Aspca Gift Donation

Aspca Gift Donation – Entering your will or trust is a meaningful way to help us continue to serve animals in need. Many of our programs and services have benefited people who had the foresight to include them in their estate plans.

Expand to learn about giving through a will or trust. How you can give through a will or trust:

Aspca Gift Donation

“I give and bequeath to The American Society for the Prevention of Cruelty to Animals, a non-profit corporation, with principal offices now located at 424 East 92nd Street, New York, NY, 10128, the sum of , or _______% of my estate, which will be used to achieve its general purpose (or for specific purposes as indicated)”. Other ways you can give:

Nancy Haynes, Staff Bio

The material presented on this website is intended as general educational information on the subjects discussed herein and should not be construed as legal, financial or tax advice. Please seek specific advice from your tax advisor, attorney and/or financial planner to discuss the application of this topic to your individual situation.

A gift annuity is a contractual arrangement in which, in exchange for a minimum gift of $10,000, it will make payments to you, one other person, or two people for life. Use our calculator to see the benefits of a charitable gift annuity.

People over 60 are entitled to an immediate payment annuity. Payments can also be deferred to a future date, making gift annuities an excellent retirement vehicle. Gifts can be in cash or marketable securities.

The minimum age for those entering into a Deferred Payment Charitable Gift Annuity contract is 50 and the minimum age to start payments is 60. People aged 60 and over can defer payment for at least one year after the annuity is fixed.

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Creating a gift annuity accomplishes two things: it creates a contract for you, the donor (and others if you wish) to receive fixed payments for life, and it makes a gift to . Because a portion of the amount given for a gift annuity will be used for charitable purposes, the donor is entitled to a federal (and possibly state) income tax deduction in the year the gift is made .

Irrevocable gifts contributed become assets and payment is the general obligation of the organization. This annuity is fully asset-backed and the funds are separately invested in accordance with conservative and disciplined financial standards.

Over a period of several years, a portion of each payment received is tax-free. This further increases the after-tax dollars available to donors for spending or investment. An annuity funded with appreciated securities has additional advantages: the profit allocated to the gift portion is not subject to capital gains tax, and the portion of the profit that will be recognized can be distributed over the term of the contract.

Retirement assets are one of the most rewarding gifts you can give. These funds grow tax-free until withdrawal. With innovative use of these assets, you can contribute generously and also provide for your loved ones. Many taxes on these plans can be avoided or reduced through carefully planned charitable gifts.

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You can name a beneficiary or contingent beneficiary of your retirement assets after your lifetime. When a retirement account is left to a charity, the organization pays no income tax, while your heirs may pay income tax if they inherit your retirement funds. Your retirement plan administrator can provide you with a beneficiary form for you to name as sole or partial beneficiary.

You can name the trust as the primary beneficiary of excess or unused retirement assets. After your lifetime, the trust can provide income to your heirs for a period of several years, after which the trust money can fund charitable endeavors. Because it is a charitable trust, there is more money to generate income for the heirs.

Life insurance is an often overlooked asset that you can use to make a gift. There are several ways to support many programs with insurance-related gifts.

It is relatively easy to make changes to the beneficiaries/payees of your insurance policy without changing your will or other aspects of your estate plan. You just have to ask your insurance company for a form that allows you to be the beneficiary of your insurance policy.

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You can transfer ownership of a paid-up life insurance policy to . After the transfer, they can choose to cash out the policy immediately or keep it and receive the death benefit later. You’ll get an immediate income tax deduction for the value or the cash redemption basis (usually the cost), whichever is lower.

You can issue a policy and make it the owner and beneficiary. Premium payments can be made directly to the insurance company or through your annual gift to the organization. Regardless of how you pay the premium, you can take an income tax deduction.

A Charitable Remainder Trust (CRT) is a lifetime income arrangement that provides you and/or other beneficiaries with an income stream for life or over a period of several years. After the trust ends, the principal, or “residual interest,” passes to . Unlike other living income arrangements, CRTs are invested separately and managed in trust. Note that it does not manage this trust for donors.

This is the most flexible life income plan and an effective way to benefit your heirs and . Some versions of CRTs can be funded by stock, partnership interests, real estate, and in some cases, tangible personal property such as artwork. You can choose to receive variable or fixed income (starting immediately) for life or for a term of years. There is no limit on the number of CRT recipients.

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A “Payable on Death” (POD) or “Transfer on Death” (TOD) account names a beneficiary to receive the income when you die. You don’t need to change your will or work with a lawyer or accountant. There is no charge to arrange these gifts. Simply fill out the beneficiary form provided by the financial institution with the following information. You retain full control over the account funds or assets during your lifetime, and such gifts are fully revocable.

Although it is not possible to make a lifetime charitable gift of a savings bond without first paying taxes on the interest earned, it is an excellent asset to reach . That’s because savings bonds generate “deceased income.” This means that if you die as an owner, the accrued interest is taxed before your heirs inherit it. However, if they are given to an organization such as , the tax is not paid. We suggest that you check with your advisor about the best way to bequeath your savings bond to .

Thanks! Watch this heartfelt video from our team as a “thank you” for your help in 2022!

The Nordic family has included in his will, as a beneficiary of his retirement plan, and they are the monthly donors.

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The Legacy Society was created to recognize and thank those of you who have included in your estate plan, whether through a will, trust, life insurance or retirement plan, bank account or gift of ‘lifetime income, such as a charitable gift annuity. In your wisdom, you have made an eternal commitment to continue the work of fighting animal cruelty for years to come.

If you have included it in a will or other intended gift, please let us know. Your willingness to be listed as a member of the Legacy Society encourages others to follow your example. We recognize and respect those who wish to remain anonymous, but we ask that you tell us your plans confidentially, as it allows you to plan for the future.

If you have included it in a will or other intended gift, please let us know. We recognize and respect those who wish to remain anonymous, but we ask that you tell us your plans confidentially, as it allows you to plan for the future.

If you have questions about how to include it in an estate plan, please contact our member assistance team at (800) 628-0028 or email the planned giving department at [email protected].

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If you are an attorney, trustee or executor of an existing estate for a deceased person, please contact our Trusts & Estates Department at (212) 876-7700 ext. 4980 or [email protected].

The American Society for the Prevention of Cruelty to Animals is recognized as a 501(c)(3) charity by the Internal Revenue Service.

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