Our future depends upon the generosity of donors, volunteers and the funding available through a variety of programs. It is also made bright by gifts made through estate planning, or planned giving. Planned gifts help increase our financial security and ensure continuation and expansion of our services and programs for generations to come.
Gifts to GASA can play an important role in reducing your capital gains taxes, increasing your charitable income tax deduction, and reducing your estate and gift taxes.
To avoid legal challenges and guarantee Guardian Angel receives your bequest, please be sure to use the following language for all planned gifts:
Guardian Angel Settlement Association
1127 North Vandeventer
St. Louis, MO 63113
For more information about estate planning or to request a copy of The Messenger , our publication for financial supporters, contact Kristen Williamson, Director of Development, at (314) 231-3188 x103.
Please note that the information provided herein is not intended to serve as legal or tax advice and is merely provided for your consideration. Please consult with your own accountant and/or attorney to determine the best type of gift for your personal and charitable objectives and to assess the implications of a donation on your individual tax status.
Wills
Your bequest to GASA can be a specified amount of cash, an investment fund or piece of property, a percentage of the entire estate or percentage of a specified investment, or a contingent designation taking effect only if your other beneficiaries fail to survive you.
Being generous in your will or trust is a way to continue your values beyond your lifetime. For many individuals or couples, this helps them achieve their dream of making a “gift of a lifetime.”
Bequests work particularly well if you wish to support GASA but might not have the cash or assets to do so now. It’s easy to include a bequest to GASA directly in your will/trust or in a codicil to your will/trust.
Larger bequests can establish an endowment in which the principal can be sustained while the derived income is used for specific and significant purposes. Through an endowment you can memorialize a family member and/or yourself in perpetuity. If you are thinking of establishing such a gift, please contact us for appropriate verbiage.
Turn Your Good Intentions Into Action
To expedite your good intentions, here is a recommended clause for making an outright unrestricted bequest to Guardian Angel Settlement:
Guardian Angel Settlement Association, a Missouri not-for-profit Corporation, is to receive the sum of (indicate specific amount, percentage or “rest and residue” of the estate). This bequest is unrestricted, and the Board of Governors or other governing body may use and expend the same for the benefit of Guardian Angel Settlement Association, in any manner it deems appropriate.
The preceding clause, of course, is only a suggested example. Always consult your attorney for specific legal advice.
Should you wish to make a bequest to Guardian Angel Settlement Association that is restricted to a specific purpose, such as an endowment, program or service area, please contact us for examples of appropriate wording.
Trusts
Revocable Living Trusts are not subject to probate. They remain private and avoid public scrutiny. When you die, a trust will save time, expense, publicity and frustration for those you love. Trusts also assure seamless administration of your assets at your death or in the event you become incapacitated.
Charitable Remainder Trusts enable you to contribute to Guardian Angel Settlement Association and receive guaranteed payments for life or a period of years through a trust designed by you with the help of your lawyer. Payments may either be a fixed amount or a fixed percentage of the trust assets. A Charitable Remainder Trust offers gift, estate and income tax benefits. Because you design this trust yourself, it is more versatile than a Charitable Gift Annuity.
The reverse of a Charitable Remainder Trust, a Charitable Lead Trust will pay Guardian Angel Settlement Association income during your life, someone else’s life, or for a fixed number of years. Your beneficiaries will receive the remainder. You will be able to design the trust to fit your particular needs. Charitable Lead Trust assets are not taxable in your estate when you die, thereby providing valuable income, gift and estate tax benefits.
Charitable Gift Annuities
A Charitable Gift Annuity allows you to contribute to Guardian Angel Settlement Association and receive guaranteed payments for the rest of your life or for the joint lives of you and your spouse or another individual. You will receive an income tax deduction when you make the gift and valuable tax benefits each year. Guardian Angel Settlement Charitable Gift Annuities are available for a minimum contribution of $10,000.
Rates vary by the age of the contributor.
Life Insurance
Benefits from life insurance owned by you at the time of your death will be included in your estate. If you designate Guardian Angel as the beneficiary, your estate will receive an estate tax deduction equal to the full amount of the insurance benefit. You can donate an existing policy and receive a tax deduction for the current value now.
Real Estate
No gift of real property shall be accepted without first being appraised and examined for potential liability under environmental impact laws. Guardian Angel Settlement Association reserves the right to reject any gifts of real property.
Bequests: Real Estate may be donated to Guardian Angel Settlement Association by providing specifically for it in your will. Real Estate donated to Guardian Angel Settlement Association upon your death escapes estate taxation.
Retained Life Interests: You can donate your home or farm to Guardian Angel Settlement Association while you are living, receive a tax deduction and retain the right to live in or use the property for the rest of your life.
Personal Property
You may provide for the bequest of personal property such as jewelry, collectibles or vehicles to Guardian Angel Settlement Association in your estate plans. Special rules apply when making planned gifts of personal property, so please be sure to consult your attorney as well as Guardian Angel Settlement before making such provisions.
Retirement Benefits
Assets in your 401(k), pension, IRA or other retirement plan will be subject to estate and income taxes when you die. They may also be subject to generation-skipping taxes. This double, or triple, taxation means your beneficiaries could potentially receive less than 20% of your retirement assets! If you name Guardian Angel Settlement Association as the beneficiary, there will be no taxes.
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