Including Family Service Association of Redlands in your estate plan helps you make a major contribution to a cause in which you believe, while greatly helping Family Service continue to pursue our mission to alleviate poverty, encourage self-sufficiency, and promote the dignity of all clients. Planned Gift: Any major gift made as part of a donor’s overall financial and/or estate planning.
Legacy Giving
The 1898 Society: A Legacy of Caring
Planned gifts can take on many forms, including cash, securities/stock, artwork, real estate, life insurance policies, retirement plans, personal property, and more.
There are three major types of planned gifts:
Outright gifts that use appreciated assets as a substitute for cash.
Gifts that return income or other financial benefits to the donor in return for the contribution.
Gifts payable upon the donor’s death.
Please consult with your attorney or financial adviser to decide which method is best for you. He or she can advise you on the pros and cons of each approach, and the steps necessary to pursue your chosen giving method.
Want to learn more about how you can include Family Service in your estate planning? Call (909) 793-2673.
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Out Right
Gifts
Cash
A cash gift—which can be made using a check or credit card—is the simplest way of making a charitable contribution. Cash gifts are fully deductible for federal income tax purposes. The maximum deduction in one year is limited to 50 percent of the donor’s adjusted gross income. Unused deduction amounts exceeding this limit can be carried forward for up to five or more years.
Appreciated Securities
Gifts of appreciated securities—stocks and bonds, including stocks in closely held companies—provide important tax advantages to the donor. The full fair market value of the donated appreciated securities is fully deductible as a charitable contribution for federal income tax purposes. Unused deduction amounts exceeding this limit can be carried forward for up to five more years. In addition, the donor does not pay federal capital gain tax on the appreciated portion of the gift.
Bequests
An excellent way to provide a gift after your life is by means of a bequest in your will or living trust. Setting up an endowment in your family’s name to support your favorite charities is a wonderful way to continue to support your philanthropic priorities in perpetuity. You may select an exact amount, a certain percentage, or a particular asset.
Life Insurance
A gift of life insurance is another way to make a substantial contribution. By assigning ownership to Family Services Association, the donor can receive a tax deduction for the cash value of the policy and the premiums paid each year.
Real Estate
A gift of real estate can provide many tax advantages. Gifting a residence, vacation home, commercial building, ranch land, or vacant property can also provide lifetime income. Please contact our staff to discuss the details of such a gift.
Retained Life Estates
The donor can contribute a private residence, vacation home, or farm while retaining the right to live in and use the property. The donor may receive a generous income tax deduction for such a gift.
Retirement Plan Assets
Using IRAs and other retirement plan assets is a farsighted and thoughtful way to make a charitable contribution. It provides the donor a number of significant financial and tax advantages. Unlike many assets, retirement plan assets are potentially subject to both income and estate taxes. Naming Family Services Association as the beneficiary of a retirement plan—including IRAs, 401(k)s, and profit sharing plans may possibly eliminate estate and income taxes in some cases.