Leave a Legacy at Family House. Through planned giving, you can make a powerful contribution for future generations. Let Family House guide you to a strategy that fulfills your philanthropic goals and provides lasting financial and estate planning benefits for you and your family, while supporting Family House’s important mission. Below are a few examples of Planned Giving available to you:
Bequest. Making a gift to Family House through your Will allows you to support an important organization, without affecting your current circumstances. Some of the ways to make a gift through your Will:
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- Make an unrestricted bequest leaving a portion or all of your estate.
- Make a bequest to an existing fund at Family House
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Life Insurance. Life insurance provides significant leverage when gifting it to a nonprofit organization, making it possible to donate a significant amount at a relatively small cost. When you make Family House the owner and beneficiary of a life insurance policy, you become eligible for an income tax deduction. Here are the most common methods for gifting life insurance to Family House:
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- Name Family House as primary beneficiary or as your successor beneficiary.
- Donate a new or existing policy to Family House
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Retirement Funds: IRAs and 401Ks. Not all assets that you own are treated the same when passed to your heirs. In fact, a unique feature of tax-deferred retirement accounts is that your heirs pay income taxes on the inherited assets at their income tax rate at the time of distribution. Nonprofit organizations do not pay income taxes on distributions of these assets, which means every penny of your donation can be directed to support your charitable goals. You can gift these assets to Family House with the following options:
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- Name Family House as a 100% beneficiary of an account.
- Indicate that Family House is a beneficiary of a certain percentage of the account and the remainder can go to individual beneficiaries.
- Name Family House as a contingent beneficiary so that if a primary beneficiary doesn’t survive you, it works toward your charitable goals.
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