Planned giving is a unique philanthropic tool that allows you to promote the Athens-Clarke Heritage Foundation while at the same time fulfilling your own financial objectives. It will allow you both to maximize your estate for your heirs and to make a substantial gift to the foundation. Planned gifts, commonly referred to as deferred gifts, are estate management tools provided by the Federal Tax code in which the donor parts with the asset today to receive the income and tax benefits, while the actual gift of the asset to the A-CHF is deferred for a period of time, often the lifetime of the donor.
Planned gifts come in two general categories: life income gifts and estate gifts. Life income gifts provide either an income or the use of some assets for the duration of the donor’s life. Examples of life income gifts are charitable remainder trusts wherein assets are placed in trust from which the donor received income and the tax benefits of a charitable contribution. After the lifetime of the donor and the lifetime of a surviving beneficiary, if desired, the corpus of the rust will pass to the A-CHF. Estate gifts are normally associated with the donors’ wills or final distribution of estates where assets pass directly to the A-CHF upon the donor’s death, affording his or her estate the tax benefits of a charitable contribution.
The benefits of planned gifts are great, both for the A-CHF and the donor’s estate. Private donations are critical to the A-CHF’s success. The foundation depends almost entirely on these donations. The tax and other financial benefits to the donor are also great. Through a number of methods, planned gifts allow donors or their estates to make charitable gift deductions that can significantly reduce their taxable estate. If you contribute appreciated assets—such as stocks, bonds, mutual funds, or real estate—you obtain an income tax charitable deduction for the full current market value of the asset and avoid the capital gains tax you would have paid if you sold the asset outright.
The use of gift planning techniques has grown dramatically over the past twenty years, benefiting thousands of charitable organizations such as the Athens-Clarke Heritage Foundation. Each type of planned gift carries its own complexities, which are best negotiated by an experienced professional.
To learn more about which gift vehicle would best suit your situation, please contact Amy Kissane at 706.353.1801 or via email at firstname.lastname@example.org, for a no-obligation consultation. We would be happy to meet with you and your financial, tax, and/ or legal advisors to determine a plan that works for you.