Discover the Many Benefits of Giving Wisely
Gift by Will or Trust
A bequest is one of the easiest ways you can make an impact on the lives of those living with ALS. A bequest can be made in your will or trust directing a gift to The ALS Association Florida Chapter.
Benefits of Your Gift:
- Leave a lasting legacy
- Receive an estate tax charitable deduction
- May lessen the burden of taxes on your family
How Do You Make a Gift through a Will or Trust?
With the help of an attorney, you can include language in your will or trust specifying a gift to The ALS Association Florida Chapter as part of your estate plan.
Your Gift Options
A bequest may be made in several ways:
- Gift of a percentage of your estate
- Gift of a specific dollar amount or asset
- Gift from the balance or residue of your estate
Sample bequest language:
"I bequeath (state the specific dollar amount, percentage, residue, or description of real or personal property) to The Amyotrophic Lateral Sclerosis Association Florida Chapter, to be used or disposed of as The Association in its sole discretion deems appropriate."
Beneficiary Designation Gifts
A beneficiary designation gift is an easy and affordable way to make a gift to support The ALS Association Florida Chapter. You can designate us as a beneficiary of a retirement, investment or bank account or your life insurance policy.
Benefits of a beneficiary designation gift:
- Support the causes that you care about.
- Continue to use your assets for as long as needed.
- Simplify your planning and avoid expensive legal fees.
- Reduce the burden of taxes on your family.
- Receive an estate tax charitable deduction.
How a beneficiary designation gift works:
- To make your gift, contact the person who helps you with your account or insurance policy, such as your broker, banker or insurance agent.
- Ask them to send you a new beneficiary designation form.
- Complete the form, sign it and submit it back to your broker, banker or agent.
- When you pass away, your account or insurance policy will be paid or transferred to The ALS Association Florida Chapter.
Important considerations for your future
If you are interested in making a gift but are also concerned about your future, keep in mind that beneficiary designation gifts are among the most flexible of all charitable gifts. Even after you complete the beneficiary designation form, you can take distributions or withdrawals from your retirement, investment or bank account and continue to freely use your account. You can also change your mind at any time for any reason.
Organization Name: The ALS Association Florida Chapter
Tax ID: 94-3124732
Gifts through IRAs
The IRA Charitable Transfer is an excellent way to make gifts and receive tax benefits in return. As you plan your required minimum distributions for this year, consider using your IRA account to make the most of your charitable giving. You receive a tax benefit even if you take the standard deduction! It’s important to consider your tax situation before deciding whether to make a charitable contribution from your IRA. Be sure to share this gift plan with your financial advisor.
- You must be age 70½ or older at the time of gift.
- Transfers must be made directly from a traditional IRA account by your IRA administrator to The ALS Association Florida Chapter.
- Gifts must be outright. Distributions to donor-advised funds or life-income arrangements such as charitable remainder trusts and charitable gift annuities do not qualify.
- Gifts from 401k, 403b, SEP and other plans do not qualify. Ask your financial advisor if it would be right for you to create a traditional IRA account so you can benefit from the IRA Charitable Transfer.
- Donate up to $100,000 annually.
- IRA Charitable Transfers are excluded gross income for federal income tax purposes on your IRS Form 1040. You receive no charitable deduction.
- Count towards your required minimum distribution for the year in which you made the gift.
For more detailed information about this opportunity, CLICK HERE.
Charitable Gift Annuity
If you’re interested in receiving dependable cash-flow for life, regardless of fluctuations in the market, then a charitable gift annuity may be right for you. In many cases, you’ll receive payments at a higher rate than the interest you are currently receiving on investments.
How it Works:
- You transfer property to The ALS Association Florida Chapter. In exchange we pay you fixed income for life.
- The fixed income can be quite high depending on your age.
- A portion of your income stream may even be tax free.
- You will receive a charitable deduction for your gift of the remainder to The ALS Association Florida Chapter and the satisfaction of furthering our mission.
- You must be at least 60 years old at the time payments start. Our minimum gift requirement is $10,000.
Types of Assets You May Give:
- If you decide to fund your gift annuity with cash, a significant portion of the annuity income will be tax free.
- You may make a gift of your appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax.
Start Receiving Payments Now with a Current Gift Annuity
If you desire current income, you transfer property in exchange for our promise to pay you fixed income beginning as early as this year. You will receive an income tax charitable deduction this year for the value of your gift to The ALS Association Florida Chapter.
Deferred Gift Annuity for Income at Future Date
You may not be ready to begin receiving income until a future date, such as retirement. You can establish a deferred gift annuity, receive a charitable income tax deduction this year and receive payments at a designated future time. Best of all, because you deferred your payments, your annual payment will be higher than with a current annuity.
Charitable Remainder Trust
For generous people, estate management can be challenging. Maintaining financial health for one's self and loved ones while supporting a favorite charity can be challenging. However, there is a way to make your assets work for you, your family and the causes you care about.
A Charitable Remainder Trust (CRT) provides many opportunities such as lifetime income, tax benefits, and helping your favorite charity, all with the same dollars. When securities, cash, or real estate are irrevocably transferred to the trust, your trustee manages the trust and makes income distributions to you and/or others as directed in the trust document. The income can be for life or a term, no more than 20 years. After the completion of all income payments to the beneficiaries, the remaining trust balance is distributed to one or more of your favorite charities named in the trust.
Charitable Remainder Trusts entitles those who itemize to an income tax deduction, bypassing upfront capital gains tax and can be beneficial for those who have an estate that will be subject to estate taxes. Individuals should discuss tax implications with their personal advisors.
A Charitable Reminder Trust can be an effective way for one to achieve financial and personal goals as well as satisfying a charitable intent. The ALS Association offers a complementary report on Charitable Remainder Trusts and can assist with any questions.
If you’d like to learn more about different gift opportunities or would like to request specific bequest language, please give us a call at 888-257-1717 or e-mail Phil Flynn at firstname.lastname@example.org.
Please know all information is complimentary and you are not obligated to make a gift.
Please Note: The above information is not to be used as tax or legal advice and we advise you to consult your professional adviser for your own situation.