Create a lasting legacy with a planned gift contribution to Habitat for Humanity of Oakland County. By including Habitat Oakland in your will or trust, you will help fuel our mission of providing homes, communities and hope for generations, as well as combat the housing crisis our friends and neighbors are facing.
Planned giving is easy to do and provides financial and tax benefits for you and your family.
One of the most popular and straightforward charitable giving strategies is the donation of appreciated stock. Funding charitable gifts with appreciated stocks or mutual funds — rather than cash — yields a bigger tax benefit since you can deduct the full value of securities held more than one year without paying capital gains taxes on the appreciation. If you are donating to a tax-exempt organization, it will not pay capital gains taxes.
Donors can donate to the organization of their choice each year in a number of ways. Many donors over the age of 72 choose to donate their required minimum distribution (RMD) on an annual basis. This is what’s called an IRA qualified charitable distribution (QCD), or IRA charitable rollover.
You can transfer up to $100,000 per year from an IRA directly to charity, with the exception of donor-advised funds, and have it count toward your annual required minimum distribution (RMD).
A charitable bequest is a statement in a will that allows the testator (person who made the will) to gift assets to a charity upon their death.
Planned giving is a strategy for choosing to gift an asset in the future that you own today. They are often major gifts and can be made during a donor’s life or upon their death. Examples include appreciated stock, life insurance proceeds, bonds, cash, property, art, etc.
Donors can gift assets to an organization posthumously via their estate. These gifts can be made immediately upon death (bequest via will), over the course of time or at a certain time in the future.
If they are not immediate, it is likely that the donor has language in a trust that allocates a portion of the estate for charitable purposes.
A donor-advised fund is a vehicle that allows a donor to contribute a variety of assets (appreciated securities, mutual funds, life insurance, cash, etc.), claim an immediate income tax deduction for the fair market value of the asset(s) then make grants in future years according to a giving plan. You can boost your tax savings by giving highly appreciated securities.