Did you know there are gifts you can make to The Idlewild Foundation that return payments to you, a life income? The tax code permits these plans and financial advisers and estate planning lawyers can tell you more and will agree.
One of the best ways to promote the Gospel is through The Idlewild Foundation and Idlewild Baptist Church. Do you want to give? Do you want to get a tax deduction? And at the same time, do you need income for your life and maybe also for the life of a loved one? Is the need for income and financial protection for yourself and your spouse holding you back? There are several types of gifts that allow a present deduction and that pay you a life income and can also pay income to another for life. These gifts allow you to make a substantial gift to The Idlewild Foundation but you keep the income during your life. There are several alternatives, each with different features and benefits.
There are other tax-wise ways to give. 80% of all giving is cash even though 90% of all assets are non-cash. Giving out of assets, especially highly appreciated assets, including real estate and stock, can offer benefits to both you and to The Idlewild Foundation. And you can simplify and improve your ability to donate by establishing a Donor Advised Fund, a giving fund, through the Idlewild Foundation. Donate and get your deduction whenever you want and give a grant from your giving fund later, even years later.
The Benefits to You Include:
• An additional source of lifetime income for you, your spouse, or others you designate.
• A potential increase in the income you can receive from your investments.
• You get an immediate tax deduction for a portion of your gift.
• There is no capital gains tax due at the transfer of appreciated assets.
Which Life-Income Gift Best Fits Your Needs?
There are multiple ways to structure a planned gift. Each has unique features and benefits. There are Charitable Gift Annuities, Charitable Remainder Unitrusts, Charitable Annuity Unitrusts, Charitable Lead Trusts and more.
• Charitable gift annuities make fixed payments, starting either when the gift is made or at a later date, providing a secure and stable income to the donor, spouse or designated beneficiary.
• Charitable remainder unitrusts and annuity trusts are individually managed trusts that pay the beneficiaries either a fixed percentage of trust income or a fixed dollar amount.
• Charitable lead trusts are designed to reduce beneficiaries’ taxable income by first donating a portion of the trust’s income to charities and then, after a specified period of time, transferring the remainder of the trust to the beneficiaries.
Important Related Topics:
See Planned Giving – A Blessing for All, Tax-Wise Charitable Giving, Asset Based Giving, The Really Smart Gift of Real Estate, Stop Writing Checks, and Ways to Give, IRS Charitable Rollovers.
Click here for language you can use in a will or trust to leave a bequest to serve God and the Gospel.