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Planned Giving
When
deciding upon your estate planning strategy, you
may wish to consider a charitable contribution
to Advent in your plan. In addition to benefiting
our ministry, you may also receive a steady stream
of income, as well as potential tax benefits.
There are numerous options for
setting up a charitable contribution in your estate
plan. Below is a brief description of a few common
types of giving vehicles. These descriptions are
general. Please consult a financial planner for
detailed information and plans that will meet
your specific needs.
If you would like to discuss
including Advent in your planned giving, please
email Jennifer
Morrow, or call her at 408-281-0708 ext. 125.
She will be happy to set up a time to meet with
you to discuss your charitable giving options.
Bequest in a Will
You may wish to designate Advent as a beneficiary
of your estate in your will.
Retirement / IRA Account
Your IRA may be transferred to Advent upon your
death. Additionally, if you are over 70½ years old, you may be eligible to make an IRA charitable rollover to our ministry, and your gift will not be included in your federal taxable income. Advent will not incur any income tax because
the proceeds are tax-exempt.
Life Insurance Policy
A donor may choose to designate Advent as a beneficiary
on their life insurance policy. You many also
donate an existing policy that is no longer needed,
or even establish a new policy specifically for
the charity. There are potentially significant
tax benefits when a donor purchases a policy specifically
for the charity.
Charitable Remainder Trust
A charitable remainder
trust is one of the most popular charitable giving
vehicles. Cash or other assets are put into the
trust and a donor receives payments, determined
by the age of the donor. At the death of the donor,
the balance is transferred to Advent.
Charitable
Lead Trust
A charitable lead trust is a
trust designed to reduce the taxes upon the estate
of the deceased. This is accomplished by donating
a portion of the trust to a charity (or charities)
until all the taxes are reduced. After a specified
period of time, the estate is transferred to the
beneficiaries, who will usually face lower taxes.
Charitable Gift Annuity
A charitable gift annuity enables
you to transfer cash or other property to a charity,
in return for a current income tax deduction and
the charities promise to make fixed, annual payments
to you for life. Annuity payments can begin immediately
or can be deferred to some future date.
See our
list of currently
needed items.
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