Extraordinary Ideas for Estate Gifts
Including a gift to charity in your will or living trust can be as easy as naming us to receive a specific asset, amount of money or percentage of the estate. But there are more involved arrangements, as well. Here are just a few possibilities:
Make lifetime payments to your heirs — A charitable trust can be established under your will to provide lifetime income for family members, with the remainder passing to us when the trust ends. Your estate would be entitled to a charitable deduction for the value of our right to receive the property in the future. You can also leave funds or securities directly to us and we will agree to provide a charitable gift annuity to a relative or friend for life.
Reduce estate taxes with a lead trust — You might consider a gift technique that allows you to give charity merely the income from investment assets for a number of years, with all assets later passing to your family. This technique — the charitable lead trust — lets you control the eventual distribution of all your property and share a meaningful gift between your family and charity. Lead trusts are generally used to reduce federal transfer taxes (gift, estate or generation-skipping taxes).
Consider beneficiary designations — Don’t forget that life insurance policies, IRAs and most financial and brokerage accounts can be made payable to charity at death, without any need to change your will. Remember, too, that revocable living trusts can name charity to receive benefits during life and at death.
The information in the website is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to income tax apply to federal taxes only. Federal estate tax, state income/estate taxes or state law may impact your results.