Planned gifts create opportunities for both The Water Conservation Garden and its donors. A planned gift to The Garden can guarantee that you and your family leave a lasting legacy for The Garden and the community. Through gift planning, you can make charitable contributions to support your own personal objectives while minimizing after-tax costs to the extent allowable by law.
Determining what gift is right for you is just as important as making the gift. The best plan for you will balance what you wish to accomplish for yourself, your family, and your charitable interests in your overall estate and financial plans. We offer numerous options to donors considering planned gifts to The Garden:
Through a simple provision in your will, you can make a gift to The Garden which may offer reductions in your estate taxes. Gifts may be for a specific dollar amount, a percentage of the total estate or the residuum after debts, taxes, expenses, and other bequests have been paid. Specific bequests of property such as tools, vehicles, equipment, or real estate (under certain circumstances) may also be made. The Garden’s needs change over time, so unrestricted bequests are especially appreciated, although you may designate your contribution for a particular purpose.
Charitable Gift Annuities
With a gift annuity, you simultaneously make a charitable gift and provide guaranteed payments for life to you and/or another person. The fact that you are making a charitable gift may entitle you to deductions in income, gift and estate taxes.
Deferred Gift Annuities
This annuity appeals to younger donors in their peak earning periods. There is an immediate tax deduction for the gift, but the annuity payments do not start until a future date (usually upon retirement), thereby providing extra retirement income on a potentially tax-sheltered basis.
Charitable Lead Trusts
Charitable lead trusts are good tools through which to make significant gifts of assets that generate an income for The Garden. Income from these assets flows to The Garden for a designated period of time (typically ten to twenty years or more). At the end of that time, the assets are returned to you, your heirs or any other persons designated. This method of giving allows you to direct a sizeable amount of annual income to The Garden while guaranteeing that your heirs will ultimately benefit from the asset.
Charitable Remainder Trusts
Charitable remainder trusts may provide you certain tax benefits and a return on the trust assets. After your lifetime, the remainder of the trust transfers to The Garden for purposes that you have specifically designated.
The Garden accepts gifts of life insurance, preferring that they be in the form of paid-in-full policies. You may choose to name The Garden as the beneficiary (or a contingent beneficiary) of a life insurance policy, retaining lifetime ownership and control of the policy, which may create tax benefits for your estate; or you may wish to transfer ownership of a policy to The Garden. If you make The Garden the owner and beneficiary of a policy, you may be entitled to certain tax advantages.
Retirement and Pension Plans
You may make a charitable gift to The Water Conservation Garden through your current retirement plan. Income and estate taxes may substantially reduce certain retirement plan assets but many of those taxes can be significantly reduced or eliminated through a properly planned contribution of the retirement plan assets to The Garden. There are many options, depending on your personal circumstances. Tax law applicable to retirement/pension plans can be complex and subject to continued change, so be sure to consult your tax, legal or financial advisor before making any decisions.
Real property that has appreciated in value over the years may, if sold, incur a sizable capital gains tax. Under certain circumstances, it may be mutually beneficial to gift the property to The Garden, eliminating capital gains taxes altogether. Please note that not all gifts of real estate can be accepted by The Garden and those that are accepted will, under Garden policies, be marketed for immediate sale.
Tangible Personal Property
Gifts of tangible personal property such as art, antiques, collections of rare items, and jewelry, are also welcome. The Garden is available to assist with these transfers expeditiously.
Of course, everyone’s personal circumstances are different, so please consult your tax, financial and/or legal advisor concerning the use of all these tools. The Garden is grateful for your support! If we can assist you in any way, please contact us at (619) 660-0614.