Leave A Legacy

Smart ways to give. Do you own assets that have substantially increased in value over the years? Donated assets such as stocks, bonds, mutual funds, or real estate may provide you with an income tax deduction based on the fair market value of the gift and eliminate all capital gains taxes. This would allow you to make a substantially greater gift (typically between 45 and 70 percent) than you otherwise would have thought possible for the same out-of-pocket cost.

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A large gift with a small cost. One of the simplest ways you can make a significant contribution is to give a life insurance policy to SOAR. You may do this in a number of ways—give a policy no longer needed, take out a new policy, or name SOAR as beneficiary on an existing policy. A gift of life insurance may provide valuable income and estate tax savings.

One of the most efficient ways to give. Your qualified retirement plan account is subject to layers of taxation (i.e., estate tax, federal income tax, and state income tax). For some accounts, the combination of these taxes can be as high as 75 to 85 percent! A charitable gift of these funds, however, may provide a charity with the full 100 cents on the dollar. The 15 to 25 percent your heirs would receive may be replaced with an asset replacement trust.

The IRA Charitable Rollover (QCD) is another option. The QCD permits taxpayers aged 70½ or older to make tax-free distributions directly to charitable organizations from traditional Individual Retirement Accounts (IRAs) or a Roth IRA of up to $100,000 per individual.

Numerous other innovative retirement plan giving opportunities exist, and we would be happy to provide additional information upon request.

A simple way to leave a substantial gift. Your bequest to SOAR is as simple as adding a codicil to your will. This is the most common planned gift, and it may provide you with valuable estate tax savings.

Charity benefits now, your heirs benefit later. If you would like to benefit a charity for a number of years and then have the assets pass to your designated heirs free of estate/gift taxes, a charitable lead trust might be the solution. This trust makes variable or fixed charitable distributions for a term of years with the remainder going to a non-charitable beneficiary.

Guaranteed income stream for life. A charitable gift annuity allows you to contribute assets to SOAR and receive a charitable income tax deduction. In turn, we will provide you with a guaranteed income for life (the payout may vary depending upon your age and other factors). This vehicle can ease the worries of outliving financial resources by providing a high income coupled with numerous tax advantages.