When an employee makes a donation to a nonprofit, they can request that their employer “matches” their donation. Estate taxes can be reduced if a charity is named as a beneficiary.Īsk your employer if they would consider creating a donation match program and including your chosen nonprofit.There could be potential income tax deductions if you transfer the policy to your charity.You may also consider naming a charity as a beneficiary in your current life insurance policy. Alternatively, you can donate your paid-up policy directly to the charity, or you can even start a new policy naming your charity as the owner and beneficiary. There is no limit on the deduction your estate can claim, and the gift may be exempt from state inheritance taxes.ĭonating appreciated stock is one of the easiest ways to give more to causes you care about. Giving stock often results in a larger donation to the organization, as the gift is tax-deductible and there are no capital gains taxes to pay. Both are deductible for federal estate tax purposes.Loved ones will not be overlooked - you can specify the amount given to each party.It does not affect you financially during your lifetime.You can make adjustments to your will or trust if circumstances change.You can include a bequest provision in your will or living trust that specifies an amount or percentage of your estate that you wish for a charity to receive.
You maintain the use, benefit, enjoyment, and control of your assets for as long as you need them, for as long as you live. Bequests for wills or trustsīequests are simple to implement and easy to change. Looking for ways to contribute to your favorite animal charity, beyond making a cash donation? Here are some generous alternatives to consider when you want to support a nonprofit cause you love.
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