At The Salvation Army, the Planned Giving Department is here to help you, your family and your community by working out ways to use your personal assets as a tool for Doing The Most Good. Our staff will work with you personally to explain the different options and plans that are right for you. Not only will these options be beneficial to you, but they will be beneficial to those who are in need in the world.
So what are the Advantages of Planned Giving?
- You support programs and services consistent with your ideals.
- Lifetime income with no management worries or fear about the stability of the organization.
- Protection for your loved ones through income after your death.
- Larger gifts are possible than by any other means.
- Income tax savings through present charitable deductions.
- Lower estate tax for your spouse and other heirs.
- Preferential treatment of capital gains tax that you would incur if you had sold your property.
- Control of the distribution of your estate at your death.
Which plan is right for you?
Transfer cash, securities or other property into an irrevocable trust and direct that a fixed annual dollar amount be paid to you for as long as you live. At your death, the same amount can be paid to any surviving beneficiary you name for as long as they live. The principal cannot be used by The Salvation Army until these conditions are satisfied.
Similar to an annuity trust, except the income paid to you is variable. Instead of a fixed dollar amount, the trust agreement specifies a percentage of the trust's fair market value as determined each year, and that is the amount paid to you.
Revocable Living Trust
Allows you to revoke the trust in case of an emergency or personal desire. Experience shows that few people revoke the fund. You may set up an income payment schedule as well as invade principal as needed. After the death of all income beneficiaries, any unused principal and income becomes a gift to The Salvation Army and/or other remainder persons.
Pooled Income Fund
Your assets are pooled into a commingled fund. On the date your gift enters the fund, it is assigned a number of units proportional to its fair market value. The value of a unit will rise and fall with the market value of the fund's assets. Your income depends on how many units you hold and how much the fund earned during the year.
Charitable Gift Annuity
You donate money or securities as a gift-investment. The Salvation Army agrees to pay you and/or a loved one a fixed dollar amount for life. The amount you receive is determined by the size of the gift, your age and the age of any other beneficiary.
Gifts of Life Insurance
The Salvation Army is named owner and/or beneficiary if an existing policy is no longer needed. It is an opportunity to make a contribution more substantial than might otherwise be possible.
Wills and Bequests
Essential to good estate planning, a will allows you to decide how your assets will be distributed after your death. A will also can reduce estate taxes, leaving as much of your estate as possible intact. Legal documents such as Wills should always be prepared by attorneys.
Gifts of Real Estate
A personal residence, farm, unimproved land, rental property or commercial property can be given to The Salvation Army outright, to fund charitable remainder unitrust or under a life estate agreement.
For more information, please contact The Salvation Army at (262) 547-7367.