Planned Giving
Planned giving involves planning a donation ahead of time, sometimes where donations are made once the donor passes away. Giving from your appreciated assets can offer benefits to you and Veterans Legal Services.
With planned giving to VLS, you can achieve your financial and personal goals while making an impact on the lives of veterans and their families.
Below are some of the ways you can include VLS in your planning.
Donor Advised Funds (DAFs)
You can recommend a gift to VLS by contacting your fund administrator.
You can set up recurring grants to help sustain the mission of VLS. This can be done by contacting your fund administrator and choosing your grant frequency.
You can help continue the mission of VLS after your lifetime by naming VLS as the beneficiary of your DAF. Learn more
IRA Charitable Contributions
If you are over age 70½, you may give a gift from your IRA as a tax-free distribution to a qualified charity.
This means an amount (up to $108,000 annually) transferred from your IRA directly to a charity can count toward your required minimum distribution (RMD) without being considered taxable income for you.
Bequests
In the estate planning process, you can designate a beneficiary to receive some portion of your assets in your will. This is a type of planned gift called a bequest.
Charitable bequests are specifically made to a charitable organization. This type of bequest can be a transfer of cash, securities or other property made through your estate plans.
Other Common Options
Retirement Plans & Life Insurance Beneficiary Designations: Donors can name a nonprofit as the beneficiary of their life insurance policies or unused retirement assets. These retirement assets can include individual retirement accounts (IRAs), 401(k)s, 403(b)s, and pensions.
Charitable Gift Annuities (CGAs): Donors give an irrevocable gift of cash or securities to a nonprofit in exchange for a fixed income payment for a set term or for life. The donor can take an immediate tax deduction while the nonprofit invests and grows the funds.
Charitable Lead Trusts: When donors make a gift through a charitable lead trust, the nonprofit secures a fixed income stream for a specific term length or the donor’s lifetime. When the term ends, the assets return to the donor or their beneficiaries instead of the nonprofit.
Charitable Remainder Annuity Trusts: The donor contributes cash or appreciated securities. They then receive a fixed income based on a percentage of the initial assets used to fund the trust. The nonprofit can invest the funds, while the donor can avoid capital gains or estate taxes. At the end of the annuity trust’s term, the remaining balance goes to the nonprofit.
Appreciated Assets: Donations of appreciated assets most commonly consist of stock, cryptocurrency, and property.
Have you already included VLS in your planned giving?
If you have already made a gift or included VLS in your planned giving, please let us know by completing and returning the Planned Giving Intention Form. We would like to thank you, and if we are aware of your plans, we can ensure that VLS fulfills your gift exactly as you intend. Please do not hesitate to contact us with any questions or concerns at info@veteranslegalservices.org or (857)317-4474.
Veterans Legal Services does not provide tax or accounting advice. This material is for informational purposes only and is not intended to be tax, legal or accounting advice. Consult a tax professional to determine your particular tax benefits that may result from any particular type of gift to charity.