|
You can make a charitable gift to San Diego Human Dignity Foundation by naming us as a beneficiary in your will. The federal government encourages these gifts or bequests, by allowing an unlimited estate tax charitable deduction.
Wills/ Bequests
There are three ways you can make a bequest:
| Specific Bequest |
You designate a specific dollar amount, specific percentage, or specific property to San Diego Human Dignity Foundation.
|
| Residual Bequest |
Your estate will pay all debts, taxes, expenses, and specific bequests. The remaining amount-the residue-will be transferred to San Diego Human Dignity Foundation.
|
| Contingent Bequest |
You can ask that the San Diego Human Dignity Foundation receive all or a portion of your estate only under certain circumstances. For example, you can name the Foundation as a beneficiary of your estate only if there are no surviving partners or close family members.
|
If you are a planned gift donor, the San Diego Human Dignity Foundation
will honor you with membership in the Legacy Society.
If you have already made a plan to give to the San Diego Human
Dignity Foundation in your will or estate plan, please contact
us. We realize that with your special gift, you consider us to
be part of your family, and we want to do our best to keep you
informed as to how your gift will be used and to give you the opportunity
to tell us of your wishes.
Also, in recognition of donor generosity, SDHDF has established
a Donor Benefit Program. We would be happy to review any aspect
of this program with you at length. Call (619) 236-1257 or email
us at info@sdhdf.org and our Executive Director or a member of
our Board will contact you immediately.
Trusts
Charitable Remainder Trusts
A charitable remainder trust can be a powerful planning tool enabling
you to maximize your assets, capture and control your social capital
and leave a legacy to your heirs and your community. Social capital
is that portion of your income and accumulated wealth that will
be used to provide for the needs of your community and which is
normally taken from you in the form of taxes unless you plan properly.
Consult with San Diego Human Dignity Foundation and/or your tax
and legal advisors to see if this type of trust is an appropriate
vehicle for you.
- What is it? It is a written, irrevocable commitment
to contribute assets to a charity while retaining the rights
to receive lifetime income benefits from the assets and the investment
of the assets.
- Who can benefit by using it? Almost everyone can
use this planning tool effectively. The ideas that this type of
trust is only for the wealthy, only for older people, too difficult
to implement or only for the charitably inclined are simply not
true. Today, even a $2000.00 gift can be economically feasible
under some circumstances.
- How does it affect my social capital? It enables
you to retain dollars that would be lost in taxes and put them
to work to benefit you and your family. It also allows you to redirect
the retained dollars to the social, religious, community and cultural
causes that you choose to ultimately benefit.
- Who can receive the income stream from it? You
can receive the money during your life or you can designate another
individual to receive the income. During your life, the income
stream can also be directed to another trust or an estate, partnership,
association, company or corporation.
- How does it advance philanthropy in my community?
Upon your death, it normally terminates and all of the assets in
it are transferred to your selected charitable organization(s),
such as perhaps, the San Diego Human Dignity Foundation. If you
choose, it can remain in existence and hold the assets for your
selected charitable organization(s) and transfer the income instead.
However, if you choose this option, it converts to a private foundation
with all of the attendant difficulties.
- Is it subject to taxes? It is exempt from all
taxes unless it has unrelated business taxable income.
What are the tax consequences for setting this up? When you transfer
asset(s) to it, you receive an income tax deduction or corresponding
estate tax deduction equal to the present value of the remainder
interest intended for the selected charitable organization(s).
As long as the income stream is returned to you or your spouse/partner
or a charity of your choice after the transfer of the assets, there
is no gift tax due on the income stream. Capital gains tax can
be avoided if you transfer appreciated personal property or if
it sells the appreciated personal property. You will have to pay
income tax on the retained income stream.
Whatever your planned giving needs may be, San Diego Human Dignity
Foundation is here to assist you in any way. Contact
us today. Give a gift that will give forever.
|
