Planned gifts allow you to arrange for a donation now that will benefit PACTT in the future. Many of these arrangements can have tax benefits, and some can even increase your lifetime income or provide income for your loved ones. Here are some examples.
Arrangements that Provide Income to You or Your Loved Ones
By setting up a special trust or annuity, you can establish an income stream for yourself or your loved ones while benefiting PACTT and reducing taxes. In some cases you can start with a specific amount and continue to make contributions in subsequent years. A charitable remainder trust allows you to fund a trust that provides you or your loved ones with payments over life and give the balance to PACTT. A charitable gift annuity allows you to make a gift to PACTT while retaining a fixed income for your life or the life of a loved one. A charitable lead trust allows you to fund a trust that pays PACTT the income for a certain time, and then returns the trust assets to you or passes them to your heirs. The tax benefits of these arrangements include an immediate tax deduction for the value of the gift to PACTT, as well as potential capital gains, estate and gift tax savings.
A bequest is a provision in your will or revocable living trust that names PACTT as the recipient of a fixed sum of money, or a percentage of your assets, or a specific asset. A charitable bequest can eliminate or reduce estate taxes and in some cases income taxes due at death. Bequests are flexible because you may change your mind if circumstances change.
Naming a Beneficiary
You may name PACTT as the beneficiary of an insurance policy, a retirement account, a certificate of deposit or your U.S. savings bonds simply by filling out a beneficiary designation form or a payable-on-death statement. Your assets remain available for your support during life, and at death your estate may be eligible for income tax deductions and a reduction in the estate tax. As with a bequest, if circumstances change, you may change the beneficiary designation.
To learn how these philanthropic vehicles apply to you, consult with your attorney or financial advisor.
For ways that PACTT can assist you with your plans, please contact:
PACTT Development Office