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Estate Planning
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By making a planned gift, you
also have an opportunity to enroll in Friends
Forever, a unique program through which OHS will receive,
care for, and place into new homes all pets who survive you. |
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Planned Giving
Making a planned gift to OHS is a meaningful way to carry forward
your compassion and concern for animals. Additionally, this type
of giving may help you achieve specific financial goals, such as
reducing or eliminating certain tax liability.
We would be glad to discuss any planned giving option with you
- in confidence and without obligation.
Contact: Gary Kish, CFRE
Development Director
(503) 416-2988 phone
(503) 285-0083 fax
email
There are several planned giving options:
The information provided is general in nature and not
intended as legal advice. You may wish to consult with an attorney
or tax advisor to determine which giving opportunity is best for
you.
Bequests
Perhaps the most straightforward planned giving option is to make
a
bequest in your will. Regardless of your age or financial status,
a will is essential to ensure that your property is distributed
according to your wishes instead of the arbitrary laws of the state
in which you live.
Bequests made through your will may take various
forms:
- Specific Bequest: Directs a specific dollar
gift or property to
pass to OHS
- Percentage Bequest: Designates a percentage
of the total value of
the estate as a gift to OHS
- Residual Bequest: Directs that OHS receive
the remainder of the
estate, or a portion of the remainder, after all expenses and
other bequests have been made.
A bequest to OHS is not subject to Federal or estate taxes, and
there's no limit on the amount of the deduction. Most importantly,
your bequest to OHS will help ensure the organization's ability
to provide care and protection for animals in future years.
Charitable Gift Annuities
Stock market volatility keeping you awake at night? An OHS Charitable
Gift Annuity might be the perfect answer for you, providing a source
of secure, fixed income for life. Now, that should help you rest
easy!
An OHS Charitable Gift Annuity for one-life may be established
with a minimum of $5,000 and provides an immediate tax deduction
(as well
as lifetime income for the annuitant). Gift annuities may be a good
option for donors age 65 and older.
Charitable Remainder
Trusts
A charitable remainder trust is one of the more complex estate
planning options but provides the donor greater flexibility. CRT's
can be a very good choice for those who own significantly appreciated
assets (such as rental property) and want to receive income for
life. The donor transfers the asset to the trust, where it is sold,
avoiding capital gains tax. The proceeds are invested with the donor
or other beneficiary receiving payments for life or a
set term. At the end of the trust's life, the remaining principal
is gifted to OHS.
To set up a Charitable Remainder Trust, please consult your attorney
or estate planner.
Charitable Lead Trusts
This type of trust is opposite of the Charitable Remainder Trust.
The donor agrees to give an asset to OHS for a set number of years.
At the end of the term, the asset is then transferred to specified
family members at a reduced gift and estate tax rate. A Charitable
Lead Trust can be set up during your lifetime or through your estate
plans. While the trust will not provide you with an immediate income
tax deduction, you can exclude the trust's income from your own
income, thereby reducing your taxes.
A Charitable Lead Trust may make sense for donors who exceeded
the
annual limits on income tax deduction for charitable gifts. To set
up a Charitable Lead Trust, please consult your attorney or estate
planner.
Naming OHS as a Beneficiary
If you have a life insurance policy that is no longer needed to
provide for dependants, consider making OHS the beneficiary. This
may enable you to make a significant gift to OHS without using any
of your estate's capital. A further option is to make OHS both the
beneficiary and owner of a paid-up policy. Doing so will earn you
an immediate tax deduction equal to the policy's cash value. Contact
the policy's issuing agent for instructions.
Some assets, such as IRAs, Keogh Plans, and other qualified retirement
plans, do not pass directly through your will and require you to
name a beneficiary. Consider making OHS a full or partial beneficiary.
Such plans can be excellent choices for charitable gifting because
they are taxed more heavily than other assets—sometimes greater
than 60 percent. However, by making OHS the beneficiary, the full
value of the account will pass to OHS to be used to benefit the
animals.
A relatively easy planned giving option is to buy a Certificate
of Deposit (CD) at your local bank and name OHS as the beneficiary,
payable-on-death. The CD can remain on deposit earning interest
until the holder's death, then OHS would receive its value. Make
sure the CD you buy automatically rolls-over and maintains the beneficiary
designation.
Gifts of Property/Real
Estate
Gifts of appreciated property can be given to OHS through a donor's
will or living trust. The donor would receive an estate tax charitable
deduction for the full value of the property; however, a qualified
appraisal (obtained no earlier than 60 days before you make the
gift) is necessary to substantiate your income tax deduction.
Making OHS the Successor
Interest of a Contract
Perhaps you're receiving payments from the sale of a business or
real estate or are receiving royalties? You may be able to designate
OHS as the successor interest to receive any payments that continue
after your death.
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