what is
Planned Giving?
A “planned gift” is most simply defined as any method of charitable contribution—other than a cash or in-kind gift—that will provide long-term financial support to the Friends of Gettysburg.
There are many forms of planned giving (wills, bequests, charitable gift annuities, gifts of life insurance, charitable remainder trusts, etc.), and each method of planned giving can be tailored to meet your specific financial needs.
Making a planned gift to the Friends of Gettysburg makes one thing certain: you can provide benefits for both yourself and your family while you make a long-term, positive impact on the preservation efforts of the Friends in Gettysburg.
Gifts of Life Insurance
Some of our supporters no longer need life insurance policies purchased years ago to provide for children or other family members. If that’s your situation, consider donating the policy to the Friends of Gettysburg . You may be able to claim a charitable deduction for approximately the policy’s cash surrender value, and the proceeds are completely removed from your estate.
Retirement Plan Assets
Income in respect of a decedent (IRD) is income you were entitled to but did not receive during your lifetime. IRD is subject to both income and estate taxes—and sometimes generation-skipping taxes too.
The most common source of IRD—and the one most likely to comprise a large part of your estate—is an IRA or other retirement plan. You can avoid the taxes on IRD—and make a significant charitable gift to the Friends of Gettysburg at a greatly reduced out-of-pocket cost—by using IRD assets to make charitable gifts and leaving other assets to your family members and other non-charity beneficiaries. By creating a trust in your will, you can even use an IRA to provide life income for a survivor.
Contact our development department at 717/334-0772 ext. 231 for more information.
**The materials in these estate-planning Web pages are informational only and are not intended as legal or financial-planning advice. For legal and financial-planning advice, please consult your attorney.