through
a bequest? Giving to a charitable organization through
your will or a variety of other planned giving options
can benefit both your loved ones and the organization
you choose to donate to. Through a variety of planned
giving options you may be able to:
- Reduce the size of your taxable estate, easing the tax
burden for your loved ones
- Save on income tax right now and in the future
- Avoid capital gains taxes
- Reduce or avoid estate taxes
Types of planned giving include:
Living Trust or Bequest in Will
Name a charitable organization as a beneficiary and
leave a specific dollar amount, percentage, the remainder
of your estate after other bequests, or leave specific
property such as real estate or stocks to a charitable
organization.
Charitable Remainder Annuity Trust
Create a trust that pays you and a charitable organization
a fixed income.
Charitable Remainder Unitrust
Create a trust that pays you and a charitable organization
an income based on a percentage of the value of the
assets.
Charitable Lead Trust
Create a trust that pays a charitable organization a fixed
income for a set period of time and then goes to your
heirs.
Charitable Gift Annuity
Donate assets to a charitable organization in exchange
for fixed payments for you and another individual for
life.
Life Insurance Gift
Name a charitable organization as the owner or beneficiary of your insurance policy.
Retirement Plan Gift
Give assets leftover after your lifetime to a charitable
organization.
Real Estate Gift
Donate property, or even sell it at a low cost, to a charitable
organization.
Retained Life Estate
Donate your home to a charitable organization while you
continue to live in it.
Pooled Income Funds
Give money or securities to a charitable organization’s
pooled income fund. The charitable organization invests
your gift with the gifts of others and each year you receive
your share of the fund’s earnings.
Thank you for remembering MGFA in your planned
giving. Your generosity will make a difference in the
lives of so many living with MG.
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