Your planned gift may:
- Reduce your income tax and capital gains liability;
- Provide useful gift tax and estate tax reductions; and
- Provide an income stream for yourself and others.
Revocable Gifts – Bequests through your Will, Trust, or Beneficiary Plan
- A revocable gift through your will allows you to retain ownership and management of your assets during your lifetime. You may leave cash or securities to LMV through your will. Bequests can be specific, residual, or contingent.
- A Specific Bequest is one in which the donor gives a specific dollar amount or a specific piece of property, such as stocks, bonds or works of art.
- A Residual Bequest is used to give a charity all or a portion of the donor’s estate after all debts, taxes, expenses, and other bequests have been paid.
- A Contingent Bequest takes effect only if the primary intention cannot be met (e.g. if the primary beneficiary does not survive the donor). This ensures that the property will pass to the charity rather than to unintended beneficiaries.
Irrevocable Gifts – Annuity Trust, Unitrust, Charitable Remainder Annuity, Charitable Remainder Gift Annuity, Deferred Gift Annuity, Charitable Lead Trust, Charitable Bargain Sale, Life Estate or Remainder Interest in Real Estate
Securities, cash, or property may be irrevocably transferred to LMV with a provision that periodic income payments be made to the donor or to someone named by the donor. These payments can be made for the life of the donor or for a specified time period. After the payment period has ended, the remaining funds are transferred to LMV to further its charitable purposes.
For additional information on these charitable giving methods, contact your financial advisor.