For people who have come to understand the long-term benefit of LifeSpan, the LifeSpan Legacy Society represents an opportunity to underwrite LifeSpan’s positive influence on your community for generations to come.
While long-term financial stability is the goal of the Legacy Society, we do not ask for funds now, but respectfully request that you consider including LifeSpan in your long-range financial plans. You may find that tax advantages can increase the value of your estate by making arrangements now.
Here are giving options that may interest you:
Wills & Bequests
A gift to LifeSpan by Will permits you to retain all your assets during your lifetime and/or the life of your spouse. Designations may be for a percentage of your estate or for a specified amount.
A Charitable Trust can provide income to you and your spouse for as long as either of you lives. Thereafter, the trust principal will go to the LifeSpan Endowment Fund. You may name other Charites as principal recipients as well.
Charitable Gift Annuities
When you transfer cash or securities of more than $10,000 to the LifeSpan Legacy Society at The Hamilton Community Foundation, the annuity would guarantee you a fixed stream of income for life. The income would flow to you (and to your spouse, if you desire), after which the remaining principal of the annuity becomes a gift to LifeSpan. This provides a current income tax savings and possible capital gains savings.
When the added protection of an insurance policy is no longer needed, transferring the policy’s ownership to LifeSpan can result in tax benefits for you and a generous gift to support our mission. LifeSpan can also be included as a beneficiary, contingency beneficiary or owner of a new or existing policy.
Charitable Lead Trust
A Charitable Lead Trust can be appropriate if you have ample income now but desire to retain ownership of the trust principal to meet future financial goals for your family. Income will be directed to the LifeSpan Legacy Society for the specific term of the trust, after which time the principal will return to you or your designated survivors.
For those who may have significant retirement plan assets, potential estate and income taxes on any part of those assets that might still be in one’s estate at death can be avoided by making the LifeSpan Legacy Society the beneficiary of any unused plan assets. This could reduce taxation by as much as 85%.
The IRA Charitable Rollover is now a permanent provision of the Tax Code that allows people age 70½ and older to make direct transfers totaling up to $100,000 per year, per individual, to qualified charities, without having to count the transfers as income for federal income tax purposes.
Donor Advised Fund
Donor Advised Fund (DAF) Direct currently facilitates grant recommendations from donors of Fidelity Charitable®, Schwab Charitable®, Greater Kansas Community Foundation®, and the BNY Mellon Charitable Gift Fund®. More national and community foundation DAF sponsoring organizations may be added in the future.
Contact your estate planner to get started.