“Most of us know that an estate plan is a good idea. But more than half of American Adults do not have a will.”
– George M. Hiller
Planned giving involves decisions only you can make. Freedom Guide Dogs is here to make it a little easier. There are so many ways to make a gift and we want you to be able to choose the one that is right for you. Here are just a few ways to leave a lasting gift in your will.
Gift Annuity- A contract in which a large transfer of funds is made to a charity. In exchange, the charity pays a fixed amount of money to one or two individuals (the beneficiaries) for their lifetime. The gift becomes part of the charity’s assets.
Bequests- A specific amount of money is left to a charity in a person’s will. A bequest can also be made with shares of stock, property, etc.
Residual Funds- Individuals can choose to name a charity as the recipient of funds remaining in their estates after all others named in the will are provided for.
Charitable Remainder Trusts- This type of gift is suitable for people who own property that they want to sell. By putting a portion of the property into a charitable trust, a person can bypass the capital gains tax on the sale, increase their income, and use it as a charitable tax deduction. After a specified period of time, chosen beneficiaries receive the income from the trust and the designated charity receives the principal amount.
For more information about planned giving go to www.leavealegacyofcny.org
Freedom Guide Dogs advises you to consult your attorney before writing or amending a will. By doing this you can be certain that the document will conform to the law.