There are many ways of giving to Hospice of Orleans while protecting and enhancing your financial situation. Careful planning is the key. To ascertain which type of gift is most appropriate for you, it is important to consult with your professional financial advisor and/or attorney, as tax laws change.
- Give appreciated securities
By making a gift of appreciated securities, you can save income twice. First, you save by receiving a charitable deduction for the current value of the stock. Second, you can save by eliminating the payment of a capital gains tax on the stock’s increased value.
- Give real estate
By contributing appreciated property, you save income tax twice. You receive a deduction for your contribution (the current property value), and you also eliminate the payment of capital gains tax on the property’s increased value.
- Sell appreciated property to Hospice of Orleans at cost
You can sell to Hospice, at cost, securities or property that you have owned for more than one year. Your gift would be the appreciated portion of the asset on which you can avoid paying income and capital gains tax.
- Give your home or farm, while retaining its use for life
You can give your home or farm to Hospice now, and retain use of the property during your lifetime. You receive a current income tax deduction for your future gift and save income tax now.
- Time your gift
If you expect to be in a lower bracket next year, you will save taxes by making your gift this year. Conversely, if you expect to be in a higher bracket next year, you will save taxes by making your gift then.
- Make a partnership gift
A partnership can make gifts to Hospice. Each partner can, in the year of the gift, deduct a share of his/her adjusted gross income with the right to carry over any excess for five years.
- Give gifts that provide income for life
Do you need additional income and own substantial assets? You can give assets to Hospice now and receive additional annual income for life while also saving taxes. A life income gift such as a Charitable Remainder Trust or a Charitable Gift Annuity enables you to give to Hospice and provides life income for you and your spouse. These gifts frequently save income tax and avoid capital gains and estate tax, while providing you with income.
- Give life insurance
Life insurance may be donated to Hospice in a variety of ways. You can make an outright gift of an existing policy no longer needed for protection for your beneficiaries by transferring ownership to Hospice. Or, you may retain ownership, but name Hospice the beneficiary. You may also purchase a new fully paid policy naming Hospice as the beneficiary.
- Make a gift in your will
In writing a will, your first concern, of course, is to provide for your family and those close to you. Then you can consider aiding charitable causes such as Hospice. Often these two purposes are combined to the advantage of both.
When you give to Hospice of Orleans you become a member of the Hospice of Orleans Bequest Society! As a member you will receive recognition on a plaque prominently displayed at the Hospice Residence and Lifetime Membership of Hospice of Orleans, Inc.
For more information contact us at (585) 589-0809.