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Planned giving, simply put, is the process by which a person creates an estate plan where they choose to give something of value to Next Step Women’s Center at a future date. Usually, this is a gift that is given through a will so that the organization will get the donation at the time of the donor’s passing.

 

This gift ranges from cash to stocks, IRAs, cryptocurrency, or even through life insurance. The gifts donated through a will end up being larger and aren’t dependent on a donor’s current income.

 

What this means is that planned giving is not limited by a person’s financial standing. Instead, planned giving enables a donor to give a gift that they could not ordinarily make.

 

For more information, contact Nicholas Lengyel at nicholas.lengyel@nextstepwc.com

 

What type of Planned Gifts do we accept at Next Step Women’s Center?

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• First, outright gifts that use appreciated assets. i.e., Stocks, QCDs, IRA Designations

• Second, gifts are payable upon the donor’s death. Wills, Insurance, IRA, Trust beneficiary

 

What Are the Tax Benefits of Planned Gifts?

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• Donors can contribute appreciated property, such as securities or retirement accounts. The donor would receive a charitable deduction for the full market value of the asset, and also not have to pay any capital gains taxes on the gift. This type of gift can also be done while living.

• A donor who makes a bequest to Next Step Women’s Center death through beneficiary designation in their life insurance policy or retirement account will not receive an income tax deduction, but they are exempt from estate tax. Plus, they have the added benefit of not passing through probate.