Planning Strategies Your Giving Options The most common donations are outright gifts, such as cash or a check, which we receive right away. But many times, people want to hold on to their money and other assets for now, just to be sure they can meet their family's future financial needs. These people are usually delighted to learn that we have excellent alternatives which allow them to still make a gift. One of these options could be right for you, too. They're known as "planned" gifts. They can be revocable -- a charitable bequest in your will, for example -- so that you can change your mind at any time. Or they can be irrevocable (just as outright gifts are), so that you benefit from an immediate income tax deduction. The attraction of irrevocable planned gifts is that they are deferred. You part with an asset today, but the actual giving of the asset to us is put off for a while-often until after your lifetime (and that of a surviving beneficiary, if you wish). During that time in between, you receive benefits from the gift. For example, with a charitable remainder trust, you receive lifetime income from the asset after it's placed in a trust, and then we receive the remainder of the trust after you die. Or you could deed us a remainder interest in your home and still retain the right to live in it for life. At any rate, the key feature of planned gifts like these is that they allow the donor to benefit, as well as the charitable organization. Learn More The chart summarizes the benefits of some of the main types of charitable gifts. Just think of what you want to accomplish with your gift, and there's probably a way to do it! We're here to answer any questions you might have about planned giving. We can examine your particular situation and, together with your attorney and/or financial advisors, help you find ways to support our mission while at the same time assuring your family's financial security. Please call us for more information at 260-422-4611 or email Elisa Smith at esmith@fw.diocesefwsb.org The information in this publication is not intended as legal advice. For legal advice, please consult an attorney.   What is it? What are the tax benefits? What are some other benefits? Outright Gift A donation of cash, securities, or personal property Income tax deduction for the value of the gift, plus no capital gains tax due on appreciated property You can tailor your gift to the charity's immediate needs Living Trust A trust you establish to take effect during your lifetime Possible savings in estate taxes if a charity is the beneficiary of the trust remainder Terms of the trust can be changed at any time Bequest In Will A gift you make by naming a charity in your will Estate tax deduction for the value of your bequest to charity Gives you flexibility in providing for family needs first Life Insurance Gift A gift of an old or new policy with a charity named as beneficiary and owner Immediate income tax deduction for gift's value, plus possible estate tax savings Provides a way to make a significant gift with little expenditure Retirement Plan Gift A gift made by naming a charity as remainder beneficiary after your death Avoids tax on 'income in respect of a decedent' as well as estate tax on the plan Preserves plan's value and allows you to leave heirs less costly bequests Real Estate Gift A donation of real property, either in full or with a retained life estate Immediate income tax deduction for the charitable value of the gift, plus no capital gains tax due Can allow you to live in your home and still receive charitable deduction Charitable Remainder Annuity Trust A trust that pays a set income to you or those you name before a charity receives remainder Income tax savings from deduction, no capital gains tax liability, possible estate tax savings Provides guaranteed annual income for donor or other beneficiary Charitable Remainder Unitrust A trust that pays variable income to you or those you name before a charity receives remainder Income tax savings from deduction, no capital gains tax liability, possible estate tax savings Provides annual income that could increase if trust value increases Charitable Gift Annuity A contract in which a charity agrees to pay you back a percentage of your gift annually for your lifetime Immediate income tax deduction for part of gift's value, capital gains spread out over life expectancy Gives you and/or another beneficiary a set income for life Charitable Lead Trust A trust that pays a charity an income for a period of years before you or heirs receive the trust remainder Gift or estate tax savings for value of payments made to a charity Allows you to pass assets to heirs intact at a reduced cost * Not available from all organizations