For your interest in exploring a Legacy Gift to Asian Health Services. With your legacy gift you are ensuring the health of future generations of immigrants, refugees, and families in need.
Donors are often motivated to pledge a bequest because they want to express their deep respect for AHS’ mission and accomplishments and thus their hope for the organization’s longevity. They feel proud of the work of AHS and want to “give back” for the good it has done for the health of the larger community, perhaps even how it may have directly benefited a family member.
In addition, your gift could also benefit your spouse or loved one, including inheritance for your heir at a reduced tax cost, or reduce your income tax and/or avoid capital gains tax.
Your generosity will save lives and impact the health of our community for generations to come. We invite you to learn more.
You may be at the point of considering your overall philanthropic plans that allow you to schedule your financial giving commitments while fully utilizing tax benefits.
Planned gifts may include an outright pledge, a bequest you make in your will or trust, or a more tailored pledge such as a “life income” gift.
Here are some options to think about as you consider establishing your Planned Giving program.
As part of your Planned Giving program you could pledge a gift to Asian Health Services of “appreciated assets” in lieu of a cash contribution, including securities or real estate. In addition, contributing non-cash assets puts you in a strong position to maximize your tax benefits.
Securities primarily include shares of corporate stock or mutual funds, bonds issued by corporate or government entities, stock options, and limited partnership units, that can be exchanged for money.
Here are a few examples:
- Real Estate: You and your partner have decided to sell an apartment building that has greatly appreciated in value since you purchased it 15 years ago. You would like to contribute a portion of your profit from the proceeds to Asian Health Services.
- Stock: You intend to liquidate certain stocks in your portfolio in order to contribute to two non-profit organizations you’ve long supported. One, Asian Health Services, is currently conducting a capital campaign, and you’d like to support AHS’ clinical infrastructure and plan to direct ½ of your earnings from selling these securities to this campaign.
- Pledge: You and your husband wish to pledge a gift to AHS of a certain total sum, either for discretionary use or for a particular program, and you want to indicate that you will fulfill your pledge over a period of three to five years.
We encourage you to learn more by contacting Julia Liou, Director of Program Planning and Development at firstname.lastname@example.org or 510-735-3172.
A Legacy Gift is a charitable donation of any amount, designated through your will or living trust.
- Charitable Bequest: This is a provision in a will, trust, or estate plan that allocates a gift to a designated charity upon the death of the donor. Most people leave the bulk of their property through wills or living trusts, which are simple to create. You may wish to consult your attorney or financial advisor as you seek the best way to make a charitable bequest to Asian Health Services.
- There are several types of charitable bequests. The most common bequests to nonprofit beneficiaries are cash, securities, and real property including homes, and personal property. Personal Property consists of tangible things, such as book collections, art, and jewelry. Bequests of life insurance policies, retirement accounts, and bank accounts may also be made.
- Charitable bequests reduce the estate taxes that might be owed on the estate left by a decedent.
- You may choose to make a legacy gift in remembrance of a loved one, or in honor of someone whom you have greatly respected.
As an example: Over several years of making annual gifts, you have become more aware of Asian Health Services’ mission, financial needs, and aspirations, and want to impact the future of AHS. While your resources are modest, you have a substantial retirement fund and life insurance. You would like to explore pledging these resources in a Bequest gift to AHS, perhaps in your late husband’s name – a gift that will have lasting value.
We encourage you to learn more by contacting Julia Liou, Director of Program Planning and Development at email@example.com or 510-735-3172. We also recommend that you seek advice and assistance in developing Legacy Gift from your financial advisor or family attorney.
There are various kinds of Life Income Gifts to benefit both yourself and Asian Health Services. We recommend consulting with your trusted counsel on structuring these kinds of gifts.
Life Income Gifts cover a variety of charitable gift arrangements that most commonly would provide AHS with an irrevocable transfer of property (cash, securities) and also provide an income from that principle to the donor and/or designated beneficiaries. Upon the death of the donor, the principle remains with the gifted organization.
Life Income Gifts include:
- Charitable Gift Annuities
- Charitable Remainder Trusts
- Unitrust and Annuity Trusts
- Charitable Lead Trusts
Under Charitable Remainder Unitrust or Charitable Remainder Annuity Trust, you set up a trust and that trust pays varied or fixed annual payments to you and/or another beneficiary for life or a specified term. Upon the end of the term or upon death, the remainder of the trust assets go to Asian Health Services for the purposes you have designated.
We encourage you to learn more by contacting Julia Liou, Director of Program Planning and Development at firstname.lastname@example.org or 510-986-6830 ext 267. We also recommend that you seek advice and assistance in developing your Life Income Gift with your family attorney.
DO YOU KNOW NOLO?
Nolo is a popular resource for educating yourself about Estate Planning. Their guide, Nolo Wills Trust & Probate is particularly helpful in helping you know your options. Create a will, living trust, power of attorney, or living will, and learn how to avoid probate and estate tax or act as an executor.