The simplest form of “planned gift” is a straightforward sentence included an individual’s will, known as a “bequest.” From there, the possibilities are nearly endless, and can be developed in creative ways with the help of an attorney, a trust officer, a financial advisor or others. Annuity plans, life insurance or retirement plan designations, and many more vehicles can be explored and have a range of benefits for both a donor and a beneficiary organization. If you’d like to learn more about planned giving, please call 776-6743.
Thanks to charitable IRA legislation enacted at the end of last year, you can make lifetime gifts using funds from your individual retirement accounts (IRAs) through 2009 without any undesirable tax effects.
Giving in tough times can provide more for your heirs and cut taxes. Americans today are anxious about their money. Their stock values are falling and their 401(k) plans are so low that it's hard to open the quarterly statements. Maybe it's time to consider charitable giving.