An Enduring Commitment to the Security of our Nation
The Stanley A. Weiss Legacy Society
OPPORTUNITIES TO PRESERVE YOUR LEGACY
There are a multitude of ways you can support BENS with creative planned gifts that reduce the tax burden on you and your heirs; provide for those who mean the most to you; and/or furnish you or others with an attractive income stream. The following examples demonstrate some of the ways to give – and to save.
Deferred Planned Gifts
- BEQUEST. One simple way to make a legacy gift is to include a contribution to BENS in your will or living trust. This could be a specific asset, a designated dollar amount, a percentage of what remains in your estate upon your death, or contingent on other factors that are important to you. Bequests can be changed at any time and can be easily added to your existing will through a codicil.
- TESTAMENTARY PLEDGE. You may make a written pledge of support to BENS and execute an estate note to pay off that pledge from estate assets in the event it is not fully paid at the time of your death or the death of your surviving spouse.
- LIFE INSURANCE. Through the donation of a policy you currently own but no longer need or the purchase of a new policy, the gift of life insurance can provide a significant benefit to both you and BENS. Naming BENS as a beneficiary (or contingent beneficiary) or designating BENS as both owner and beneficiary of a life insurance policy may qualify for estate and/or income tax deductions.
- RETIREMENT PLAN ASSETS. By naming BENS as an ultimate beneficiary of your IRA, 401(K) or other qualified retirement plan, you can make a future gift while continuing to make required withdrawals during your lifetime. Remaining assets will then pass tax-free to BENS. If you are 70.5 years or older, you may also donate your required minimum distribution to BENS for up to $100,000 per person or $200,000 per couple.
- DONOR-ADVISED FUND. Donor-Advised Funds, sometimes likened to a “charitable savings accounts,” give you flexibility to recommend how much and how often your money is granted to designated charities. If you have an existing DAF, consider naming BENS as the ultimate beneficiary.
Gifts That Produce Income
- CHARITABLE REMAINDER TRUSTS. A Charitable Remainder Trust provides you or other named beneficiaries with income each year for life or a period not to exceed 20 years. They can be structured to pay either fixed or variable amounts. BENS would receive the remaining balance upon the Trust’s termination.
- CHARITABLE GIFT ANNUITIES. A Charitable Gift Annuity is a contract through which you make a gift of at least $10,000 to BENS, and in return, BENS makes fixed payments to you (or another individual) for life. At the end of the Gift Annuity contract, the funds are used by BENS for one or more purposes agreed upon at its creation.
- CHARITABLE LEAD TRUST. A Charitable Lead Trust involves the transfer of cash or property to a trust which pays income to BENS for a term of years, following which the Trust’s balance would pass to you or another non-BENS beneficiary. The income payments can be structured to pay either fixed or variable amounts.
Gifts Of Personal Property
- REAL ESTATE. Real estate gifts offer a number of ways to support BENS, including but not limited to: deeding all or a portion of a piece of property to BENS before entertaining purchase offers; using debt-free property to fund a Charitable Reminder Trust; or transferring a home or farm to BENS now, while retaining lifetime use of the property.
- STOCK AND APPRECIATED ASSETS. The current fair market value of gifts of art, personal collections, private or corporate stock, appreciated securities, cryptocurrency, royalties and many other marketable assets, is deductible as a charitable donation and may offer additional capital gains tax advantages as well.
Gifts With Naming Rights
- Select irrevocable gifts to BENS may offer naming opportunities for research positions, fellowships, internships, or programming, should a donor wish to accept them. BENS leadership and staff will work with you to determine the details so that your legacy can be shared with all.
Only your attorney, accountant, or financial adviser can guide you in making decisions regarding which giving vehicle(s) are most beneficial for your personal financial and estate planning situations. But please know that no matter how you want to give or what you are able to commit, BENS staff stands ready to partner with you and your professional advisory team to achieve your personal goals and maximize your impact for BENS and the future security of our Nation. Please contact Debbie McCarthy at email@example.com to begin the conversation today!