There are several types of Planned Gifts. Listed here are the basic types with a short explanation. If you would like to discuss any of these in more detail, please contact us.
A bequest through a will or trust is the most common type of planned gift. Almost every adult should have a will and every Christian should consider making gifts to their church, ministries and charities through their estate. A gift through a will can be a specified dollar amount or a percentage of the estate. Any gift through a will to a qualified charity is deductible for Federal Estate Tax purposes.
Life Insurance Gifts
This gift option is available for both new and existing policies. If done properly, the annual premium paid on the policy can be deducted as a charitable gift for income tax purposes. You can also encourage policy owners to add their church or other ministry as one of the beneficiaries of an existing policy.
Charitable Gift Annuities / Deferred Gift Annuity Agreement
A gift annuity is an irrevocable contract between you, as the donor, and the charity. In exchange for your contribution, the charity will make guaranteed payments as indicated in your agreement to the named annuitant or annuitants for life. The right to receive annuity payments cannot be assigned to any person or entity (other than the charity).
Charitable Remainder Unitrust (CRUT)
A CRUT is designed for the person who wants to make a gift to the Lord’s work, but needs income during life. This trust is especially beneficial for a person with highly appreciated securities or real estate. The owner can transfer the property to the trust and avoid all tax on the capital gain. A charitable tax deduction is available for the year the trust is created. One or more Christian organizations can be named as the remainder beneficiaries of the trust. The CRUT is one of the most complicated gift plans, and requires professionals to set up and manage. We can assist you with this.