Planned giving to The center for Grieving Children

Planned Giving to The Center for Grieving Children

“I wish I could do more…” Now, you can…

In Maine, we are blessed to be a generous community surrounded by many worthy organizations that provide support to our children, teens, and their families. It can be a challenge to give as much as you would like. Fortunately, with the help of a professional advisor, there are ways to give more now and benefit financially in the process.

While tax benefits are rarely the primary motive for giving, you should consider the opportunities for gift enhancement available in the tax structure. By carefully selecting the appropriate method for your situation, you can help The Center accomplish its goals and create a legacy for generations to come. A few methods are described below and we encourage you to consult with your personal financial advisor for the strategies best suited to meet your goals.

Note: Changes in the tax laws may alter information given here. Consult your tax advisor for up-to-date information and the best solution for your situation.

LIFE INSURANCE
Gifts of life insurance policies may be made to The Center. When a fully paid-up policy is given, its value and, therefore the amount of the your tax deduction is measured by the policy’s replacement cost.

REAL ESTATE AND PERSONAL PROPERTY
Land or other real estate may offer excellent opportunities for a substantial gift to The Center. Gifts of valuable property, such as works of art, rare stamps or coins, antiques or jewelry, qualify for tax deductions at fair market value, up to 50% of the your adjusted gross income under certain criteria. These types of gifts would need to be discussed with The Center’s Board of Directors and your financial advisors.

Giving Into the Future

BEQUESTS
We all mean to do it, but 74% of us do not have a will. A properly prepared will can result in significant tax savings and will clearly outline your wishes and instructions. To make a direct contribution in your will, you need to state the following, “ I give, devise and bequest the sum of $_____ to The Center for Grieving Children in Portland, Maine, to be used for the general purposes of The Center” or “I give, devise and bequest to The Center for Grieving Children in Portland, Maine, all (or___% of the rest, residue and remainder of my estate to be used in, to be used for the general purposes of The Center.” This is often the easiest planned gift to arrange and we hope that you would contact us if you do put us in your will.

LIFE INCOME GIFTS
Donors who wish to make a significant gift to The Center without losing income from specific assets, may decide upon a deferred gift. A planned gift is one made in trust to The Center, with income or other benefits from the asset retained by you, or other beneficiary, for as long as they live (and possibly beyond). When the trust ends, the remaining assets become the property of The Center. One popular form of deferred giving is the Charitable Remainder Trust. The benefits can include a marked reduction in capital gains tax liability, a reduction of income and estate taxes, and some options that may provide income to you for your lifetime.

The benefits of these trusts can be substantial but it is critical to consult a professional advisor.

All of us at times wonder what is happening to the world we live in. No matter what your personal circumstances are, all of us can make a difference by reaching out with our time, love, energy and resources to support the values we believe in. The personal satisfaction in supporting The Center can be enhanced if additional personal objectives can be achieved at the same time. Charitable incentives in the tax structure offer many opportunities for assisting The Center in reaching its goals while protecting or even enhancing the economic security of you and your immediate family. We hope you will consider the best financial avenue for you to support The Center for Grieving Children – Where love really counts.

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