Planned Giving Opportunities for HHS

What is Planned Giving?

Planned giving is a way which you can give to HHS by including us in your overall estate and financial plan.  Depending on the type of planned giving strategy used, there could be immediate or future tax benefits for you.

What are some of the ways I can make a gift to HHS?

• Gifts of cash
• Gifts of Stock
• Will bequests/ Charitable Trusts
• Life Insurance Policy

FURTHER INFORMATION:

Gifts of Cash—Gifts of cash may provide an income tax deduction for the year in which the gift was given.

Gifts of Stock—Gifts of stock can be made in two ways.  You can either call your financial adviser and transfer shares of stock from your account to the HHS account, or you can give stock certificates.  You may receive a tax deduction for the full amount of the current value of the gift for the year the gift was given. If the stock has appreciated significantly, you will avoid paying the capital gain taxes due if you were to sell the stock.  Please call Christie at HHS for details on how to complete a transfer from your account or a gift of stock certificates.

Will Bequests—Bequests can be made in a new will. An existing will can also easily be amended to include a bequest to HHS.  An unrestricted bequest is one that allows HHS to direct your gift where it will have the greatest impact.  A restricted bequest allows you to designate what you would like the gift to be used for. 

Charitable  Trusts— There are a variety of charitable trust which allow you to retain income from investment property during your lifetime with HHS (or other charitable beneficiaries) receiving the principal at your death.  Conversely, you may give the income from a trust to HHS for a period of time and retain the right to dispose of the principal.  These may be structured in different ways to meet your particular needs.  You may avoid capital gains tax on the sale of the appreciated asset, and you may receive an immediate tax deduction for your gift to the trust. 

Life Insurance Policies—If you would like to give an insurance policy directly to HHS, and would like it to qualify as a gift with the IRS, you will need to make HHS the owner and the beneficiary of the policy.  You may receive an income tax deduction for the present value of the policy as well as any premiums you pay after the gift.  This is an extremely effective way to leverage your gift to HHS.  Depending on your individual situation, incorporating an irrevocable life insurance trust (ILIT) into your plan may also be beneficial. 

Please call Christie Chipps Peters, HHS Executive Director at 757-221-0910 or email at director@heritagehumanesociety.org for further interest in a planned gift.

*This document is not intended as legal or tax advice.  Please consult with your attorney, accountant or other tax advisor concerning your particular situation*