YOU CAN CONTRIBUTE TO UNITED WAY MONTEREY COUNTY IN THE FOLLOWING WAYS:
Please find the sample “Letter of Intent.” You can share with your attorney or estate planner, should legacy giving to United Way Monterey County be of potential interest to you.
A charitable bequest is one of the easiest and most flexible ways that you can leave a gift to United Way Monterey County that will make a lasting impact.
BENEFITS OF A BEQUEST
- Receive an estate tax charitable deduction
- Reduce the burden of taxes on your family
- Leave a lasting legacy to charity
HOW A BEQUEST WORKS
A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or United Way Monterey County as part of your estate plan, or you can make a bequest using a beneficiary designation form.
HOW DO I MAKE A BEQUEST?
A bequest is one of the easiest gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift be made to family, friends or United Way Monterey County as part of your estate plan.
WHAT ARE MY OPTIONS?
A bequest can be made in several ways:
- You can gift a specific dollar amount or asset
- You can gift a percentage of your estate
- You can gift from the balance or residue of your estate
- You can make a beneficiary designation of certain assets
You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older, an IRA charitable rollover is a way you can help continue our work and benefit this year.
BENEFITS OF AN IRA CHARITABLE ROLLOVER
- Avoid taxes on transfers of up to $100,000 from your IRA to our organization
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the work and mission of our organization
HOW AN IRA CHARITABLE ROLLOVER GIFT WORKS
- Contact your IRA plan administrator to make a gift from your IRA to us.
- Your IRA funds will be directly transferred to our organization to help continue our important work.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
- Please contact us if you wish for your gift to be used for a specific purpose.
You may be tired of living at the mercy of the fluctuating stock and real estate markets. A charitable gift annuity is a gift made to our organization that can provide you with a secure source of fixed payments for life.
BENEFITS OF A CHARITABLE GIFT ANNUITY
- Receive fixed payments to you or another annuitant you designate for life
- Receive a charitable income tax deduction for the charitable gift portion of the annuity
- Benefit from payments that may be partially tax-free
- Further the charitable work of United Way with your gift
HOW A CHARITABLE GIFT ANNUITY WORKS
A charitable gift annuity is a way to make a gift to support United Way Monterey County.
- You transfer cash or property to United Way Monterey County.
- In exchange, we promise to pay fixed payments to you for life. The payment can be quite high depending on your age, and a portion of each payment may even be tax-free.
- You will receive a charitable income tax deduction for the gift portion of the annuity.
- You also receive satisfaction, knowing that you will be helping further our mission.
If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax.
You may be concerned about the high cost of capital gains tax with the sale of an appreciated asset. Perhaps you recently sold property and are looking for a way to save on taxes this year and plan for retirement. A charitable remainder unitrust might offer the solutions you need!
BENEFITS OF A CHARITABLE REMAINDER UNITRUST
- Receive income for life, for a term of up to 20 years or life plus a term of up to 20 years
- Avoid capital gains on the sale of your appreciated assets
- Receive an immediate charitable income tax deduction for the charitable portion of the trust
- Establish a future legacy gift to United Way Monterey County
HOW A CHARITABLE REMAINDER UNITRUST WORKS
- You transfer cash or assets to fund a charitable remainder unitrust.
- In the case of a trust funded with appreciated assets, the trust will then sell the assets tax-free.
- The trust is invested to pay income to you or any other trust beneficiaries you select based on a life, lives, a term of up to 20 years or a life plus a term of up to 20 years.
- You receive an income tax deduction in the year you transfer assets to the trust.
- Our organization benefits from what remains in the trust after all the trust payments have been made.
If you are looking for a way to pass on some of your assets to your family while reducing or eliminating gift or estate taxes, a charitable lead trust is an excellent option.
BENEFITS OF A CHARITABLE LEAD TRUST
- Receive a gift or estate tax charitable deduction
- Pass inheritance on to family at a reduced or zero cost
- Establish a vehicle from which you can make annual gifts to charity
HOW A CHARITABLE LEAD TRUST WORKS
- You make a contribution of your property to fund a trust that pays United Way Monterey County income for a number of years.
- You receive a gift or estate tax deduction at the time of your gift.
- After a period of time, your family receives the trust assets plus any additional growth in value.
You may desire to leave your house/property deed to United Way Monterey County upon your death but would also like to receive a current charitable income tax deduction. A life estate reserved might offer the solution you need!
BENEFITS OF A LIFE ESTATE RESERVED
- Receive a federal income tax deduction for the value of the remainder interest in your home or property
- Preserve your lifetime use and control of your home or property
- Create a life estate based on more than one life. This will preserve the use of the property for you and a loved one, such as a spouse or dependent child
HOW A LIFE ESTATE WORKS
- Gift a house/property deed to United Way Monterey County. The deed will include a provision that gives you the right to use your home or farm for the rest of your life and that of any other life estate party named in the deed.
- You and United Way Monterey County sign a maintenance, insurance and taxes (MIT) agreement to explain that you will do your best to keep the property in good condition and that you will maintain property insurance and pay the property taxes.
- When the owners of the life estate have passed away, your home or farm will belong to United Way Monterey County. We will use or sell the property to further our charitable work.
For questions, contact Lynda Patrick, VP Resource Development at Lynda.Patrick@UnitedWayMCCA.org or call (831) 318-1973.