Your Estate Plan
Giving to our cause can be done either directly or through a gift model that can provide tax benefits and even income. Here are nine gift models:
You designate our organization as the beneficiary of your asset by will, trust or other instrument. A bequest is one of the easiest gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift to be made to family, friends or Washington Conference of SDA as part of your estate plan.
Charitable Gift Annuity
You transfer your cash or appreciated property to our organization in exchange for our promise to pay you fixed income (with rates based on your age) for the rest of your life. If you desire current income, you may transfer property in exchange for our promise to pay you fixed income beginning as early as this year. You will receive a current income tax charitable deduction for the value of your gift to Washington Conference of SDA.
You transfer your cash or appreciated property to fund a charitable trust. The trust sells your property tax free and provides you with income for life or a term of years. A charitable remainder unitrust pays you income that reflects trust investments. There is the potential that your income could increase over time with growth in the trust.
Charitable Annuity Trust
You transfer your cash or appreciated property to fund a charitable trust. The trust sells your property tax free and provides you with fixed income for life or a term of years. If you are tired of riding the fluctuating stock market and want a fixed income, a charitable remainder annuity trust may provide you with the stability you desire. A charitable remainder annuity trust pays out a fixed amount each year based on the value of the property at the time it is gifted.
Charitable Lead Trust
You transfer your cash or property to fund a lead trust that makes gifts to us for a number of years. You receive a charitable deduction for the gift. Your family receives the remainder at substantial tax savings. With increased volatility in the stock market you may also want to consider creating a lead trust that makes fixed payments of increasing amounts to us over time. Because the payments to us are fixed, your family ultimately benefits from any growth in the trust. Low payouts in early years allows the trust to grow, thus allowing protection should the economy produce below-average returns in the future.
Sale and Unitrust
If you give a portion of your property to us to fund a charitable remainder trust, when the entire property sells you receive cash and income for life. You get the cash you need to purchase another residence, travel or meet your daily needs. The unitrust provides you with income for the rest of your life and future retirement. The unitrust deduction gives you valuable tax savings that may reduce your tax bill this year. The unitrust deduction gives you valuable tax savings that may reduce your tax bill this year.
We purchase your property for less than fair market value. You receive the cash and a charitable deduction for the difference between the market value and purchase price. If you are considering selling your property, a bargain sale will help you meet all of your goals.
- Avoid capital gains tax on your charitable gift.
- The deduction from your gift will give you valuable tax savings that may reduce your tax bill this year.
- With the cash received from the sale, you may then reinvest to create more income for your future.
- Best of all, your gift will help Washington Conference of SDA further its work.
Give it Twice Trust
You may be looking for a way to provide your children with income while making a gift to charity. The Give it Twice Trust is a popular option that allows you to transfer your IRA at death to a term of years unitrust.
- Full value of IRA invested to produce income.
- Payments made to children for a term of years.
- Estate tax deduction and savings for your gift.
- Supports the work of Washington Conference of SDA.
Life Estate Reserved
You may desire to leave your home or farm to us at your death, but would like to receive a current charitable tax deduction. A life estate reserved might offer the solution you need! You can deed your home or farm to Washington Conference of SDA but keep the right to live and maintain the property for the rest of your life or residency on the property. You will be able to make a current gift to Washington Conference of SDA and maintain use of your home or farm.
Have charitable gift questions? Call Washington Conference Planned Giving and Trust Services at (253) 681-6008 to learn more about these gift models!