Last Updated on Wednesday, 25 June 2014 14:32 Written by OISadmin Wednesday, 25 June 2014 14:29
Planned gift opportunities in support of FOCUS North America
Planned giving presents opportunities for individuals to make lifetime commitments in support of FOCUS North America while reducing and/or eliminating income and estate taxes on the transferred assets. Many individuals choose to honor or memorialize loved ones through the establishment of named restricted accounts or endowments that are funded by their planned gift commitments. If you are interested in benefitting FOCUS North America (FOCUS), we ask that you consider the common planning techniques presented below.
Gifts made through wills and trusts. Bequests can be made as a specific dollar amount, a percentage of the total estate, or a percentage of the residue of the estate. By designating FOCUS as an estate beneficiary, estate taxes are avoided on the donated assets.
Bank accounts, certificates of deposit, insurance, retirement plans (such as 401k, IRA, pension, profit sharing) are all great options for giving to FOCUS. By designating FOCUS as a charitable beneficiary on these assets, income and estate taxes are avoided.
Retirement Plan Assets – While retirement plan assets provide for a financially secure future, at death, such accounts are often subject to both income and estate taxes. These taxes can be avoided or reduced by listing FOCUS as beneficiary of all, a specific amount, or a percentage of your retirement assets. You can establish a gift of retirement plan assets by simply completing a beneficiary form provided by your retirement plan administrator.
Life Insurance – Gifts of life insurance can be made by the donor contributing an existing policy, or by purchasing a new policy with FOCUS listed as owner and beneficiary. By designating FOCUS as both owner and beneficiary of an existing policy the donor receives an income tax deduction equal to the policy’s fair market value or the net policy premiums the donor has paid, whichever is less. Donors also benefit from transferring life insurance to benefit FOCUS by removing the asset from their estates and thus avoiding potential estate tax liability.
The Legacy Society honors donors who demonstrate their deep commitment to FOCUS through the establishment of a planned gift commitment. Legacy gifts are recognized during a donor’s lifetime and a gift of any amount qualifies individuals for membership.
For more information:
If you would like to receive additional information, or if you have already included the FOCUS within a planned gift arrangement and wish to become a member of the Legacy Society, please contact:
600 N. Bell Ave., Suite 115
Carnegie PA 15106
Toll free: 1-866-267-3083
Disclaimer: FOCUS North America, its board members, officers and employees do not render legal or tax advice. Prospective donors should consult their independent legal counsel and financial advisors when considering a charitable gift.