PLANNED GIVING
​Whether you already make charitable donations to PCFLV or are considering making a donation, “planned giving” is a form of charitable donation that differs from a cash gift made during the donor’s life and is a powerful way to support PCFLV’s long-term success. Planned giving allows you to leave a lasting impression on PCFLV, enabling us to carry out the organization’s mission for years to come.
​Planned giving often takes the form of a charitable donation that does not take effect until the donor’s death, allowing a donor to defer making a charitable gift until a later date. The following are common forms of planned giving:
GIFTS UNDER A WILL OR TRUST
The most common form of planned giving is a bequest to a charitable organization under your Will or Trust. You can name PCFLV as a beneficiary under your Will or Trust by providing that PCFLV will receive a specific dollar amount from your Estate or Trust or that PCFLV will receive a certain percentage of the assets from your Estate or Trust. You can even provide that in the event that none of the other named beneficiaries survive you, your Estate or Trust assets (or a portion of those assets) will pass to PCFLV. A gift under a Will or Trust creates no cost to you, as it does not take effect until after your death, and you can include a gift to PCFLV under your Will or Trust in addition to gifts to loved ones.
GIFTS THROUGH BENEFICIARY DESIGNATIONS
Outside of a Will or Trust, you can make a planned gift to PCFLV by designating it as the beneficiary on any accounts that permit you to name a beneficiary, including cash or brokerage accounts, retirement accounts and life insurance. Gifting a retirement account like an IRA or 401(k) to PCFLV can have particular tax advantages because these accounts are generally subject to income tax (in addition to any applicable inheritance and estate taxes) when distributed to individual beneficiaries. A gift made by beneficiary designation is not controlled by your Will and passes outside your Estate, meaning that even if you do not have a Will or Trust, you can still make a gift to PCFLV that takes effect at your death. You can name PCFLV as the beneficiary on an account or asset by providing the institution with the required beneficiary designation form that names PCFLV as the beneficiary. You can include PCFLV as the beneficiary of the entire account, a percentage of the account, or as the contingent beneficiary of the account in the event that the named primary beneficiaries are not living at the time of your death.
GIFTS THAT BENEFIT YOU DURING YOUR LIFE
Charitable Remainder Trusts and Charitable Gift Annuities are a slightly more complex form of planned giving that allow you to benefit from the assets being gifted during your life while leaving a gift to PCFLV in the future. Through a Charitable Remainder Trust that benefits PCFLV, the donor irrevocably contributes assets to a Trust and then receives payments from the Trust (either a fixed amount or a percentage of the assets each year) over his or her lifetime, with the remaining assets in the Trust passing to PCFLV at the end of the Trust term. A Charitable Gift Annuity similarly allows the donor to make an irrevocable contribution to PCFLV and receive guaranteed annuity payments during his or her life, with the remaining assets passing to PCFLV at the donor’s death. Both Charitable Remainder Trusts and Charitable Gift Annuities typically permit the donor to take an immediate income tax deduction while also providing an income stream during the donor’s lifetime, which make these types of planned gifts attractive to a donor who might be uncertain about parting way with a significant amount of assets prior to his or her death.
FIND OUT MORE ABOUT PLANNED GIVING
To find out more about planned giving to PCFLV, please contact Michelle Zenie at michelle@pcflv.org or contact your personal financial planner, accountant, or attorney.
The information on this webpage is not, and should not be interpreted as, legal, tax or financial advice.
You need to consult with your attorney, tax and financial advisors before making a planned gift.