You have the opportunity to support the community by including your local United Way in your planned giving. Planned giving is a great way to benefit charitable causes while still leaving sufficient funds for loved ones. Whether donated through wills, trusts, investments, property, life insurance, retirement plans, or more, planned giving is an opportunity to provide for your loved ones, fulfill your charitable goals, and save money on taxes. If you have questions or wish to proceed with a gift, United Way of Larimer County is here to help. Please contact Keely Aggers at 970-407-7007 to learn how to schedule a private consultation.
The most important things you need to know about planned giving are the options before you and the benefits of each. While all methods are excellent opportunities to give to your community and receive tax benefits, certain avenues will better serve some of you than others.
Regardless of your background or estate, it is highly recommended that you draft a will. The construction of a will can have a significant impact on taxation, donating, and passing funds to loved ones. A will is the best place to include information about planned giving and distribution of your estate.
While charitable gifts can be made directly through payments or your will, there are many other options. Several different options for planned giving are listed below. If these gift planning options interest you, please discuss them with your professional advisors.
Bequests by Will are the most popular means of gift planning. Reduce estate taxes by designating a certain amount or a percentage of your estate to United Way.
Gifts of Stocks, Bonds and Mutual Funds that have appreciated in value and are owned for more than one year can result in triple tax savings through state and federal income tax opportunities and can bypass capital gains taxes.
Gifts of Real Estate offer a double tax savings. Receive a charitable income tax deduction for full market value and you will avoid capital gains tax.
Retirement Plan Assets such as IRAs and pensions or profit sharing plans are subject to more than just estate taxes at the time of your death. Prevent double taxation for you and your heirs with a charitable gift of retirement assets.
Charitable Remainder Trusts allow you to retain income interest and give the remainder to charity. Receive a charitable income tax deduction and avoid capital gains tax and estate taxes, while the trust accumulates tax-free to benefit United Way of Larimer County.
Charitable Gift Annuities provide a lasting income plan. Assets are transferred to United Way of Larimer County with the agreement that a fixed rate of return will be paid to named beneficiaries for life.
Charitable Lead Trusts offer a tax-efficient way to transfer wealth and property from one generation to the next while making a significant charitable contribution. They provide United Way with an income stream for a period of years and then pass underlying assets on to your beneficiaries.
Life Insurance policies that are paid up may result in significant tax savings. If you name United Way of Larimer County as the beneficiary and owner of the policy, future premium payments may be tax deductible. United Way of Larimer County may also be named as partial or secondary beneficiary.
In addition to these methods of giving, one may also choose to donate to the Legacy of Caring Endowment Fund. By donating to this fund, you leave a gift of lasting significance that continually supports the community and never depreciates. For more information about this option, please visit the Legacy of Caring Endowment Fund page.
The National United Way website has detailed information about planned giving, donor stories, planning information and a giving calculator. www.liveunited.org
No matter how small your gift or estate, your donation can make a significant impact on your community.
Your annual gift changes lives today.
Your planned gift changes lives tomorrow.
Your gift to the Legacy of Caring Fund changes lives forever.
Disclaimer: United Way of Larimer County does not provide tax advice. Always consult your tax advisor.
