According to Forbes.com, “planned giving is the process of making a significant charitable gift during a donor’s life or at death that is part of his or her financial or estate plan.” Planned gifts can make use of legal and tax strategies to realize your personal financial goals while creating a meaningful legacy, supporting an organization that you truly believe in. Gift planning is a win-win – a way for you to increase the impact of your gift to the financial benefit of you and your family while supporting a cause you care about.
We encourage you to speak with a professional advisor, such as an attorney, financial advisor or CPA, to explore your objectives and options to find the right planned giving vehicle for you.
A bequest, or gift through your will or other estate planning document, can support your estate tax or financial goals. Please include this language in your will to make a gift to the New Hampshire Humane Society:
"I give, devise, and bequeath (describe dollar amount, specific property to be given, or percentage of your residuary estate, to the New Hampshire Humane Society, a nonprofit organization, located at 1305 Meredith Center Road, Laconia NH 03246, to be used to be used by said organization to meet the immediate or future needs of the organization, as determined by its Board of Directors."
It is easy to change your life insurance beneficiary designation to the New Hampshire Humane Society, in whole, in part (as a percentage or a specific dollar amount), or as a contingent beneficiary should your primary beneficiary not survive you. You can also make an outright gift of an existing or new life insurance policy, by naming the New Hampshire Humane Society as the owner and beneficiary of a policy you currently hold or purchase for that specific purpose. You may receive a federal income tax charitable deduction and reduce your future estate tax liability. Payments on the premium of the policy is tax deductible as a charitable gift. When the original purpose of a life insurance policy no longer applies – such as educating children now grown or providing security for a mortgage now paid off – your policy can become a powerful and simple way to support the mission and work of the New Hampshire Humane Society.
401(k) and 403(b) plans, corporate pensions, IRA accounts and other tax qualified retirement plan instruments can be designated as charitable gifts by using a Beneficiary Designation Form resulting in significant tax savings for the plan owner. The New Hampshire Humane Society can be designated as the primary beneficiary, or partial (by percentage or specific dollar amount), or as the contingent beneficiary, should your primary beneficiary pre-decease you.
Congress has also reinstated a law that would allow you to make a tax-free gift from your individual account (IRA) as a “IRA charitable rollover,” this year and years into the future. This law allows individuals 70½ or older to transfer up to $100,00 from their individual retirement accounts directly to a qualified charitable organization, like the New Hampshire Humane Society, without being subject to income taxes on the distribution. This law applies only to IRAs and not to other types of retirement plans.
Outright Gifts of Appreciated Assets
You can make an outright gift of appreciated securities, cash or real estate. Your gift may provide ideal tax savings for you and sizeable gifts to the New Hampshire Humane Society. Securities and mutual funds that have increased in value and been held for more than one year are a popular asset to use when making a gift to the New Hampshire Humane Society – offering you the chance to support our mission while realizing important benefits yourself, like reducing or even eliminating federal capital gains taxes on the transfer. You may also be entitled to a federal income tax charitable deduction based on the fair market value of the asset at the time of transport. Securities can be transferred to the New Hampshire Humane Society as an outright gift; a transfer on death (TOD) account, or; as a bequest through your will or living trust. Consult your trusted financial planner to learn more about leaving the New Hampshire Humane Society a legacy through appreciated assets.
Endowments can be created or contributed to as a permanent investment in the future of the New Hampshire Humane Society.
Charitable Gift Annuity
Gift Annuities guarantee the donor interest payments on their donation. Under a contract, the donor can contribute funds or assets to the New Hampshire Humane Society, and in turn the organization makes fixed payments to the donor for the remainder of his/her lifetime. At the time of the donor’s death, the remaining balance goes to the New Hampshire Humane Society.
A Charitable Trust is a financial instrument by which a donor (grantor) can transfer assets into a trust designating the New Hampshire Hmane Society as the beneficiary. There are a variety of charitable trust vehicles all designed to be tax efficient ways to give.
Consult your trusted financial planner to learn more about creating a legacy to benefit the New Hampshire Humane Society.
Benefits That Work Both Ways
There are many options for planned giving that will maximize the benefits of a charitable gift through substantial tax and estate planning benefits. You may be able to increase your current income or provide additional retirement income while reducing income or estate taxes. At the same time, it allows you to make a lasting gift to the animals.
For more information please call 603-524-8236 x 301