Leave a Legacy

You may find that gifts of retirement assets can save your heirs undue tax burdens and allow you to accomplish your charitable objectives. When you bequeath retirement assets to your heirs, you are leaving them taxable assets. After your heirs pay the taxes due on these assets, their inheritance will be considerably less than the original amount. However, if you bequeath retirement plan assets to  Global Fund for Women, we will not have to pay income taxes on the assets. This will allow you to make a larger gift and possibly save other nontaxable assets for your heirs.

You may also want to consider setting up a charitable trust with retirement assets. With a trust, you simply transfer your retirement assets to Global Fund for Women as the last beneficiary. The trust can provide payments for your spouse or another loved one for the rest of his/her life. After the death of your beneficiary, the assets remaining in the trust can be used by Global Fund to continue our work. There will be no estate or income taxes imposed on the assets at the time of the gift.

This information is not intended as specific legal advice. Consult your attorney when considering any legal matter. State laws which govern wills and contracts vary and are subject to change.

The information on this page is reprinted with permission of Converse and Associates.
© 2001 Converse & Associates.

A life-income-plan gift allows you to make a gift to Global Fund for Women and receive payments from your gift. Such gifts include charitable gift annuities, charitable annuity trusts, and charitable unitrusts. Each plan allows you to help us in the future and enjoy immediate benefits in exchange for your future contribution.

Your benefits include:

• The opportunity to receive fixed or variable payments for life.
• The opportunity to provide benefits for a surviving beneficiary.
• Income-tax deductions can be taken in the year the life income plan
  established and can be carried forward into as many as
  five additional
  tax years if necessary.
• Avoiding or reducing capital gains tax when you use appreciated property
  to fund certain life income agreements.
• Savings from estate and inheritance taxes on assets transferred
  to the Global Fund for Women.

Life insurance is a very under-used asset in charitable giving, yet its flexibility makes it possible for virtually everyone to make a meaningful gift. Some possibilities include:

Give a Percentage
You could opt to designate a percentage of your life insurance policy to Global Fund For Women.

Give a Paid-Up Policy
Most people own life insurance, and many have policies that have outlived their original purpose. For instance, policies for a college education, those insuring a business, or those protecting a mortgage, can make excellent gifts when given to a charitable organization. And the donor can deduct the replacement value of the policy.

Buy a New Policy
Some people find they can make a much larger gift than they could otherwise afford by purchasing a life insurance policy and naming Global Fund for Women as owner and beneficiary. The future premiums paid are deductible as cash contributions.

Buy Insurance to Replace a Bequest
Some people find they can make a current gift of assets they had planned to bequeath in their wills. They receive the income-tax benefits now and replace the assets by buying a life-insurance policy for that amount. They enjoy the satisfaction of giving now and receiving the tax deduction now, when they need it most. The beneficiaries will still receive the same amount.

Add a Beneficiary
Regardless of financial circumstances, almost anyone can name Global Fund for Women as a secondary or final beneficiary of a new or existing policy. This simply means that if the first beneficiary(ies) predeceases you, our organization becomes the beneficiary. Because the gift is not definite, there are no income tax benefits; but, if any funds do finally go to Global Fund for Women, they will be deductible from federal estate taxes.

United States’ tax laws are structured so that donors are encouraged to give as generously as possible to their favorite charitable organizations. Gifts of assets that have increased in value since their purchase can bring the following benefits to the donor:

• Sales of stock, bonds and mutual funds that have appreciated in value
  generate a taxable capital gain. Gifts of those appreciated assets to
  not-for-profit organizations are deductible at their full fair market value
  if they have been held longer than 12 months.
• The fair market value of the asset(s) can be deducted up to 30 percent
  of the donor’s adjusted gross income.
• Excess deductions can be carried forward into as many as five additional tax years.

Get more information on donating stock.

By including Global Fund for Women in your will, you can ensure that your generosity will continue in perpetuity. Global Fund pledges to put your gift to the best possible use by awarding grants to improve the lives of women around the world. There are several ways to make contributions through your will. You can give:

A Percentage
“I give, devise, and bequeath to Global Fund for Women of San Francisco, California, _____ % of my estate to be used for its charitable purposes.”

A Specific Dollar Amount
“I give, devise, and bequeath to Global Fund for Women of San Francisco, California,
$xxx,xxx to be used for its charitable purposes.”

A Residue
A residue is what assets remain after other bequests have been granted.
“All the residue of my estate, including real and personal property, I give, devise, and bequeath to Global Fund for Women of San Francisco, California, to be used for its charitable purposes.”

Note: The above wording is suggested. Consult your attorney when preparing any legal document.