Please contact a knowledgeable estate planning professional to ask what type of charitable bequest or gift will benefit you the most.
Planned giving is a simple concept. It means that someone is giving a gift to an organization whose goals and objectives they support and is doing this in a manner that maximizes tax and other financial benefits. A planned gift is typically a gift of an asset or income. Remember to include us in your written plan, or this is what could happen:
- Your collection of Early Ford cars, trucks, and memorabilia could go to the wrong person or organization.
- Your estate could pay more than necessary in administrative costs
- You may miss out on some significant estate-tax savings opportunities available to you
Bequests, legacies, devises, transfers, or gifts to a 501c3 entity, such as the Early Ford V-8 Foundation Museum, are tax-deductible as determined by the Federal Estate and Gift Tax Act, if they meet acceptable provisions. Charitable gifts include such things as:
- Gifts of cash, stocks and bonds, savings certificates, commercial annuity contracts, and funds held in an IRA. By naming the Early Ford V-8 Foundation as a primary or secondary beneficiary on an IRA, you would get a charitable donation write-off and avoid paying taxes on the IRA or on withdrawals made from the IRA by the Early Ford V-8 Foundation
- Tangible property, such as Early Ford V-8 cars and trucks as well as memorabilia are wonderful ways to show your appreciation for what it has meant to you to be involved in Early Ford V-8 restoration, driving, and socializing.
- Deferred giving through Insurance policies or annuities (simply name the Early Ford V-8 Foundation Museum as a beneficiary)
- Gifts designated in memory of someone or to honor someone
- Workplace Giving: Many employers are willing to match your gift to a non-profit organization as part of their charitable donation programs
- Appreciated real estate, if owned more than one year could be of sizable help to the Early Ford V-8 Foundation in generating endowments and working capital
Planned Gifts in support of the Early Ford V-8 Foundation offer:
- A current income tax deduction
- Increased cash flow from an asset, sometimes at a more favorable tax rate
- Preservation of an asset, coupled with the elimination, reduction, or deferral of capital gains
- Professional management of an asset
- Gift and Estate Tax savings