Planned Giving – Is it for Me?
The problem – You want to assure that your favorite charity, Lancaster Dollars for Higher Learning for example, receives a gift in the future, but you are not ready (or you think you are not ready) to give up the current benefit of the gift. The solution might be to consider planned giving.
Planned gifts are gifts to charity in which the donor plans ahead, thereby taking full advantage of the opportunities afforded by the tax code. Working with your advisors and the charity you wish to benefit is important to ensure that your intent and goals are met in the most effective and beneficial manner for both you and the charity.
Consider some of these planned giving techniques:
Bequests through your Will
Gifts of long term appreciated publicly traded stock during your lifetime
Gifting of ownership of paid-up life insurance policies to the charity
Naming the charity as beneficiary of an insurance policy
Naming the charity as beneficiary (or one of the beneficiaries) of retirement funds such as an IRA or 401(k)
Each technique offers benefits to meet your specific goals such as lifetime income, immediate tax deduction, deferral or avoidance of capital gains tax, asset diversification and most importantly benefit to the charity.
If you are seeking a solution to your charitable gifting problem and want to benefit Lancaster Dollars for Higher Learning, why not speak to your advisors and Christie Livengood at Lancaster Dollars for Higher Learning to determine if a planned gift is the solution.
Charities and Endowment Group
Fulton Financial Advisors