Innovative Charitable Options
When you take stock of your financial assets you may be surprised at how much you’ve accumulated. Once you added your home equity, retirement, bank and investment accounts together, it may be a number that surprises you, pleasantly! Making a gift to Casa Marianella at your passing will allow you to leave an eternal legacy and even reduce your taxes!
Retirements Accounts, Life Insurance and Annuities
Do you know who you’ve named as your primary beneficiary on your IRA or 401k?
How about your contingent (secondary) beneficiary? You should double check!
Retirement accounts are tax-deferred; you don’t pay the taxes until you withdraw the money.
Annuities work in a similar fashion.
Life Insurance is income tax free.
All of these may also be subject to estate taxes if your estate is large enough at your death.
None of these assets flow through your Will or Living Trust, they go directly to your beneficiary.
Please consider naming us, as your primary or contingent (secondary) beneficiary on your retirement accounts, life insurance (even the group life insurance you get at work) and any annuities you may have. By naming Casa Marianella, as your beneficiary, you control and spend it through your lifetime. You can even name several beneficiaries by stating a percentage amount. Because these accounts each have separate beneficiary forms, you will need to use the form provided by that institution, many of which allow you to make these adjustments on-line, or through your HR Department.
When you pass away, we’ll receive the amount you’ve specified completely tax free.
Primary Beneficiary: Casa Marianella ( ___ %)
– OR –
Contingent Beneficiary: Casa Marianella ( ___ %)
And your gift will help our mission for many years to come!
Wills and Living Trusts
Whether you use an attorney or a computer generated services like Legal Zoom to prepare your Will or Living Trust, and naming Casa Marianella, your gift of any amount or percentage helps support our mission far into the future.
Charitable gifts must be made from your estate or living trust with specific language. Here is the suggested bequest language:
“I give and bequeath to Casa Marianella ($ ___ or _____ %)
Gifts of Stock
You can also give us stock directly. Your financial advisor can help you with this, and you can avoid paying unnecessary taxes too.
Bank and Investment Accounts
You can also transfer your bank, credit union and regular (Non-IRA) account to us. You can do this by putting a POD (Payable on Death) or TOD (Transfer on Death) designation to those accounts to Casa Marianella. Ask you financial institution for assistance with this. They will be happy to help, and we’ll be happy for the help!
Gift of Real Estate
With a gift of real estate to Casa Marianella, you can further our mission and lower taxes too!
You can even donate your house to us now, live there the rest of your life and receive a large income tax deduction now.
Before you begin the process of donating real estate, please contact us to make sure we will be able to accept your generous gift.
Gift Annuities and Charitable Trusts
A Charitable Gift Annuity is a way to make a donation to Casa Marianella at your death, receive a lifetime of income and get an income tax deduction.
There are also special trusts called a Charitable Remainder Trust which works much like a Gift Annuity but is more suitable for larger gifts.
There are other creative options available. Please let us know if you have any questions.
Thanks for any help you can give us!
This information is not intended to be used as legal or tax advice. Contact your own appropriate advisors to discuss the benefits and effects of any particular charitable & tax strategy.