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 and still maintain lifetime use of the property.
Naming SpokAnimal as a beneficiary of a retirement account is potentially very advantageous for both you and your heirs. If left to an individual, these funds may be subject to both estate tax and income tax, thus greatly reducing the amount of money your heir will actually receive. If the funds are left to a charity such as SpokAnimal, these taxes are usually avoided, often resulting in a larger gift than you might otherwise be able to make. You can name SpokAnimal as your sole or partial beneficiary on the form available from your retirement plan’s administrator. You retain complete control over the funds or assets in the account while you are living, and these gifts are completely revocable.