Sometimes called deferred gifts, the term planned gifts refers to specific strategies that benefit the charity at some point in the future, while offering immediate benefits to the donor. There are several types of gifts that fall under the category of planned giving, including bequests of life income gifts such as a charitable remainder unitrust. In any case, a planned gift enables you to make a larger gift to Children's Village than you might have otherwise thought possible. This is because the charitable giving of these types of gifts offer unique income and tax benefits.
There are many types of planned gifts that can provide benefits to the donor and to Children's Village. Through a qualifying trust—generally a "Charitable Remainder Trust" or a Charitable Gift Annuity you will receive payment for life or a certain number of years. At the termination of the trust, all assets pass to Children's Village. This type of plan can increase your current income and could provide significant tax savings as well. It also allows you to support Children's Village and its programs during and after your lifetime. Please consult an attorney or financial advisor when considering this type of giving.
One of the simplest ways to make a gift is through your Will. Bequests can take the form of cash, securities, life insurance, land or buildings. This gift can include giving a percentage of your estate, giving a fixed amount or giving a specific asset, or giving whatever property is left after all bequests are distributed. It is important that your Will be prepared by an attorney to ensure that your specific wishes are carried out.
Individual Retirement Accounts (IRAs), 401(K) or other qualified retirement plans can be gifted. It is important for donors to inform their retirement plan administrators that they wish to name Children's Village as a beneficiary to the plan.
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