Wills and Bequests
Estate Planning Assistance
Gift Annuities are established by transferring cash, securities or other assets to us in exchange for fixed payments for life. Payments can either begin immediately or be deferred to a later date.
Five Tangible benefits exist for creating a gift annuity.
1. Fixed payments - You receive fixed payments for life based on your age at the time you fund the annuity or based on your combined ages should you designate a second beneficiary.
2. Tax-free return - A portion of each payment you receive is considered a return of principal and not reportable on your income tax return.
3. Charitable income tax deduction - A portion of each transfer is considered a charitable gift and is deductible up to the amount allowed by law.
4. Potential capital gains tax-savings - By funding a gift annuity with appreciated stocks, bonds or other assets, you will avoid capital gains tax on part of the assets appreciations. Annuity payments are based on the fair market value of the stock on the date of transfer.
5. Helping a great cause - A gift annuity provides income to you while helping to support the Salvation Army's future.
Wills and Bequests
Naming The Salvation Army as a beneficiary in your will helps to ensure the future of The Salvation Army. There are different ways of designating part or all of your estate to The Salvation Army. In addition, there may be estate tax benefits to making this type of charitable gift.
1. A fixed dollar bequest - This method is usually best for smaller estates, with a high liquidity. This ensures The Salvation Army will receive a designated amount.
2. A percentage bequest - Many people choose to leave a set percentage of their estate for specified Salvation Army uses.
3. Bequest of the residue - Perhaps the most common method of leaving a charitable bequest to The Salvation Army.
A Charitable trust enables you to receive income while receiving tax-savings benefits. A Charitable trust may be funded with cash, appreciated securities, or with saleable property. A trust can provide you with an income for life along with a substantial tax savings. There is no liability for capital gains tax when funding a Charitable Remainder Trust with appreciated stock.
Our Planned Giving personnel will be happy to meet with you to discuss the options available for considering the Army in your estate plan. If you would like to receive more detailed information about any of the above options or to receive assistance with the estate planning process, please call 706-826-7933.