Giving Later:
Planned and Estate Gifts that can create or add to an endowed fund.
Life Income Gifts
Charitable Gift Annuities (CGAs) and Charitable Trusts can provide both an income and tax benefit. CGAs provide an annual annuity payment based upon the age of the donor(s). Charitable Trusts may be created to provide income to the donor, charity, or other beneficiary. These types of planned gifts are often tailored to suit the particular needs and desires of the donor. Please contact Donna Schuck, Director of Development, at 570.752.3930 or by e-mail at dschuck@csgiving.org.
Naming the Foundation in your will or living trust is a popular way to support the community. A charitable bequest can be a specific dollar amount, a percentage of your estate, or what remains after other bequests including those to family members are made. Or, your will can specify that your heirs will receive lifetime income from your estate, with the remainder going to the Foundation for charitable purposes. If you choose, the bequest can flow into a donor-advised fund for your children to carry on your family’s philanthropy.
Retirement Plan Assets
For a gift through your estate, retirement plan assets are often the best to give because they are so heavily taxed if left to heirs. Income and estate taxes can easily consume over 65% of the account balance at death. By naming the Foundation as the remainder beneficiary of these assets, you can leave a very efficient legacy.
Life Insurance
For those whose need for life insurance has decreased, making a gift of an unneeded policy can be a convenient and effective way of meeting your charitable goals. When you transfer ownership of a cash value policy to the Central Susquehanna Community Foundation, you become eligible for a charitable tax deduction based on its current value. A gift of life insurance can also be a part of your estate planning.
To learn more about establishing a fund at the Central Susquehanna Community Foundation, contact Donna Schuck, at dschuck@csgiving.org, or call the foundation office at 1.866.454.6692.
Planned giving can be an important component of your estate plan. The information on this site is not intended as legal, tax or investment advice. Please consult an attorney, tax professional, or investment professional.