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Charitable gifts help you meet your current philanthropic goals and extend your generosity well into the future. But did you know that a planned gift can also protect your assets, provide for your family, and guarantee you income for life? You can even make a significant impact through a gift that costs nothing in your lifetime (through a charitable bequest under your will).
To read about one of the basic ways to make a planned gift, select the one below that best fits your situation:
Make a gift that costs nothing now.
An estate note is an irrevocable pledge or debt against the donor’s estate
A gift of cash is easy to make.
Smart gift planning combines charitable intent with cost-efficient planning techniques.
How It Works
Consider retirement-plan benefits for a significant gift to SFI.
(Retirement plan information – 3 sections above – during life, death and over 70½ )
Life insurance may fund a gift or replace the value of a gifted asset.
An important but frequently overlooked role of life insurance is the one it can play in charitable gift planning. Life insurance itself can be the direct funding medium for a gift, permitting the donor to make a substantial gift (face value of policy) for a relatively modest annual outlay (i.e., the premium payment).
Life insurance can also be used to replace an asset that has been given to BMC. How it works: After a donor makes a gift to BMC, the tax savings produced by the charitable deduction are used by his or her children or an irrevocable trust to purchase and pay the premiums on a life insurance policy on the donor’s life. Such an arrangement can ensure that the interests of family beneficiaries will not be adversely affected.
Tangible property contributions provide charitable deductions based on a standard of “related use.”
Business owners contributing closely held stock are allowed a charitable deduction.