Planned Giving
A "planned gift" is a gift you plan today that happens at a later time (usually upon your death). Several methods of making a planned gift to GFA are outlined below:
Testamentary Bequest
Through a charitable bequest in your will or living trust, you can leave cash or property to meet a specific need, while possibly saving estate tax dollars.
Life Insurance or Retirement Plan
If you have a life insurance policy you no longer need or if you wish to purchase a new one, you can designate GFA as the owner of one of the beneficiaries of that policy. You also can make the same designation for an IRA or 401(k).
Charitable Gift Annuity
In exchange for a gift of cash or other property, you can receive a fixed income for your lifetime, often at a rate higher than those offered by banks on CDs or money-market accounts.
Charitable Remainder Trust
This type of trust can provide you an income for a specified time. At the end of that time, the remaining assets go to GFA. You can also obtain an income tax deduction for your gift and even minimize or avoid capital gains tax.
For more information, we invite you to call the GFA home office at 864-609-5500. Because your tax situation may be unique, always consult your attorney, tax advisor or financial advisor about the plan best suited to meet your needs.