Planned Giving, Gift of a Lifetime

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Planned Giving - Examples and Articles RSS Feed
Life Insurance
6/4/2013

Goal: Make a large gift with little cost to you
Benefit: Current and possibly future income tax deductions

There are several ways you can use life insurance as the basis for a charitable gift.

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Real Estate
6/4/2013

Goal: Avoid capital gains tax on the sale of a home or other real estate
Benefit: A charitable tax deduction and potential diversification with the possibility of reducing or eliminating capital gains tax

Eileen and her husband, Paul, enjoyed their house. They had raised
their three children there and had many family memories. But after Paul
passed away suddenly, Eileen began to find that the old house was a
burden. Without Paul to take care of things and with their children
involved in their own families miles away, it seemed that the house was
too big, too old and even a bit lonely.

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Appreciated Stock
6/4/2013

Goal: Avoid capital gains tax on securities sale
Benefit: No capital gains tax and charitable deduction based on fair market value

The gift of an appreciated asset, often common stock or mutual fund
shares, is a valuable way to make a contribution to a charitable
organization and receive tax benefits based on the value of the
asset(s).

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Retirement Assets
6/4/2013

Goal: Avoid the twofold taxation on assets in an IRA or other employee benefit plans
Benefit: Provides the opportunity to leave your family other assets that carry less tax liability

Contributions to retirement plans can provide an excellent
opportunity for growth as they are invested tax-free. The earnings are
taxed when they are withdrawn, but this has allowed more dollars to be
invested for more growth. Additional savings can occur if the recipient
is in a lower tax bracket when the funds are withdrawn (for example,
during retirement) than when the investments were growing.

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Bargain Sales
6/4/2013

Goal: Reduce capital gains on appreciated property
Benefit: Cash to pay off mortgage or other loans and charitable tax deduction for the gift portion

A bargain sale occurs when a donor sells property to
SAT-7 for less than the property's fair market value. The amount of fair
market value over the sales price is the donor's charitable
contribution, which is the gift portion. The charitable tax deduction
may be reduced by allocation of tax basis and reduction rules relating
to unrealized gain. Almost any type of asset may be sold in a bargain
sale, depending on the cash available for purchase and the suitability
of the asset.

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Charitable Lead Trusts
6/4/2013

Goal: Pass assets to heirs at potential tax savings
Benefit: Charitable tax deduction, favorable estate tax circumstances

Phil and Alicia had a successful business developing both residential
and commercial real estate. They realized that their assets provided
more income than they need for their family's current living expenses;
however they wanted to maintain their assets to ensure their
grandchildren would have resources for college educations.

 

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Charitable Remainder Trusts
6/4/2013

Goal: Secure payments for life while reducing market risks
Benefit: Potential increased income and tax benefits

Susan and Fred know what hard work is all about. And they have the rewards as a result.

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Charitable Gift Annuities
6/4/2013

Goal: Receive guaranteed fixed income that is partially tax-free
Benefit: Current and future savings on income taxes, plus fixed, stable payments

Joyce and Burton had been married for forty-seven years. Not long
before he passed away, Burton looked into converting some of their
certificates of deposit into a charitable gift annuity. He and Joyce met
with their advisors and found out it was a wonderful idea.

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Bequests in Wills and Trust
6/4/2013

Goal: Defer a gift until after your lifetime
Benefit: Your donations are fully exempt from federal estate tax and you retain control of your assets

David and Ann established a fund that would help certain ministries meet
some of their expenses. They had initially made an outright gift of
some appreciated stock, taking advantage of the tax benefits, and later changed their will to include a bequest that will magnify the fund tenfold.

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For additional information or a confidential discussion of your charitable options, please email or call the Vice President for Finance and Administration, Ruth Thomas, at 410-770-9804 or toll-free 1-866-744-SAT7 (7287).

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Give with confidence! All donations to SAT-7 are tax-deductible. We are a 501(c) (3) non-profit organization and a member of the Evangelical Council for Financial Accountability. Please note, individual financial circumstances will vary. The information on this site does not constitute legal or tax advice. Donor stories and photographs are for purposes of illustration only. As with all tax and estate planning, please consult your attorney or estate specialist. All material is copyrighted and is for viewing purposes only. Use of this site signifies your agreement with the terms of use. The content in this Legacy Giving section has been developed for SAT-7 by Future Focus. Please report any problems to section webmaster.

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