Planned giving is a wonderful way to share your good fortune, fulfill your philanthropic goals, and help men, women and children who are homeless. It is a legacy that truly benefits the next generation. There are many ways to make a planned gift, providing various tax advantages to you and your heirs:
Include the Somerville Homeless Coalition in your Will
A bequest is fully deductible for federal estate tax purposes. You may incorporate your gift into your will when it is drafted, or add it later in a codicil. The gift can be for set amounts, a percentage of assets, or the remainder of assets after other distributions.
Designate the Somerville Homeless Coalition as an IRA Beneficiary
After taxes, IRA assets are often significantly eroded, or even depleted, by estate and income taxes before passing on to heirs. Tax consequences can be diminished and the Somerville Homeless Coalition can benefit from your bequest at full value.
Name the Somerville Homeless Coalition as a beneficiary of your Life Insurance Policy
Small annual insurance premiums can turn into a large gift and possibly provide you with current tax deductions.
Name the Somerville Homeless Coalition as a charitable beneficiary of your Donor Advised Fund
If you have a donor advised fund and you choose not to name an account successor, you can specify that the fund’s remaining assets go to the Somerville Homeless Coalition.
Please consult an attorney or financial advisor, or the Director of Development at the Somerville Homeless Coalition about setting up any of these plans.
For more information, or to notify the Somerville Homeless Coalition that you have made a planned gift, please contact Peg Drisko, Director of Operations and Strategic Partnerships, at 617-623-6111 or [email protected].