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Supporting Beacon Animal Rescue through planned giving is a remarkable way to extend your support and compassion for animals in need.
Leave a Lasting Legacy with Bequests: One of the most straightforward options for planned giving is to include a bequest in your will. Regardless of your age or financial status, having a will is essential to ensure that your property is distributed according to your wishes. It's important to consider that the federal estate tax can potentially claim a significant portion, approximately 40-50%, of your estate upon your passing. By engaging in advance planning with the guidance of your attorney or professional advisor, you can make a charitable bequest in your will that not only benefits Beacon Animal Rescue but also provides potential estate tax savings for you. What's more, a bequest to Beacon Animal Rescue is not subject to federal or estate taxes, and there are no limits on the deductible amount.
Designate Beacon Animal Rescue as a Beneficiary: Have you thought about naming Beacon Animal Rescue as the beneficiary of a life insurance policy that is no longer needed to provide for dependents? This option allows you to make a substantial gift to support Beacon Animal Rescue without utilizing any of your estate's capital. Another alternative is to designate Beacon Animal Rescue as both the beneficiary and owner of a paid-up policy, which provides you with an immediate tax deduction equal to the policy's cash value. To explore further details, we recommend reaching out to your policy's issuing agent.
Simple Planned Giving with Certificates of Deposit (CDs): Consider an easily managed planned giving option by purchasing a Certificate of Deposit (CD) at your local bank and naming Beacon Animal Rescue as the payable-on-death beneficiary. The CD can continue to earn interest while on deposit until your passing, at which point Beacon Animal Rescue will receive its value. It's crucial to ensure that the CD automatically rolls over and maintains the beneficiary designation to ensure a seamless transition.
Charitable Remainder Trusts: For individuals who own appreciated assets, such as rental properties, and seek to receive income for life, a Charitable Remainder Trust presents an excellent option. By transferring these assets to the trust, they can be sold, enabling you to avoid capital gains tax. The proceeds from the sale are then invested, and you or another designated beneficiary can receive regular payments for a set term or for life. Ultimately, at the end of the trust's life, the remaining principal becomes a generous gift to Beacon Animal Rescue. To explore the intricacies of a Charitable Remainder Trust, we recommend consulting your attorney or another professional advisor.
Gifts of Property/Real Estate: You have the opportunity to contribute appreciated property to Beacon Animal Rescue through your will or living trust. By doing so, you would receive an estate tax charitable deduction for the full value of the property. To substantiate an income tax deduction, a qualified appraisal obtained no earlier than 60 days before making the gift is required.
By exploring these diverse avenues of planned giving, you can create a lasting impact on the lives of animals at Beacon Animal Rescue while also potentially benefiting from tax advantages.
Please contact our Director at (609)-390-7946 for more information regarding planned giving.
Supporting Beacon Animal Rescue through planned giving is a remarkable way to extend your support and compassion for animals in need.
Leave a Lasting Legacy with Bequests: One of the most straightforward options for planned giving is to include a bequest in your will. Regardless of your age or financial status, having a will is essential to ensure that your property is distributed according to your wishes. It's important to consider that the federal estate tax can potentially claim a significant portion, approximately 40-50%, of your estate upon your passing. By engaging in advance planning with the guidance of your attorney or professional advisor, you can make a charitable bequest in your will that not only benefits Beacon Animal Rescue but also provides potential estate tax savings for you. What's more, a bequest to Beacon Animal Rescue is not subject to federal or estate taxes, and there are no limits on the deductible amount.
Designate Beacon Animal Rescue as a Beneficiary: Have you thought about naming Beacon Animal Rescue as the beneficiary of a life insurance policy that is no longer needed to provide for dependents? This option allows you to make a substantial gift to support Beacon Animal Rescue without utilizing any of your estate's capital. Another alternative is to designate Beacon Animal Rescue as both the beneficiary and owner of a paid-up policy, which provides you with an immediate tax deduction equal to the policy's cash value. To explore further details, we recommend reaching out to your policy's issuing agent.
Simple Planned Giving with Certificates of Deposit (CDs): Consider an easily managed planned giving option by purchasing a Certificate of Deposit (CD) at your local bank and naming Beacon Animal Rescue as the payable-on-death beneficiary. The CD can continue to earn interest while on deposit until your passing, at which point Beacon Animal Rescue will receive its value. It's crucial to ensure that the CD automatically rolls over and maintains the beneficiary designation to ensure a seamless transition.
Charitable Remainder Trusts: For individuals who own appreciated assets, such as rental properties, and seek to receive income for life, a Charitable Remainder Trust presents an excellent option. By transferring these assets to the trust, they can be sold, enabling you to avoid capital gains tax. The proceeds from the sale are then invested, and you or another designated beneficiary can receive regular payments for a set term or for life. Ultimately, at the end of the trust's life, the remaining principal becomes a generous gift to Beacon Animal Rescue. To explore the intricacies of a Charitable Remainder Trust, we recommend consulting your attorney or another professional advisor.
Gifts of Property/Real Estate: You have the opportunity to contribute appreciated property to Beacon Animal Rescue through your will or living trust. By doing so, you would receive an estate tax charitable deduction for the full value of the property. To substantiate an income tax deduction, a qualified appraisal obtained no earlier than 60 days before making the gift is required.
By exploring these diverse avenues of planned giving, you can create a lasting impact on the lives of animals at Beacon Animal Rescue while also potentially benefiting from tax advantages.
Please contact our Director at (609)-390-7946 for more information regarding planned giving.