Planned giving involves providing for a future gift to charities through your financial gift to charities through your financial and estate plans. Hope & A Future welcomes gifts made through different planned giving arrangements, which can:
-Provide for you or your loved ones
-Help you avoid capital gains taxes, where applicable
-Help your heirs avoid or reduce estate taxes, where applicable
-Entitle you to charitable gift deductions from your income taxes
-Enable you to leave a legacy for Hope & A Future
Contact Board Member and Attorney Kyle Hanson by phone or email for more information. Attorney Hanson works with wills, trusts, and estate plans from his primary office in Madison, Wisconsin or his secondary office in Barrington, Illinois.
Bequests and Estate Plan Gift Options
You may bequest or gift through your estate by including a provision in your will or living trust, or by naming Hope & A Future III as a beneficiary of a retirement plan or life insurance policy. The amount left to Hope & A Future can be expressed as a dollar amount or as a percentage of the assets to be given.
There are many ways to give, including cash, stocks, bonds, mutual funds, retirement assets, or real estate. Each of these methods can result in tax deductions. Proceeds from the tax deductions can be used to purchase and pay the premiums of life insurance, which is another way your gift can also benefit your heirs.
Life Insurance Benefit
Did you know that your donation to Hope & A Future doesn’t have to impact your heirs?
Here’s how it works:
After you make a contribution to Hope & A Future, you can claim a deduction from your income taxes. Your heirs (or, if you have an irrevocable trust, your beneficiaries) can then use the tax savings to purchase and pay the premiums on a life insurance policy, which is taken out on the donor’s life. An arrangement like this can help offset the impact of your donation on your heirs or beneficiaries.
Giving cash is the easiest way to make an immediate financial impact on Hope & A Future. By doing so, you can claim a deduction for charitable contributions from your income taxes. This can be done either online or through the mail.
You can send a personal check to:
If you have a specific purpose in mind for the use of the funds, include it on the memo line of your personal check, or in an attached letter.
Donating real property can be a great way to leave a lasting legacy for Hope & A Future. Real property can include title to a primary residence, a vacation home, commercial property, undeveloped or agricultural land, or even a portfolio that includes one or more property types.
You can avoid the financial hit from any applicable capital gains tax on appreciated assets. Simultaneously, you can declare a deduction for charitable contributions on your income taxes.
Gifting of real property is typically done by executing a deed which transfers ownership. For tax purposes, the dollar amount of your gift is based on the property’s fair market value, which must be established by an independent appraisal.
Appreciated Securities (Stocks, Bonds, Mutual Funds, etc.)