Freedom House is a 501(C)(3) tax exempt organization, making every gift tax deductible to the donor. We are organized to accept gifts to either our immediate need or long term funding vehicle utilizing any or all of the following financial vehicles:
- Donations of Cash or Property
- Gifts of Stocks and Securities
- Bequests of Retirement Assets
- Gifts of Real Estate/Insurance
Sampling of Financial Products for Creative “Giving”
Estate Planning is an important process that manages your financial wishes during life and upon your death. Plans can be tailored to your situation and may include special types of will arrangements, trusts, or annuities. Through many of these options you can reduce or delay your tax burden and help Freedom House.
You’ll be amazed at what the following financial products allow you to do with modest amounts of cash:
Charitable Remainder Trusts: If you’re concerned about the high cost of capital gains tax should you sell appreciated stock or real estate; or you’re about to retire and you’re evaluating options for increasing your future income, a Charitable Remainder Trust (CRT) may be for you. CRTs permit you to make a gift of your appreciated property and receive payments for a life, two lives or a term of years. Through CRTs, you can bypass capital gains tax; the trust will sell your property tax-free and then reinvest in assets that produce increased income for you and your loved ones. Best of all, you will receive a current charitable deduction for your gift of the remaining value in the Trust that will go to charity. The following tools are available to take full advantage of the tax laws:
- Charitable Remainder Annuity Trust
- Charitable Remainder Unit Trust
- Access Trusts
- Charitable Lead Trust
- Wealth Replacement Trust
- Revocable Trust
- Irrevocable Trust
- Irrevocable Life Insurance Trust
Gifts of Insurance: Most people own insurance at sometime during their lives. However, as time goes on, that life insurance policy may no longer be needed. You can donate your insurance policy benefits to charity (in which case you can enjoy income tax deductions for up to 6 years) or make an outright ownership change to the charity, in which case you receive an income tax deduction for every policy premium you continue to pay. Such gifts, which allow you to contribute to a favored charity and provide tax benefits, can be life insurance, an insurance unit trust or a gift annuity.
Wills, Bequests & Trusts: While it’s impossible to know or control what happens in the future, you certainly have the ability to plan what happens to your finances after your death – taking care of loved ones is first on the list, avoiding unnecessary taxation is a close second but planning gifts to benefit your favorite ministries, charities and causes can and should be a part of this process. A Will allows you to state how you want your property or estate distributed, and names an Executor to distribute your property, pay debts and taxes and handle other business affairs to settle your estate. A Living Trust may be something you decide to set up while you’re alive that directs where your assets go after death, but unlike a Will, is not subject to probate, a lengthy and costly process that puts the courts in charge of your assets.
Please let us know how we can help you help us – and those most in need – now and into the future. Talk to your financial advisor about avenues that might be open to you. Or, if you don’t have a financial advisor, fill out the form below and we’ll have one of our financial advisors get in touch with you.