All individuals who arrange a planned gift(s) to the Humane Society of Broward County are recognized as a member of our Legacy Club. Each year, Legacy Club members are honored with a special luncheon. Furthermore, donor names are listed on a permanent plaque located on the Humane Society of Broward County’s Donor Wall.
There are many ways that your philanthropic gifts can blend with your own financial needs and tax planning, so explore the possibilities and opportunities for creative gift planning. Planned gifts include bequests through your will, life income gifts, gifts of life insurance, charitable lead trusts and gifts of retirement plans. They are arranged by you legally during your lifetime. The principal benefits accrue to the Humane Society of Broward County at a later time, after your death or the death of your last named beneficiary.
Planned gifts take many forms, providing additional income for you and/or your heirs, reducing income and estate taxes, relieving you and your heirs of complicated financial management responsibilities and helping to fulfill your personal, humanitarian and charitable objectives. Planned gifts can be made in cash, real estate, stocks, bonds, personal property or life insurance.
The key is discovering what’s best for you
Whether supported through an outright gift or planned gift, all Humane Society of Broward County programs are made possible through the generosity and commitment of people like you. But we also want to make sure you benefit from making a gift to us.
How does this happen? Of course, you have the satisfaction that comes from knowing you’ve made a difference. But, in fact, the best gift plans may also improve the donor’s financial and tax situations, often right away.
One of the simplest planned gifts is a bequest through your will in which you designate either a specific dollar amount or a percentage of your estate after other disbursements. In addition to supporting the Humane Society of Broward County, it serves as an example to your heirs of the values and ideals you hold dear.
Life Income Gift
Family obligations and the need to provide for retirement, coupled with the high cost of living, make it difficult for many people to consider substantial charitable gifts now. But there is a way to have the satisfaction of making a meaningful lifetime gift without sacrifice. In fact, you can get current income tax and financial benefits. It is called a life income gift. You irrevocably transfer some assets to the Humane Society of Broward County now, and in return, you (and a survivor, if you wish) receive payments for life. As a result, the assets are used to carry out our mission.
Charitable Gift Annuity
In exchange for your gift of cash or marketable securities to the Humane Society of Broward County, we agree to pay you (and a survivor or other beneficiary) a fixed amount annually for your lifetime. The transfer is part gift and part purchase of an annuity. The rate of return is attractive and the payments are guaranteed for life.
Charitable Remainder Trust
This life income plan is created by transferring assets to a trust that pays you (and another beneficiary, if you wish) a specified amount annually for life. At the end of the trust, the remaining trust assets are transferred to the Humane Society of Broward County. A bank or trusted advisor can serve as trustee.
Gift of Life Insurance
Contributions of life insurance can provide a substantial gift to the Humane Society of Broward County. The value of an ordinary policy at the time of the gift is tax deductible. If you continue paying the premiums, they also are deductible as charitable contributions. If a paid-up policy is given, the cost of purchasing a new paid-up policy at your current age is the value of the charitable deduction.
Charitable Lead Trust
Individuals with very large estates can use a charitable lead trust to benefit the Humane Society of Broward County and pass principal to family members at a greatly reduced tax cost. It works like this: You transfer assets to a trust that provides payments to the Humane Society of Broward County for a term of years. Then the trust principal goes to your children, grandchildren, or others free of, or at greatly reduced, federal gift and estate tax.
Gift of Retirement Plans
Many individuals today have large qualified retirement plans such as an IRA, 401(k), or Keogh plan. These assets have been growing tax-free for years. Once the owner begins to receive payments from the qualified plans, the distributions are taxed. The plans are also included in the owner's taxable estate. A retirement plan may be an excellent source of funds for making a gift to the Humane Society of Broward County.annuity. The rate of return is attractive and the payments are guaranteed for life.