Charitable gifts included as part of your long range estate and financial planning can offer a wonderful way to provide lasting support for organizations like Habitat for Humanity-La Crosse Area that will survive well into the future. It can be possible to make a “gift of a lifetime” while minimizing taxes and settlement costs and conserving more of your estate for loved ones. Like a university, church, or hospital, Habitat for Humanity-La Crosse Area needs a stable source of long-term funding.
Planned gifts provide an opportunity both to realize your personal financial goals and to strengthen Habitat For Humanity-La Crosse Area for the future. Through a planned gift, you may be able to increase your current income, or provide additional retirement income, while reducing income and estate taxes.
The following summaries provide additional information on these opportunities:
You can make a gift to Habitat For Humanity-La Crosse Area through your will, or via a codicil to your will. This is a bequest. You can bequeath a specific sum, or a percentage of your estate or specific property. A bequest enables you to make a lasting gift to Habitat-La Crosse Area while providing the security of knowing that you have complete access to your assets should you need them for medical or other expenses. A bequest may also enable you to reduce estate taxes.
Gifts of Appreciated Stock
Many people have securities that have increased greatly in value since their purchase. By using these stocks for charitable giving, donors can conserve cash for other uses and maximize the value of their gifts. Donors can deduct the full fair market value of appreciated securities and pay no capital gains on their transfer to public broadcasting. This can reduce the cost of making a gift or increase the amount you can afford to give.
A simple way to make a significant future gift is to name Habitat-La Crosse Area as the beneficiary to receive all or a portion of the proceeds of a life insurance policy no longer needed for its original purpose, or to purchase a new policy for the benefit of Habitat For Humanity-La Crosse Area. You should contact your insurance agent to discuss how best to make such a gift. He or she can work with Habitat-La Crosse Area staff to meet your charitable giving goals.
Retirement Plan Gifts
You may have accumulated funds in your company pension plan, IRA, or other private retirement account that are beyond your needs or potentially subject to the federal excise tax on over-funded retirement plans. It may be convenient and beneficial to make a current or future charitable gift to Habitat For Humanity-La Crosse Area from those accounts.
Any of the planned giving ideas discussed here can become an enduring tribute to a family member or other loved one. A member of the Habitat-La Crosse Area staff would be glad to assist you in choosing an appropriate commemoration for your gift in memory of someone special. Please note that you will receive the tax receipt and benefit.
You may want to celebrate a special event—a birthday, anniversary, graduation, bar mitzvah, holiday, etc.—by making a gift to Habitat-La Crosse Area in honor or memory of a loved one. Such gifts bring pleasure to those who otherwise may not be able to contribute. Please note that you will receive the tax receipt and benefit.
Before you make any decisions, please consult your tax advisor.
Contact 608-785-2373 ext 7005 for more information.