Remember the CHO in your estate planning!
Making a planned gift is not just for those who have wealth or special financial expertise, but for anyone with a generous spirit. Whether you are thinking about establishing an endowment or providing for a gift in your will, your generosity will have leave a lasting legacy that will serve future generations of this town we love. These gifts can offer significant tax benefits to you or to your estate, while also providing critical support to the CHO.
There are many ways to give that will benefit the CHO while providing special advantages to you and your loved ones. Everyone’s goals are different, and we are ready to work with you and your financial planner to make sure that you feel confident in your decision.
Planned Giving options include:
The simplest and most common way to make a planned gift to the CHO is through your will. By remembering the CHO in your estate plans, you can make a lasting contribution to a public organization that enlightens and engages the people of Orleans and ensure that this treasured institution can continue to serve the community. Bequest gifts may be in the form of cash, stock, retirement funds, life insurance, real estate, or other property, and they are tax-deductible for federal estate tax purposes.
A Charitable Gift Annuity
Charitable gift annuities provide beneficiaries with a fixed income for life in exchange for a gift of cash or marketable securities to the CHO. The rates of return are generally higher than those from savings or money market accounts, and you can choose whether to receive income immediately or wait until retirement.
A Charitable Lead Trust
If you have substantial assets which you would like to transfer to your children, grandchildren or others, a Charitable Lead Trust is an excellent means of making a gift to the CHO while reducing gift or estate taxes. This type of trust pays an annual amount to the Society, with the assets ultimately passing on to another beneficiary. You can decide whether to receive an income tax deduction or pass savings on to your estate.
A Charitable Remainder Trust
Contribute to the future of the CHO, secure lifetime annual payments for yourself and/or other beneficiaries, and generate substantial tax benefits with a charitable remainder trust. A trust of this kind provides beneficiaries with income for life or a specified length of time and then distributes the remaining assets to the CHO. An income tax deduction is available immediately.
Retirement Plan Assets
You can designate the CHO as direct beneficiary of all or part of your IRA or other retirement plans, and 100% of the funds will go toward furthering our mission. This allows you to fulfill your charitable objectives while preserving more of your estate’s value for family members. Designating the CHO as the beneficiary of your retirement account may help your estate bypass multi-tier tax exposures, preserve the value of your estate, and protect your heirs from potential tax burdens.
Giving a life insurance policy is a great way to transform a modest gift into a dramatic one. You can transfer ownership of a fully paid policy to the CHO, reassign ownership and beneficiary status for a policy on which premiums are still being paid, or establish a new policy and designate the CHO as applicant, owner, and beneficiary.
For more information on how you may support the CHO by making a planned gift, please contact us at email@example.com. And if you have already included the CHO in your financial and/or estate plans, please let us know so that we may express our gratitude for your foresight and generosity.