A growing number of our donors are choosing to support CAPS through estate planning by joining The Legacy Society. Through thoughtful planning, you can provide for yourself, your spouse and heirs, and contribute to your children’s and grandchildren’s future quality of life by supporting CAPS’ mission.
Estate planning may provide significant benefits to you and your heirs by helping you to:
- Leave a legacy and pass on your personal values to future generations
- Create a family vision and multi-generational plan
- Provide for elderly parents, pay for college for children or grandchildren, maximize your heirs' inheritance
- Make a larger philanthropic gift than you thought possible
- Increase your income and reduce taxes
Members of The Legacy Sociey use a variety of estate planning tools, including:
- Provisions for CAPS through your will or trust, including bequests of cash, securities or real estate
- Naming CAPS as a beneficiary of your life insurance policy or retirement plan
- Retirement plans are especially good vehicles for charitable giving but poor vehicles for transferring assets to heirs as they can be subject to more than 70 percent in taxes!
- The IRA Charitable Rollover allows donors age 70 1/2 and older to transfer money from their IRAs directly to nonprofits like CAPS -- up to $100,000 per year in 2008 and 2009 -- without having to pay taxes on it.
CAPS is grateful and honored to be remembered in this way. If you have already included CAPS in your estate plans, thank you and please let us know so we may welcome you to The Legacy Society.
If you would like to become a memeber of The Legacy Society or have questions about estate planning, please call (805) 564-6626 or click here for more information and to let us know of your interst.
Thank you for joining CAPS in the fight to preserve our quality of life for all Americans.
Planned Giving Opportunities
GIFTS OF CASH
- If you itemize, you can lower your income taxes simply by writing us a check
- Gifts of cash are fully deductible - up to a maximum of 50% of your adjusted gross income.
- For example, if your adjusted gross income for this year is $50,000, up to $25,000 of charitable gifts may be deducted this year. Any excess can generally be carried forward and deducted over as many as five subsequent years.
GIFTS OF STOCK
If you own stock, it is often more tax-wise to contribute stock than cash. This is because a gift of appreciated stock generally offers a twofold tax saving.
- First, you avoid paying any capital gains tax on the increase in value of the stock.
- Second, you receive an income tax deduction for the full fair market value of the stock at the time of the gift.
Example: If you purchased some stock many years ago for only $1,000, and it is now worth $10,000, an outright gift of stock to us would result in a charitable contribution deduction of $10,000. In addition, there is no tax on the $9,000 appreciation in value.
Make sure you have owned the stock for a "long-term" period of time (this generally means that you have held the stock for more than one year) to qualify for these significant tax advantages.
Gifts of appreciated stock are fully deductible - up to a maximum of 30% of your adjusted gross income. For example, if your adjusted gross income for this year is $100,000, up to $30,000 of long-term appreciated stock and other property gifts may generally be deducted this year. Any excess can generally be carried forward and deducted over as many as five subsequent years.
BEQUESTS IN YOUR WILL
You can add us to your will simply through an amendment called a codicil; thus your entire will does not have to be redrafted. People often include us in their wills using on of the following methods;
- General/outright bequest; "I leave $____ or ____percent of my estate to CAPS, Santa Barbara, California."
- Specific bequest; "I leave my (name property here) to CAPS, Santa Barbara, California." Examples include 1,000 shares of ABC stock, a primary or secondary residence, a farm, undeveloped land, vehicles such as a car, airplane or boat, or a collection of art.
- Residuary bequest -- after you have provided for your heirs; "I leave ____ percent of the remainder of my estate to CAPS, Santa Barbara, California."
- Contigent bequests -- if an heir does not survive you; "I leave $____ to my sister Betty. If she does not survive me, then this bequest shall be made to CAPS, Santa Barbara, California."
FOR MORE DETAILED INFORMATION, INCLUDING EVEN MORE WAYS TO GIVE, CLICK HERE (ie, Common real estate, life insurance, life income, charitable lead trust information)
We appreciate your interest and support, and would be pleased to provide you with additional information on the advantages of planned giving.
If you have already included CAPS in your estate plans, thank you and please let us know so that we may welcome you into the Legacy Society.
Please email us at firstname.lastname@example.org or call our office at (805) 564-6626.
A brochure cannot tell you everything you need to know about planned giving and which method would be the most advantageous for your particular financial and estate planning situation. Check with your attorney, accountant, or other tax advisor for additional information on how these general rules apply to your situation. Not all of the available methods of giving could be included in this brochure, and not all of the tax ramifications of each form of gift could be discussed.