1. What is planned Giving?
Planned Giving (also known as “Gift Planning) is a way of giving to charitable causes and institutions through financial estate, and tax planning.
2. How can Planned Giving benefit me?
Planned gifts often are designed to increase a donor’s income, provide for successive heirs, reduce taxes, better utilize a highly appreciated asset, or some combination. Also, planned gifts are often among the largest contributions an individual will make to a charity. With the right planning you can make a gift that provides for you, your heirs and future generations of senior in the Boulder Community all at the same time.
3. Do I need an attorney or financial advisor to make a planned gift?
We recommended that you consult with qualified advisors such as a Certified Financial Planner and/or an attorney who specializes in estate planning when you are considering making a planned gift. Our planned giving office can also offer you additional information regarding a planned gift that best meets your objectives.
For a list of financial planners in our area, please follow this link.
For information on planning attorneys, please follow this link to the Colorado Bar Association.
4. What kinds of assets can I use to make a planned gift?
Nearly any asset can be used to make a planned gift including:
• Stocks, bonds, and mutual funds
• real estate
• life insurance
• IRAs or qualified retirement plans
You can make the gift while you are alive or through your will or testamentary trust. The asset you use and the way you make the gift depend on your goals and needs.
5. Do I receive a tax deduction for my planned gift?
Planned gifts can produce immediate income tax deductions as well as reductions in capital gains, inheritance and estate taxes. It all depends on what giving technique you select and the type of assets you will use to fund your gift. In any case, there can be some complications in good tax planning, and it is important that you take the right steps to maximize your deductions. You should consult with a tax advisor to avoid pitfalls and reap the opportunities.
6. Can I get lifetime income from a planned gift?
You have the option of making a gift that returns income to you, your spouse, or other individuals, with a charitable gift annuity or a charitable remainder trust. Golden West Foundation offers charitable gift annuities and we can help assist with the creation of charitable remainder trusts.
7. How can I make a planned gift without any cost to me now?
You can provide a bequest for the Golden West Foundation in your will or living trust. Naming the Golden West Foundation as a full or partial beneficiary of your life insurance policy, IRA or retirement plan (link to other ways to give page) is easy because all it requires is filling out a “change of beneficiary form” which can be provided by your insurance or plan administrator.
8. How can I learn more?
If you have questions about the Golden West Foundation or how you can support us, please contact John Torres at email@example.com or at 303-939-0897.