Gifts That Benefit Your Heirs
Many City of Hope donors want to do more to help City of Hope, but also want to make sure their loved ones, especially children and grandchildren are taken care of.
A Charitable Lead Trust
A charitable lead trust is a way of making a gift to City of Hope that enables you to reduce gift and estate taxes while controlling the timing of passing assets to your children and grandchildren.
You contribute securities or other appreciating assets to a charitable lead trust. The trust makes annual payments to City of Hope for a period of time. When the trust terminates, the remaining principal is paid to your heirs.
Benefits to You:
- The present value of the income payments to City of Hope reduces your gift/estate tax.
- All appreciation that takes place in the trust goes tax-free to your heirs.
- The amount and term of the payments to City of Hope can be set so as to reduce or even eliminate transfer taxes due when the principal reverts to your heirs.
- You have the satisfaction of making a significant gift to City of Hope now that reduces the taxes due on transfers to your heirs later.
A Gift Annuity with Two Beneficiaries
Charitable gift annuities are a popular way of providing financial security to a loved one. You make an irrevocable donation of at least $25,000 to City of Hope to create a gift annuity with two beneficiaries, for example, a spouse or adult child. You receive fixed annual payments — for as long as either beneficiary lives — at an attractive payment rate, and a charitable deduction, too. Plus, you enjoy the satisfaction of making a gift that benefits you now and, in the future, helps fund innovative research and compassionate patient care.
A Charitable Remainder Trust
A charitable remainder unitrust with City of Hope can provide you and/or other beneficiaries with income for life or for a fixed number of years. For your donation, which can be appreciated securities or real estate, you receive an immediate income tax deduction for a portion of your contribution to the unitrust and savings on capital gains taxes, too. You will also have the satisfaction of making a significant gift that benefits you now and City of Hope later.
With this type of gift you can:
- Avoid paying capital gains.
- Convert the full value of your asset into a lifetime income stream.
- Receive a significant charitable income tax deduction.
- Remove assets from your taxable estate.
A Gift of Retirement Plan Assets
Because retirement plans are taxed differently than most assets, they may actually become a tax liability. Naming City of Hope a beneficiary of your retirement account can be an attractive option for leaving a legacy and reducing income and possibly estate taxes for your loved ones.
Making City of Hope a beneficiary of a retirement account is easy. Simply ask your plan administrator for a beneficiary designation form and include City of Hope as beneficiary of a specific percentage of the account value or as a contingent beneficiary.