Every gift can be a planned gift...
with benefits to you
Every gift can be a planned gift...with benefits to you
Do we purchase a home without a plan?
The hopeful answer—probably not.
Do we purchase a car without having researched different models and makes?
The hopeful answer—probably not.
What kinds of decisions do we make without proper preparation?
The hopeful answer is—very few.
When someone shares a gift of $12,367.20, as you’ll see below,
is this an outright gift or an estate gift?
The correct answer is—yes, both.
If you’re interested in helping the patients and families Haven serves and learning about the tax benefits to you, we hope you’ll ask Haven’s professionals to assist you. It’s a privilege for our Development team to work with you to achieve your goals. First, we’ll ask you these questions:
- Who would you like to assist?
- How long do you wish to provide this assistance?
- What is the real cost to provide this assistance?
- Can you increase your income and lower your taxes while providing this assistance?
Now we are ready to begin a detailed discussion of how our team can help you, your family, friends and community. Imagine accomplishing all of this by sharing a gift. Here is one more very exciting benefit to sharing this gift—our team can show you how you can give and reward yourself with the lowest cost of any asset within your overall estate.
Does this sound too good to be true? Let’s look at some ways donors are planning their gifts and helping many people, themselves included, at the very same time.
Hank and Kay want to share an outright gift of cash to help two patients for two months. Because the cost of helping a Haven patient is $206.12 per day, we know that Hank and Kay are dedicated to sharing a gift of $12,367.20. This gift would allow for a charitable contribution deduction of the full fair market value of their gift if they itemize their deductions.
When we asked Hank and Kay if they own some stock, they answered yes. Like many stocks, theirs pays little in dividends but does have a large fair market value. They own 1,250 shares of stock with a cost basis of $937.50 and a fair market value of $21,912.50, which they are willing to share as a gift to Haven.
Hank and Kay decided to share the gift of stock rather than writing a check, which did not affect their spendable income. Thus, they received a charitable contribution deduction for $21,912.50 rather than $12,367.20.
- Their cost if they write a check — $12,367.20
- Their cost if they give stock — $937.50
- Hank and Kay just saved $11,429.70 and helped another Haven patient
If they had sold their stock and sent a check, they would have paid capital gains tax. By giving the stock directly, they avoided paying capital gains tax.
If you’d like to help provide care to a Haven patient, and enjoy the benefits of sharing a gift as Hank and Kay did, our specially trained professionals want to help you fulfill your commitment to assisting others. We look forward to hearing from you.
Please visit this page for these future Planned Giving topics:
- Charitable Remainder Unitrust
- Charitable Gift Annuity
- Planning Your Overall Estate
- Writing A Will
- Sharing Your Privately Held Corporation with Zero Tax