Planned Giving

This is an excellent technique for individuals in the highest tax bracket...or those who have sold a business or received a significant bonus and could benefit from an immediate tax deduction.

Perpetuating your gift through a retirement plan is simple, flexible and tax wise. Contact the administrator of your retirement plan to designate United Way Montcalm-Ionia Counties as the beneficiary of your retirement plan. They can also let you know what restrictions might apply.

The benefits of naming United Way Montcalm-Ionia Counties as the beneficiary of a retirement account include:

• Avoiding potential double taxation on retirement fund gifts to heirs (estate tax and income tax).
• Allowing you to continue to draw money out of your retirement account while you are living.
• Providing you with the freedom to change your mind if your situation changes.
• Giving you the satisfaction of knowing that your hard-earned retirement funds will continue to impact people’s lives in our local communities.

A bequest provision can be included in your will when you are creating it, or you can amend your existing will through the use of a codicil. This arrangement provides you with flexibility and control should your circumstances change. You can designate an exact amount or asset or a percentage of the assets in your will.

Free Will is a free tool to create your own will online. Just make sure to designate United Way Montcalm-Ionia Counties.

A split interest gift is really two gifts, one that is present interest and one that is future interest. Typically, the present interest gift is a lifetime flow of income back to the donor. The future interest gift is the amount the charity will receive at the death of the donor. The most popular split interest gift is a charitable remainder trust. It is a gift that returns an income to you, your spouse or another beneficiary you name. Highly appreciated but low yield stock is an ideal asset to use in a charitable remainder trust.

Another “split interest” gift is a retained life estate. This is a way to give away the future interest in your home after your lifetime. You continue to enjoy your home while you are living. Perhaps you own a home or vacation home that your children have no interest in inheriting. You can create an irrevocable provision to retain the use of your home during your lifetime...and give the remainder interest to United Way Montcalm-Ionia Counties at your death. You receive a current income tax deduction for the remainder interest and remove the home from your taxable estate.

If you would like to benefit from interest that is higher than you can obtain from CDs and money market accounts, a charitable gift annuity is an excellent gift option, especially if you are over 60 years old. You would receive annuity payments for life and the remainder of the gift would benefit our community through United Way. The projected amount of the gift that would go to United Way Montcalm-Ionia Counties is tax deductible.