Other Ways to Give Smarter
Make a cash gift to Guild in your will or living trust by bequesting a specific amount or a percentage of your estate. This both a simple and popular method for remembering Guild. If you already have a valid, up-to-date will, your attorney can add Guild as a beneficiary through a simple amendment to your will called a codicil. Learn more.
Whole life, universal, and other forms of permanent life insurance policies can provide an important planned gift for Guild’s future. You can contribute all or part of an insurance policy by making Guild a beneficiary of the policy. To make Guild a beneficiary complete and return a form provided by your plan administrator.
One of the simplest and most “tax-wise” ways to make a gift to Guild is through a beneficiary designation in your IRA, 401(k), 403(b), or other retirement plan. Because retirement plans at final distribution may incur considerable taxation to your estate and heirs, a gift of these assets may be one of the lowest cost ways to provide critical support for Guild’s work. Through your plan provider, you have the option of naming Guild as a primary or contingent beneficiary of your retirement plan and designating either a stated percentage or dollar amount.
Charitable Gift Annuities
A charitable gift annuity (currently available for gifts of $10,000 or more) provides you with a guaranteed fixed income for life in exchange for your irrevocable contribution, which may be in the form of cash and/or appreciated securities. Annuities also may be set up for the benefit of a loved one.
Charitable Remainder Trusts
With the assistance of an attorney, you can establish an irrevocable trust naming yourself, another individual, or a bank as trustee. You may transfer cash, securities, or other property to the trust. The trust then pays income to you and/or other beneficiaries for life or a term of up to 20 years at a certain percentage or dollar amount as determined when the trust is established. When the trust’s term is concluded, the remainder is distributed to Guild. The income and estate tax advantages of a charitable remainder trust can be significant.
Guild welcomes gifts of real estate, including a personal residence, vacation home, farm, commercial property, or undeveloped land and valued at $250K and over.
A few things you should know before making a gift of real estate:
- In general, it is Guild’s policy to sell gifted property rather than maintain or manage it.
- Before accepting any gift of real estate, a Guild representative must inspect the property to determine whether it can be sold within a reasonable amount of time and to ensure that there are no significant liabilities associated with it.
- Due to tax issues, debt-encumbered property is usually not appropriate for a charitable gift of real estate.
When considering gift planning strategies, we always recommend consulting with your financial, legal, and tax advisors as part of the decision process.