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1. Wills. After providing for personal bequests, you may include provisions for setting up a fund or add to one you already have. You will save estate taxes and assure that the charitable work you care about is carried on.
2. Deferred Giving. Donors can set up funds through deferred-giving arrangements. A key feature of many estate plans is a tax advantage to you now for the commitment of a charitable gift later. The following can be used:
- Charitable remainder trusts allow you to receive income (or provide income for another person); when the trust terminates, the remaining assets will be used to support your charitable interests.
- Charitable lead trusts enable you to make significant charitable gifts in the near term while transferring substantial assets to beneficiaries, who may benefit from significantly lowered gift and estate taxes.
- Retirement plan assets can be used to support your charitable interests while achieving significant tax advantages for your heirs.
- Life insurance can be used as a charitable asset, enabling you to be eligible for a charitable tax deduction based on the current value of the paid-up policy.
Click here to learn more about these deferred giving gifts. |
