Thank you so much for considering Holocaust Remembrance Association (HRA18) in your legacy giving. We rely solely on voluntary gifts from those who share our vision to see the world inspired to stand in solidarity against persecution, prejudice, and indifference.
There are many ways to make a gift to HRA18, and as you consider your options for cash gifts, estate gifts, or any other potential long-term strategies, we encourage you to speak with your financial adviser about the ways in which you might proceed. Planned giving often requires complex transactions with significant legal and tax implications, and we suggest that you consult experts in tandem with HRA18 in order to design a giving strategy that best meets your goals and objectives.
There are a number of planned giving options that enable your estate to benefit you, your heirs, and HRA18. Advantages for you and your estate can include:
- Reduce estate taxes
- Provide HRA18 an income stream for the life of donor
- Enable you to make a much larger gift
- Receive an income tax deduction
- Reduce or avoid capital gains taxes
Some of the planned giving options available to you include:
Bequests and Trusts
A bequest is a transfer of cash or marketable securities through a will or a living or revocable trust. Your bequest can be a gift of a specific dollar amount, a specific piece of property, a percentage of an estate, or all or part of the residue of an estate. You can also name HRA18 as a contingent beneficiary if someone named in your will is no longer living at the time of your passing.
You can name HRA18 as the beneficiary of your 401(k), IRA, Keogh, or other retirement plan. Your heirs will also avoid a twofold taxation on retirement plan assets.
Naming HRA18 as a beneficiary of your life insurance policy is an excellent way to make a major gift. If you are carrying more life insurance coverage than your obligations require, consider naming HRA18 the irrevocable owner and beneficiary of your surplus policy. The gift of a fully paid policy produces a charitable deduction in the amount of the policy’s cash surrender value with no additional cost to you. You may also designate HRA18 as a revocable beneficiary, or transfer ownership of the policy to HRA18. With a transfer, you can immediately deduct the current value of the policy from your income taxes, and if you are still paying premiums, you can deduct the cost of those premiums each year.
You can name HRA18 as the beneficiary on your bank account, U.S. savings bonds, or U.S. Treasury securities. Your bank can set up a “Totten Trust,” which is an informal arrangement that keeps you in control of your assets during your lifetime. Your accounts do not enter probate and your assets automatically pass to HRA18.
Charitable gift annuities, charitable remainder trusts, charitable lead trusts, and other vehicles for planned giving can reduce your potential tax liability and allow you and your heirs more flexibility in your giving.
A donor-advised fund is an investment account established by you exclusively for charitable gifts. Contributions to the fund are tax-deductible and the assets in the donor-advised fund grow tax-free. You may make grant recommendations to a variety of local or national nonprofit organizations, and your intent for charitable giving is respected during and after your lifetime.