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Including a charitable gift in your will is a simple way to make a lasting gift to Students For Liberty and the future of freedom. You can leave a gift to Students For Liberty by adding to an existing will or drafting a new one. Make a gift of a stated dollar amount, specific property, a percentage of your estate, or the remainder after distributions to other beneficiaries. In doing so, you leave a legacy to Students For Liberty, yet preserve and enjoy assets you might need during your lifetime. Plus, the assets distributed to Students For Liberty are exempt from estate tax. We also recommend that you consult with your tax advisor or planning professional.
Giving through life insurance is one of the simplest ways to make a significant contribution to Students For Liberty and establish your legacy of giving. There are two approaches: You can designate Students For Liberty as the primary or secondary beneficiary of either 100% or some percentage of the proceeds from the policy. Or you can transfer to Students For Liberty ownership of the policy – either paid in full or for which you continue making premium payments. The transfer of the policy is a present gift for which a charitable tax deduction may be taken, and your continued payment of premiums is each considered charitable contributions, deductible to the full extent of the law. We also recommend that you consult with your tax advisor or planning professional.
You can turn the value of real estate into community good and receive financial and tax benefits with a gift to Students For Liberty of real estate. A rental house, vacation home or unimproved land can be gifted to Students For Liberty for sale. You avoid capital gains tax and the proceeds from the sale of the property will be used to support our work in the community. A gift of only the ‘remainder interest’ in your personal residence to Students For Liberty while you and your family continue to live in and fully enjoy your home as long as you like can also produce a charitable deduction. This is a retained life estate and works just as well with a farm or vacation home as with your principal residence. We also recommend that you consult with your tax advisor or planning professional.
Retirement plan assets (those in qualified plans and IRAs) are ideal for charitable giving purposes because these assets are often heavily taxed when passed to non-spouse beneficiaries. To make a future gift of retirement plan assets simply requires a designation of Students For Liberty as the beneficiary of the plan. Making a present gift of retirement account assets during your lifetime has been permitted under recent law for certain tax years; check with your tax advisor before making a gift of retirement plan assets.
If you donate shares of stock that have increased in value since you first bought them, and it has been more than a year, you may be able take a charitable deduction for the stock’s fair market value on the day you gift it.
In addition, you will also be able to avoid capital-gains taxes on the unrealized gain which you would have had to pay if you sold the stock and then gave the charity the proceeds. You may be able to deduct the fair market value only if you held the stock for more than one year before making the gift.
It is important to review your own gifting strategy with your tax counsel to identify the specific tax advantages for your own particular situation.
Giving through a Charitable Remainder Trust allows you to receive income for the rest of your life or a specified term of years, knowing that whatever remains will benefit Students For Liberty. You transfer assets into a trust and receive an immediate charitable deduction. The trust distributes regular income payments to you or to designated family members. You may choose to receive a fixed payment or one that changes with the value of the trust assets; payments can begin immediately, or you can defer them to increase your charitable income tax deduction. The amount of the payments and the amount of the charitable tax deduction depends on the age of the recipient and the applicable federal rate for determining the present value of an interest for a term of years. Upon the beneficiary’s death or after a defined period of years, the remaining assets in the trust will transfer to Students For Liberty. Consultation with your tax advisor or planning professional will be required.
A Charitable Lead Trust permits you to remove assets from your estate and benefit Students For Liberty during the trust’s term. Assets selected by you are transferred into a trust, which pays Students For Liberty an annual amount to accomplish its mission. During its term, the trust can be managed by experienced professionals, which may help your trust investments grow over time. When the trust terminates, either upon your death or after a specified number of years, its final assets are transferred to the family members you designate. Any growth in the trust passes to recipients, often with significant transfer-tax savings. Charitable lead trusts may also be created by will as part of your testamentary planning. Charitable Lead Trusts offer financial benefits by sheltering investment earnings from income tax, too. However, at the time your trust is established, you may owe gift tax on the present value of your gift to the final beneficiary. Charitable Lead Trusts can be arranged to make annual distributions of a fixed percentage of the trust assets or distributions of a fixed dollar amount. Consultation with your tax advisor or planning professional will be required.
