Planned Gift

In its purest form, gift planning is a contract that defines the gift and how, when, and upon what terms that gift will transfer from the donor to the charity. Whether it’s a gift annuity, a charitable trust, or more complex structure, it’s all about the donor’s intent to leave a legacy and structuring that intent while they are still living. A planned gift can be as simple as a bequest in a donor’s will. But gift planning offers much more than a will, a revocable living trust, or the common irrevocable trust that many donors have. Through the use of appropriate gift planning vehicles, donors can often realize substantial benefits while they are alive.

Legacy for Your Community

A Legacy gift is given to an organization through their will or another planned giving vehicle for so many different reasons. It could be to ensure their memory lives on or a way to give back to a charity or cause that is meaningful to them and to help them continue its important work.

A common myth is people think you have to be wealthy to make a legacy gift. This is not true. Anyone can arrange to leave a charitable gift from their estate, regardless of its size. It means a great deal to a charity and provides for the future to carry on the organization’s mission.

Help secure scholarships and provide the resources necessary to support the needs of the community college and its students through a charitable gift – we’re here to help with no-obligation information. What are the advantages? Tax savings, benefits, sharing your personal values and so much more.

Find the perfect gift that meets your financial needs and fulfills your charitable intentions:

• Bequest — A provision in a will or estate plan that allocates all or part of the individual’s estate to a designated charity.
• Charitable Remainder Trust — An irrevocable trust that pays a specified annual amount to one or more people for a fixed period of years (often the life of the individual). At the end of the term of the trust, the remaining trust assets are distributed to the charity. A charitable remainder annuity trust provides a fixed payment; a charitable remainder unitrust pays out a fixed percentage of the trust value each year.
• Charitable Lead Trust — Similar to a charitable remainder trust, but the principal reverts to the donor or his or her designated heirs at the end of the trust term. If the principal reverts to the donor, he or she gets a charitable income tax deduction; if an heir, that person gets a charitable gift tax deduction.
• Charitable Gift Annuity — An irrevocable transfer of property (e.g. securities) in exchange for a contract to pay the donor an annuity for life. Because the value of the property exceeds the value of the annuity, it is partially a gift to the institution.
• Life Insurance — An arrangement in which a donor gives a life insurance policy to the charity. The cash value of that gift is tax deductible, as are any future premiums the donor may opt to pay on that policy.
• Life Estate — An arrangement in which a donor gives her home to the nonprofit while retaining the right to live there for the remainder of her life. The donor receives an immediate income tax deduction. The charity may sell the property upon the donor’s death.
• Pooled Income Fund — An arrangement, similar to a mutual fund, in which a donor contributes to a fund and receives a share of the proceeds based on the percentage of his contribution. Donors pay no capital gains on the transfer of appreciated property. When the donor dies, his shares transfer to the charity.
• Gifts Through Your Will – Gifts through your will leave a specific dollar amount or percentage of your assets to the College that make a difference in the lives of our students and it will always continue.
• Gifts Outside Your Will – Gifts like a Charitable Lead Trust, Charitable Lead Annuity Trust, Bargain Sale and Retained Life Estate all avoid probate, as well as gifts of assets like appreciated securities, retirement plans, insurance policies and real estate, name LCCC as a beneficiary.
• Gifts That Pay You Back for Life – Gifts like a Charitable Remainder Trust and Charitable Gift Annuities will give you fixed payments back for your lifetime, income and estate tax saving benefits and probate expenses.
• Memorial Gifts – Remember loved ones with memorial gifts. A memorial gift is any type of gift given to remember a close friend or family member who has passed.

A gift in your will shows that you value the organization for its mission and good work. A legacy gift helps the organization continue the work it is doing and ensures sustainability of core education programs and mentorship for the future.

Your financial planner, lawyer, accountant, or insurance agent can help you leave a gift. These allied professionals can inform about the best gift vehicle and tax benefits of legacy gifts. To learn more about making a gift in your will or living trust that will change lives for years to come, please contact the Foundation Office at 610-799-1711 or foundation@applegatearchitects.com.