ESTATE PLANNING

 

The primary focus of estate planning involves deciding what you want done with your estate when you pass away.  Depending upon the size of your estate and circumstances specific to your family or heir's, we can employ many different tools into your estate plan to ensure that your wishes are met.

 

A planned gift to Saffyre Sanctuary insures our long-term success and procures the resources that create extraordinary opportunities and preserve our future.  It provides you and your heir's substantial benefits today and tomorrow.  This is what planned giving is all about.

 

Potential benefits of these kinds of gifts include:

 

  • Increased current income for the donors or others 

  • Reduced donor income tax 

  • Avoidance of capital gains tax

  • Passing of assets to family at a reduced tax cost

  • The ability to make a significant donation to a cause about which you feel passionate 

 

With the assistance of a financial advisor, anyone can meet his or her charitable and financial goals. These types of gifts include bequests, trusts, and contracts between a donor and a charity.

 

Below are some of the most popular types of these gifts: 

 

Gifts in Kind:

 

  • We accept donations of major items, such as cars, horse trailers, farm equipment, and office equipment that can be used or sold by us to benefit the horses.

 

Honorary or Memorial Gifts:

 

  • Pay tribute to someone dear to you with a memorial gift to Saffyre Sanctuary. Honor your pet, your horse, your friend, or family member's memory, by supporting a great cause.  At Saffyre Sanctuary, we send out a lovely card, which states that a donation was made in honor or in memory of "fill in the blank".  Included is also the name and address of the donor so recipients can send a thank you if they wish.

 

Life Insurance:

 

  • Naming Saffyre Sanctuary as the beneficiary of a life insurance policy is a simple way of making a large gift.  You will benefit from a potential income tax deduction. (Please check with your tax attorney).

 

        New Policy - You can fund a future gift for us from your income instead of capital.

 

        Paid-Up Policy - Give us a policy whose coverage you no longer need.

 

        Gift-Replacement - Create a life-income gift for yourself; use insurance proceeds to

        restore the value of your gift to benefit your heirs.

 

Matching Gifts:

 

  • Some companies have a matching gift program that can double or triple your contribution. Ask your employer if they will match your individual gift to Saffyre Sanctuary.

 

Planned Gifts:

 

  • Bequest - When you decide to leave assets to charity in your will, you are making a bequest. Your estate will receive a charitable estate tax deduction at your death, when the gift is made to Saffyre Sanctuary.

 

  • Charitable Lead Trust - This trust makes payments, either a fixed amount (annuity trust) or a percentage of trust principal (unitrust), to charity during its term.  At the end of the trust term, the principal can go back either to you (a grantor lead trust) or to heirs named by you (a non-grantor lead trust).  You may claim a charitable income tax deduction for funding a grantor lead trust or a charitable gift tax deduction for funding a non-grantor lead trust. Since lead trusts are typically used to pass assets to heirs, non-grantor lead trusts are far more common than grantor lead trusts.

 

  • Charitable Remainder Trust - This trust makes payments, either a fixed amount (annuity trust) or a percentage of trust principal (unitrust), to whomever you choose to receive income.  You may claim a charitable income tax deduction and may not have to pay any capital gains tax if the gift is of appreciated property.  At the end of the trust term, the charity receives whatever amount is left in the trust. Charitable remainder unitrusts provide some flexibility in the distribution of income, and thus can be helpful in retirement planning.

 

  • Gift Annuity - A gift annuity is a contract between a charity and yourself.  In return for a donation of cash or other assets, the charity agrees to pay a fixed payment for life to you or to a friend or family member of your choosing. You also can claim a charitable tax donation. If you fund a gift annuity with long-term capital gain property, you will have to report only some of the gain, and may be able to report it in installments over many years. Income from a gift annuity can be deferred for a period of years.  Deferred gift annuities are often set up by younger donors to supplement retirement income.

 

  • Pooled Income Fund - A charity accepts gifts from many donors into a fund and distributes the income of the fund to each donor or recipient of the donor's choosing. Each income recipient receives income in proportion to his or her share of the fund. After making the gift to a pooled fund, you receive a charitable income tax deduction and will not have to pay capital gains tax if the gift is of appreciated property.  When an income beneficiary dies, the charity receives the donor's portion of the fund.

 

  • Retained Life Estate - You may make a gift of your personal residence or FARM, to charity and retain the right to live there for the remainder of your life. You receive an immediate income tax deduction for the gift. At your death, the charity can use or sell the property.

 

Retirement Plans:

 

  • The balance of your retirement plan may be worth more when donated than to your heirs. 

 

Securities:

 

  • The IRS allows one of its most significant tax breaks for gifts of appreciated securities.

 

Stock: 

 

  • Stocks and other gifts of investment assets such as mutual funds provide an opportunity for tax savings while supporting Saffyre Sanctuary.

 

This information is provided to give only basic information about planned giving options. We strongly recommend that you speak with your financial advisor to get specific advice about what choices you make.  If you do not have a financial advisor, we can provide a source of contacts for you to review.

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