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Gifts at No Current Cost
You may make some gifts without experiencing any change in your life style. For example, you can make the Upland Community Foundation a beneficiary in your: - Will - Retirement Plan - Living Trust - Life Insurance
Stock Gifts
While Gifts of cash are most welcome, giving appreciated stock results in more benefits for you. Not only do you receive an income tax charitable deduction but a bypass of the capital gains tax as well. Example: The stock that cost you $5,000 ten years ago is now valued at $10,000. Giving that stock to the Upland Community Foundation is deductible at $10,000 or 50% of AGI, and you pay no tax on the $5,000 gain.
Deferred Gifts
The term “planned giving” describes the many ways those individuals can make charitable gifts beyond which they can give on an outright basis. With careful planning, one often can make a much more substantial gift than previously imagined. Such a legacy can make a significant difference for the citizens of Upland for good, forever.
Gifts In Your Will
You can name the Upland Community Foundation in your will, making us a direct or contingent beneficiary of: - A Specific Sum - A Percentage of the Estate - The Residue of the Estate If you have an existing will, you need not create a new one. Have our attorney add a codicil including the Upland Community Foundation.
Gifts in a Retirement Plan
The tax consequences of transferring remaining assets in qualified plans (IRA’s, 401k’s, SEPs, etc.) to anyone other than your spouse can be extremely costly. It is possible that more than 80% of each do9llar may be consumed in taxes. If you make the Upland community Foundation the successor beneficiary of your spouse in the plan, the Foundation will receive the remaining assets. The size of your estate is reduced and your family receives a larger legacy.
Gifts that Transfer Wealth
You make a gift and pass assets to your family with greatly reduced estate and gift taxes by using a Charitable Lead Trust. Assets are transferred to a trust tat pays income to the Upland Community Foundation for a term of years. The assets at the end of the term wil then pass to your family.
Gifts with your Home
You may make a gift, receive a tax deduction and continue to live in your home with a Life Estate Reserved. You deed your home to the Upland Community Foundation with an agreement that you reside in your home, continue to maintain it, pay the property taxes, etc. The Foundation does not assume total ownership until after your lifetime. In this arrangement you may receive an income tax deduction.
Gifts that Return Income
You may make a gift, receive a tax deduction, a bypass of capital gains, estate tax benefits and an income with a gift to a: - Charitable Gift Annuity - Charitable Remainder Annuity Trust - Charitable Remainder Unitrust The income may be for your lifetime, yours and your spouse’s, or someone you designate.