What is Charitable Planned Giving?
Charitable planned giving refers to the process of making a charitable gift of estate asset(s) to a charity. You can give a gift during your life or through your estate. There are a number of different types of planned gifts and each provide certain benefits to the charity and the donor. We will briefly describe a few here. If you have questions or need help please call Robert Traub in our Development Office at (520) 795-8001.
Why should a donor make a planned gift?
- You can make a larger gift than you might think.
- You can protect some income
- You can have the opportunity to establish a living memorial for yourself or someone special to you.
- Can provide retirement income
- Reduce federal estate taxes and probate expenses
- The satisfaction of leaving a legacy
How does the Tucson Center for Women and Children benefit from your gift:
- You can provide a larger gift to help more people
- You can help the organization you support plan for the future
- Help us help more clients
- Allows us to secure a larger endowment to secure our future
- Provide the satisfaction of having helped others to effectively plan their estates
Types of Charitable Planned Gifts
- Bequest
A person could include a provision in his or her will or living trust to make a bequest to a charitable organization. That arrangement would be a "planned" gift. A gift in a will, codicil or trust could be of cash, securities, real estate or personal property, or as a percentage of the estate. If you currently have a will, you can add a gift through a will codicil.
- Gift Annuity
This is one of the most favortie planned gifts because it is relatively simple to understand and establish. It's an irrevocable transfer of cash or appreciated property to the TCWC and in return the donor receives a guaranteed lifetime annuity of a fixed amount each year of one or two lifetimes.
- Appreciated Property
A gift of securities, real or personal property, held long term which has increased in value since date of acquisition, given outright to the TCWC or as the funding asset for a lifetime income plan.
- Life Insurance
A person may wish to name TCWC as the beneficiary of an existing policy which is no longer needed for the donor's original purpose, or to purchase a new policy making the TCWC the owner or beneficiary.
Please note, some gifts require prior approval by our Board of Directors
How do you make a planned gift?
- A Codicil to modify an existing Will - This is a way to make an addtion or change to an existing will
- Bequest Provision - Creating a new will
- Creating a new document such as a trust or annuity
In the absence of a Will, the state will take control of your property and may not distribute it according to your wishes.
Legal Counsel should be consulted prior to drafting
or amending any instrument.
Sample wording you may consider:
Specific Bequest
"I hereby give and bequeath to the Tucson Centers for Women and Children, a non-profit Arizona corporation located at 2545 E. Adams St, Tucson, Arizona, 85716, Tax I.D. #86-0312162, the sum of $______ (or % of estate)."
For a gift other than cash (as in stocks, bonds, etc) simply describe the assets.
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