Help support the Humane Society with a Planned Gift
With a planned gift to the Humane Society for Greater Nashua, you can combine your desire to give to charity with your overall financial, tax, and estate planning goals. Your planned gift gives you a special connection with our animals. You will help those in need for now and for years to come.
Many people developed their estate plans and already have given through a bequest in their will, Charitable Remainder Trusts, Charitable Lead Trusts and gifts of Life Insurance or other Retirement Plan Assets. Many of you still have the opportunity to do so. These gifts are a sound investment for you, your family and our animals.
Planned Giving Opportunities
Charitable Remainder Trust
By transferring highly appreciated low-yield property into a Charitable Remainder Trust, you can bypass capital gains taxes, increase your income, and enjoy a charitable income tax deduction that could significantly reduce your current income taxes. After your lifetime, or a term of years, the principal remaining is your gift to the Humane Society. For example, you might transfer a trust stock that originally cost $25,000, but now has a fair market value of $100,000 and a current yield of 3%. If you select a 7% payout rate, you will increase the annual income from your investment from $3,000 to $7,000. You will also bypass the $75,000 gain and receive a substantial income tax deduction.
It is important to note that a trust pays a variable income based on a percentage of the fair market value of the trust assets, as revalued annually. You choose the payout rate based on your own needs. A low rate allows the trust assets to grow more rapidly, providing you with the opportunity to increase your future income.
Charitable Remainder Annuity Trust
An annuity trust pays a fixed income based on the percentage you choose, and the value of the assets when the trust is established. For example, if you establish a 7% two-life annuity trust with assets of $100,000, you and your spouse would receive $7,000 each year for the rest of your lives.
Charitable Gift Annuity
Like the charitable remainder annuity, a charitable gift annuity pays you a fixed dollar amount for life, or for a term of years. The amount is determined at the time of the contribution and is based on your age and, if you have designated another beneficiary, on his/her age as well. For senior citizens, annuity rates may be 8% or 9%, or even higher. Part of the annuity payment is tax-free, and the initial charitable deduction offers substantial income tax savings.
Deferred Gift Annuity
With a deferred gift annuity, you can defer the receipt of income until a later date. This offers several benefits: your annual income will be higher when payments begin, and the contribution secures a larger current income tax deduction.
Gifts That Allow You to Keep Your Assets
Retained Life Agreement
This agreement allows you to continue to live in property you own for life while receiving a substantial tax savings today. You would simply retain the use of your home and deed the remainder interest in the property to the Humane Society for Greater Nashua so that they will own the property after you pass away. The deduction could save you substantially on your current income taxes, and is especially attractive if you plan to transfer property by will.
Charitable Lead Trust
A charitable lead trust is the reverse of the charitable remainder trust and functions as a temporary gift, or loan, to the Humane Society for Greater Nashua. That is, instead of paying income to you, the trust pays income to the Shelter for a term of years, before the principal reverts back to you, a family member, or another beneficiary. A lead trust can greatly reduce estate taxes, allowing you to make a significant gift to the Humane Society and ultimately pass more to your heirs.
Contact your accountant, Trust and Estate Lawyer, or send us an email for a list of local attorneys who could help you.
To learn more about planned giving opportunities available through the Humane Society, please contact Douglas Barry, Executive Director, at 603 889-2275 Ext 23 or send him an email.
About the HSFN Legacy Society
It is a newly formed group of people who have made a planned gift to the Humane Society for Greater Nashua. These individuals will be specially recognized at events and invited to a special reception. They will have “behind the scenes” tours of our facility, animal transports and special programs.