With the assistance of a financial advisor, you can make a planned gift that will meet your charitable and financial goals. The potential benefits are to:
Increase current income.
Reduce income tax.
Avoid capital gains tax.
Pass assets to your family with reduced taxes.
Make significant donations to charity.
Some of the most common planned gifts that Friends of the Orphans receives are:
When a donor decides to leave some assets to charity in his or her will, it is a bequest. The donor's estate will receive a charitable estate tax donation when the gift is made to the charity.
Charitable Remainder Trusts:
This trust makes payments, either fixed (annuity trust) or a percentage of principal (unitrust) to the charity. The donor may claim a charitable income tax deduction and may avoid capital gains tax. At the end of the trust term, the charity receives whatever amount is left in the trust.
Charitable Lead Trusts:
This trust makes payment to charity for a number of years. At the end of the trust term, the principal goes to heirs named by the donor. The donor may claim a charitable gift tax deduction for making a lead trust gift.
If you are interested in finding out more about any of these special types of planned gifts, please contact:
Dee Campbell, Executive Director, at 1-888-Share-Love or (602) 967-9449