There is no better time than now to demonstrate to your own children that it is a family priority to provide for the needs of the vulnerable and forgotten -- orphaned children at high risk of sexual and economic exploitation. Your planned gift also will communicate that philanthropy is not just for the rich and famous, but an opportunity available to all.
With a planned gift, you can:
- Take care of the financial needs of your family first
- Provide an inheritance for your loved ones while possibly paying less estate tax
- Reduce your income tax and even avoid capital gain taxes
- Diversify your investment portfolio
- Increase your income and effective rate of return
- Leave a legacy without giving up assets during your lifetime
- Make a larger gift than you thought possible
Choose the gift that is right for you
Bequests by Will or Trust
One of the simplest planned gifts is a bequest through your will in you which designate either a specific dollar amount or a percentage of your estate after other disbursements. In addition to supporting Asia’s Hope, it serves as an example to your heirs of the values and ideals you hold dear. A bequest also can reduce the amount of your taxable estate, which may increase the actual amount available to loved ones.
Retirement Plan Assets
Naming Asia’s Hope as a beneficiary of your retirement funds, such as Section 401(k) and 403(b) plans (in the United States), is a simple and “tax-wise” way to benefit the ministry. Retirement plan assets can be contributed directly to Asia’s Hope at death by naming Asia’s Hope as a beneficiary on a beneficiary designation form from your retirement plan administrator. You can designate a stated percentage or dollar amount.
A gift annuity is an agreement between you and a ministry partner that pays you a fixed dollar income stream during your life/the life of a designated loved one. The amount of your deduction is determined by the size of your gift, your age and the age of you or your beneficiary. Your income is guaranteed regardless of market fluctuation. A major portion of your income is a tax-exempt return of principal, and the income may be deferred until a later time as part of your retirement plan. Asia’s Hope receives the remainder of the gift.
You may consider a gift of whole life, universal, and other forms of permanent life insurance to Asia’s Hope. These options can allow you to make a larger gift without a major cash outlay. Tax benefits will vary depending on the type of policy and your specific financial situation.
Charitable Remainder Trusts ensure a lifetime income for you with Asia’s Hope as the ultimate capital beneficiary. Charitable Lead Trusts could be ideal for making an immediate gift to Asia’s Hope and then at termination of the trust pass assets on to your heirs.
If you're interested in talking to us about how your family and Asia's Hope can benefit from your planned gift, please contact Keith Wong, our planned giving coordinator.