A Planned Gift - Creating a Legacy

Planned Giving helps provide ways for you to manage your assets while providing lasting financial support to ensure that local families in need will be served by Emergency Family Assistance Association well into the future. The following are descriptions and the benefits of eight simple ways to give.

 

Bequest

Your assets remain with you during your lifetime. Wills are simple and inexpensive to prepare. There is no upper limit on the estate tax deductions that can be taken for charitable bequests. You can designate to which programs you would like these funds to be donated.

 

Charitable Remainder Trust

You receive an immediate income tax deduction for some of your contribution to the trust.  As long as you are one of the beneficiaries, you pay no immediate capital gains tax on any appreciated assets you donate. You or your designated beneficiaries receive fixed payments for life or a term of years. This gift benefits you now and Emergency Family Assistance Association later.

Charitable Lead Trust

This trust helps lower estate and gift taxes that would otherwise be due on the value of the assets. This charitable vehicle is especially attractive if you wish to leave assets to children or grandchildren in the future. All appreciation that takes place in the trust goes tax-free to your heirs.

Charitable Gift Annuity

In exchange for a gift of cash, marketable stock, or securities, EFAA will pay your income for life. In addition you may receive a substantial income tax reduction in the year of the gift, and a portion of the annual payment you received is not taxed. Upon the death of the beneficiaries, the remainder goes to Emergency Family Assistance Association.

Deferred Gift Annuity

You receive an immediate income tax deduction for a portion of your gifts. You can postpone your annuity payments until you need them. The longer you defer your payments, the higher the effective rate you will receive. The principal grows tax-free. This can be an excellent retirement planning vehicle to implement during prime income producing years.

Gifts of Life Insurance

You receive a gift credit and an immediate income tax reduction for the cash surrender value for the policy. You can make a significant gift now to EFAA without adversely affecting your cash flow. You may remove the proceeds from the donor’s taxable estate upon death.

Gifts of Real Estate

You may receive a tax deduction for the full market value, minimize capital gains taxes, and remove the asset from future estate taxes. You can continue to live in and maintain the property as usual, and receive any income it generates. This arrangement creates an immediate income deduction and a federal estate tax deduction.

Retirement Accounts and Pension Plans

You can escape both income and estate tax levied on the residual left in your retirement account by leaving it to Emergency Family Assistance Association. You can continue to take withdrawals during your lifetime. You also can elect to leave retirement plan assets to Emergency Family Assistance Association through your will or revocable trust, instead.

It is important for you to discuss your goals and objectives with a professional advisor, such as an attorney, accountant, trust officer, or financial advisor. Emergency Family Assistance Association does not provide financial planning or tax advising services.   However, we can meet with you and your advisors to work out the best giving option for you and your family.  If you would like to discuss planned giving, please contact: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or 303/951-7676.