PLANNED GIVING
Did you know there are ways to support the Siskiyou Humane Society that don’t affect your current lifestyle or your family’s security?
You can support the shelter with gifts that don’t impact the way you live by designating the Siskiyou Humane Society to receive estate assets in the future, or by making immediate gifts to us of assets that are “out of sight and out of mind.”
We call these Easy & Affordable Planned Giving Options because anyone can make them now without impacting cash flow, lifestyle, or family security.
The Benefits
- You can make a gift that costs you nothing during your lifetime.
- You can make a gift that leaves your cash flow and current financial planning unchanged.
- You don’t have to use cash to make your gift; you can “buy low and give high” by making your gift with appreciated securities instead.
- You can give an asset you no longer need or want.
Easy & Affordable Giving Options
Gifts from Your Will or Trust
Need to preserve your assets during your lifetime? You can plan a gift to us that will only take effect after your other obligations have ceased. You can include a bequest to the Siskiyou Humane Society in your will or trust. This bequest can be unrestricted or directed to a specific purpose. The bequest can be indicated as a specific amount, or a percentage of the balance remaining in your estate or trust. This way your assets remain in your control during your lifetime and under current tax law, there is no upper limit on the estate tax deduction for your charitable bequests.
Sample Gift Language:
- I give and devise to the Siskiyou Humane Society, located in Mount Shasta, CA all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).
- I give and devise to the Siskiyou Humane Society, located in Mount Shasta, CA the sum of $___________ (or asset) to be used for its general support (or for the support of a specific fund or program).
- If (insert name) is not living at the time of my demise, I give and devise to the Siskiyou Humane Society, located in Mount Shasta, CA the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund or program).
You may name the Siskiyou Humane Society as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.
Gifts from a Retirement Plan
Give us assets subject to double taxation, then leave more to your family. Name the Siskiyou Humane Society as a beneficiary of your IRA, 401(k), or other qualified plan. You can designate us to receive all or a portion of the balance of your plan through your plan administrator. Then the balance in your plan passes to the shelter after your death.
The benefit of this plan is avoiding the potential double taxation your retirement savings would face if you designated them to your heirs. You can continue to take regular lifetime withdrawals. As well as maintain flexibility to change beneficiaries if your family’s needs change during your lifetime.
Gifts of Stock and Appreciated Assets
A gift of stock and appreciated assets allows you to take advantage of appreciated securities without incurring capital gains tax. With this plan you transfer appreciated stocks, bonds, or mutual fund shares you have owned for more than one year to the Siskiyou Humane Society. The shelter then sells your securities and uses the proceeds for its programs.
The benefits are that you receive an immediate income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them. You pay no capital gains tax on the transfer when the stock is sold, and giving appreciated stock could be more beneficial than giving cash.
Gifts of Life Insurance
With a gift of your life insurance you don’t need a large estate to make a significant gift to us. Here’s how you can leverage your dollars for a larger gift. You transfer ownership of a paid-up life insurance policy to the Siskiyou Humane Society. The shelter can then elect to cash in the policy now or hold it.
The benefits are you can make a gift using an asset that you and your family no longer need and receive an income tax deduction. In some cases, you can use the cash value in your policy to fund a life-income gift, such as a deferred gift annuity.
Gifts of Real Estate
A gift of real estate is a valuable asset you can donate in exchange for powerful tax benefits. You deed your home, your vacation home, undeveloped property, or a commercial building to the Siskiyou Humane Society. The shelter may use the property for its own purposes or sell it and use the proceeds.
The benefits are you receive an income tax deduction for the fair market value of the real estate, you pay no capital gains tax on the transfer, and you can direct the proceeds from your gift to a specific program at the shelter.
Gifts of Personal Property
You can give the Siskiyou Humane Society many kinds of valuable personal property, such as a valuable painting, antiques, an automobile to help us enhance our mission and provide tax benefits to you. Once you transfer the personal property to the shelter we may hold and display the property, use it in the furtherance of our mission or sell the property at some point and use the proceeds to help animals in need.
The benefits are you receive an immediate income tax deduction for the appraised value of your gift and pay no capital gains tax, so long as the gift can be used by the shelter to carry out its mission.
Without using cash, you can make a gift that is immediately beneficial to the Siskiyou Humane Society.
To learn more about these plans and for assistance in choosing the right one for you, please contact Bob Winston at KWB Law in Mt Shasta: Rwinston@kwb-law.net
