Planned Giving Options
Members may want to consider a planned or deferred gift. Planned giving is a meaningful way to support Westminster's Endowment, and it offers the donor a wide range of giving options with differing tax benefits.
Securities - Donors may find that they can realize substantial tax advantages by making gifts of appreciated stock and bonds. In these cases, the tax liability on the appreciated value of the securities may be avoided while the donor may receive a charitable deduction for the full market value.
Tax Deferred Asset (Including IRA's and 401 (k) plans) - These assets are often an ideal choice for a charitable bequest because of the possibility of avoiding substantial deferred income tax liability that would have been triggered in the year of the donor's death.
Real Estate - A gift of real estate, including farmland, is one of the most convenient ways to make a substantial gift to the church. The donor may bypass taxable capital gains on the appreciated value of the property, and can receive an immediate tax deduction.
Bequest - The most common endowment gift is the bequest, which is conveyed through one's will. It can take the form of cash, securities, real estate, or other property. It may be a specific dollar amount or a percentage of one's estate.
Life Insurance - There are many creative ways that life insurance can be used to make a gift, all of which can provide tax deductions and may enable the donor to make a larger gift than might otherwise be possible.
Charitable Gift Annuity - With this option, the gift is invested and the donor receives a guaranteed payment for life. The payment's interest rate is based on the donor's age at the time of the gift.
Charitable Remainder Trust - This type of gift is invested, and the donor receives a return on the fair market value.
Charitable Lead Trust - This gift structure transfers assets to a trust that provides income to the church for a set period of years. At the end of that period, ownership of the assets reverts either to the donor or to another party designated by the donor.
Life Estate Contract - This is an agreement established by the donor which deeds ownership of the real estate to the church, allowing the donor to live on or use the property for life.
Because of the tax implications of deferred giving, any individual interested in donating to the Endowment Fund is advised to consult his/her attorney or financial advisor before finalizing a gift.
Securities - Donors may find that they can realize substantial tax advantages by making gifts of appreciated stock and bonds. In these cases, the tax liability on the appreciated value of the securities may be avoided while the donor may receive a charitable deduction for the full market value.
Tax Deferred Asset (Including IRA's and 401 (k) plans) - These assets are often an ideal choice for a charitable bequest because of the possibility of avoiding substantial deferred income tax liability that would have been triggered in the year of the donor's death.
Real Estate - A gift of real estate, including farmland, is one of the most convenient ways to make a substantial gift to the church. The donor may bypass taxable capital gains on the appreciated value of the property, and can receive an immediate tax deduction.
Bequest - The most common endowment gift is the bequest, which is conveyed through one's will. It can take the form of cash, securities, real estate, or other property. It may be a specific dollar amount or a percentage of one's estate.
Life Insurance - There are many creative ways that life insurance can be used to make a gift, all of which can provide tax deductions and may enable the donor to make a larger gift than might otherwise be possible.
Charitable Gift Annuity - With this option, the gift is invested and the donor receives a guaranteed payment for life. The payment's interest rate is based on the donor's age at the time of the gift.
Charitable Remainder Trust - This type of gift is invested, and the donor receives a return on the fair market value.
Charitable Lead Trust - This gift structure transfers assets to a trust that provides income to the church for a set period of years. At the end of that period, ownership of the assets reverts either to the donor or to another party designated by the donor.
Life Estate Contract - This is an agreement established by the donor which deeds ownership of the real estate to the church, allowing the donor to live on or use the property for life.
Because of the tax implications of deferred giving, any individual interested in donating to the Endowment Fund is advised to consult his/her attorney or financial advisor before finalizing a gift.