Planned giving provides a remarkable opportunity to make a lasting impact for your community and Matthew's Hope. By incorporating charitable donations into your estate plan, you can help ensure Matthew’s Hope’s future while leaving behind a meaningful legacy of support. In this article, we'll discuss the various types and benefits of planned giving and how your contributions can help support the critical work of Matthew's Hope in Orange and Brevard County.
A Gift That Keeps on Giving: The Advantages of Planned Giving
There are numerous benefits to planned giving — both for the donors and for the organizations like Matthew's Hope that they support. Here are a few key advantages:
Tax Benefits
By incorporating planned gifts into your estate plan, you may receive significant tax benefits. Bequests can potentially reduce federal estate taxes, while some gift types, like charitable remainder trusts, have tax-exempt status.
Customizable Giving Options
There is no one-size-fits-all approach to planned giving. Gifts can take various forms, from simple bequests to more complex trusts and annuities. Donors can select a giving method that best aligns with their financial situation and strategic goals.
Flexibility and Control
Regardless of income level, planned gifts don't impact everyday cash flow and are accessible to everyone. Donors have the flexibility to choose how and where their money is spent, and updating bequests is simple, allowing for changes in their wishes or financial circumstances.
Choosing the Right Planned Gift for You and Your Legacy
There are several options available for those considering planned giving. Here are a few popular choices:
Bequests
A bequest is a straightforward and common method of planned giving. By allocating a portion of your assets to Matthew's Hope in your will, trust, or estate plan, you can significantly impact the organization's future.
Charitable Gift Annuities
These types of planned gifts involve a contract between the donor and the organization. The donor makes a gift in exchange for fixed income payments for life, benefiting both parties.
Non-Cash Assets
Donating non-cash assets, such as stock or real estate, is also a viable option. Organizations like Matthew's Hope can utilize these assets to fulfill their expanding needs in the community.
Retirement Fund Contributions
Consider donating directly from your Individual Retirement Account (IRA) or utilizing Pooled Income Funds. This approach allows you to support Matthew's Hope while enjoying potential tax benefits.
Maximizing Your Planned Giving Impact
To ensure that your planned gift aligns with your personal and financial goals, it is essential to seek professional assistance from financial advisors, accountants, and estate planning attorneys. These experts can guide you in maximizing the benefits of your gift, helping you make an informed decision that serves both your interests and those of Matthew's Hope.
If you're passionate about leaving a lasting legacy through helping others, now is the time to take action. Reach out to Pastor Scott Billue at Matthew's Hope to discuss how your gift can best align with the organization's mission. By embracing planned giving, you can make a significant difference in the lives of those served by Matthew's Hope while securing your impactful legacy for years to come. Don't hesitate to make a difference today.