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.

Retirement Plans

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.

Life Insurance

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.

Bank Accounts

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 Trusts

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.

Donor-Advised Funds

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.

If you have questions about setting up a planned gift, or if you have included HRA18 in your estate planning, please contact Mitch Jerome at admin@hra18.org or at 888-546-8111.