Will Power: A Primer on the Benefits of Planned Giving

I recently wrote an article for the Jewish Advocate where I outlined the variety of ways to donate to a  non-profit organization. My advice follows:
Throughout my thirty years leading, staffing and consulting on over a dozen major campaigns totaling over $1 billion, I’ve learned a lot about the variety of opportunities available to individuals wishing to donate to non-profit organizations and charities. A planned gift allows you to partner with an organization in a way that is philanthropically and personally satisfying and oftentimes fiscally beneficial. Below are listed several options for planned giving.
Bequest
A bequest is one of the simplest and most meaningful gifts you can give to an organization. It is a gift to a specific recipient outlined in your will.  A charitable bequest is a transfer of assets or property at the time of your death to a non-profit organization or organizations for charitable purposes.  It is fully deductible for federal estate tax purposes.
Charitable Gift Annuity
A charitable gift annuity involves the donation of a set sum of money by a living donor to an organization. The organization subsequently pays the donor a specific amount of interest every month during the remainder of his/her lifetime. The organization keeps the balance of the money when the donor passes away. Benefits include a guaranteed life income and an immediate charitable income tax deduction.
Charitable Remainder Trust
A charitable remainder trust is a tax-exempt irrevocable trust arrangement. You transfer cash or other assets to the trust and may receive income for life or, if you choose, a certain term of years. The income can be paid over your life, your spouse’s life and even your children’s and grandchildren’s lives. Creating a charitable remainder trust can provide you with an income tax deduction, and these trusts do not pay any capital gains taxes, either on receipt of appreciated assets or on any gains on assets in the trust.
Charitable Lead Trust
When you establish a charitable lead trust, the charity receives the income during your lifetime and your beneficiaries receive the residual upon your death. Charitable lead trusts offer tax benefits generally by removing assets from your estate.
Pooled Income Fund
Pooled income funds accept gifts of cash or stocks, invest them with similar gifts from other donors, and then distribute a proportionate share of earnings to the donor. You may receive an income tax deduction by making a gift to a Pooled Income Fund, and as with most other irrevocable planned gifts, appreciated assets may be donated without any capital gains tax being paid. In this way, you get income on the full value of the asset without any reduction for taxes.
Other gifts
You can also give to an organization by making it the beneficiary of assets remaining in your qualified retirement or life insurance plan, giving a gift of your securities or real estate or bestowing tangible personal property such as works of art, coin or stamp collections or rare books.
It is important to consult with your accountant and attorney to determine what option best fits your needs. Check with the Development Office to see what types of specific programs your charity offers.