Gifts of Real Estate
Your charitable contribution of real estate – a personal residence, farm, vacation home, commercial real estate or vacant land – is a tax-wise gift that has income and capital gains tax advantages. By choosing an option called “Retained Life Estate,” you can give your personal residence to SpokAnimal while maintaining lifetime use of the property.
Gifts of Retirement Accounts
Retirement accounts are often among the least tax-efficient assets to leave to your loved ones, as they may be subject to both estate tax and income tax.
By contrast, if you name SpokAnimal as the beneficiary of your retirement account, the full value passes to us tax-free. This allows you to make a meaningful gift while preserving more tax-advantaged assets for your heirs.
You can name SpokAnimal as your sole or partial beneficiary on a form available from your retirement plan advisor. You retain complete control over the funds while you are living, and these gifts are fully revocable.
Donor Advised Funds (DAFs)
A Donor Advised Fund (DAF) is a tax-advantaged charitable giving account.
You can support SpokAnimal through your Donor Advised Fund (DAF) by recommending a grant during your lifetime, or by naming SpokAnimal as a beneficiary of any remaining funds after your lifetime. This is a simple way to make a lasting impact with resources you’ve already set aside for charitable giving.
For more information, visit dafday.com.
Living Trust Gifts
Life Insurance Policy Gifts
Life insurance policies are an easy way to make a significant charitable gift. There are a couple of ways to support SpokAnimal with an insurance-related gift, as detailed below.
Plus, you can change the beneficiaries of your life insurance policy without changing your will or other aspects of your estate plan.
Giving an Existing life insurance policy
Do you have a policy that has outlived its intended purpose, such as protecting a child or mortgage? You can donate it to SpokAnimal. You receive an immediate income tax deduction for the gift of the policy up to the cost basis, or what you paid for it.
Giving a New life insurance policy
You can take out a new policy and make SpokAnimal the owner and beneficiary. Premium payments are tax deductible. They can either be made by SpokAnimal from your annual contribution for this purpose or you can pay for the policy directly. This process enables you to make a manageable annual tax-deductible payment that provides a significant contribution to SpokAnimal when the policy matures.