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What is It? |
What are the tax benefits? |
What are some other benefits? |
| Outright Gifts and Memorials |
Donation of cash, securities, personal property |
Income tax deduction for the value of the gift, plus generally no capital gains tax on appreciated property |
You can tailor your gift to the Library’s immediate needs |
| Living Trust |
Gift given after death under a trust you establish during your lifetime |
Possible savings in estate taxes if the Library is a beneficiary of the trust after death |
Terms of trust can be changed at any time |
| Bequest In Will |
Gift under a will whether outright or as part of a trust arrangement |
Possible savings in estate taxes for the value of your bequest to the Library |
Gives you flexibility in providing for family needs first |
| Life Insurance Gift |
Gift of an old or new policy or merely naming the Library as beneficiary |
Immediate income tax deduction for the value of a gifted policy, plus possible estate tax savings |
Provides a way to make a significant gift with little expenditure |
| Retirement Plan Gift |
Gift made by naming the Library as beneficiary after your death |
Avoids income taxes and may result in estate tax savings |
Preserves plan’s value and allows you to leave heirs less costly bequests |
| Real Estate Gift |
Donation of a residence either in full or with a retained life estate or term of years |
Immediate income tax deduction for charitable value of gift; possibly no capital gains tax on appreciated property |
Can allow you to live in your home and still receive charitable deduction |
| Charitable Remainder Annuity Trust |
Trust that pays a specified annual amount to you or those you name before Library receives the remainder |
Income tax savings from deduction; possibly no capital gains tax liability; possible gift or estate tax savings |
Provides guaranteed annual "income" for donor or other beneficiary |
| Charitable Remainder Unitrust |
Trust that pays annual amount which is a specified percentage of value of trust to you or those you name before Library receives remainder |
Income tax savings from deduction; possibly no capital gains tax liability; possible gift or estate tax savings |
Provides annual "income" that could increase if trust value increases |
| Charitable Gift Annuity |
Contract in which the Library agrees to pay you back a percentage of your gift annually for your lifetime |
Immediate income tax deduction for part of gift’s value; capital gains spread out over life expectancy |
Gives you and another beneficiary a fixed "income" for life |
| Charitable Lead Trust |
Trust that pays the Library an annual amount for a period of years before you or heirs receive the trust remainder |
Possible gift or estate tax savings for value of payments made to the Library |
Allows you to pass assets to heirs intact at a reduced cost |
