Planned Giving – Share Your Heart

Your Legacy … Shaping the Future with
a Gift That Keeps Giving

Being faithful stewards of the gifts and resources that we have received during our lifetime is a joyful responsibility.  We are presented with many opportunities to cultivate these gifts and to share them lovingly with others.

Planned giving provides a comprehensive approach to charitable giving which allows for donors to both give and to receive income.   It illustrates that good stewardship is a two-way street that can provide financial security for both your children and yourselves. 

Prudent stewardship calls each of us to formulate a plan in order that we can chose the best timing and gift amount for our charitable giving.  This planning enables a donor to plan for the future while retaining control of his or her own life in the present.  It demonstrates responsibility and eases the burden on children to make long range financial decisions for aging parents.  

Planned Giving Opportunities – A Brief Overview

There are a broad range of benefits to having an effective estate plan.  Wise planning can reduce taxes, increase retirement income, increase benefits to family and heirs while also benefitting a deserving charity.

A qualified financial planner is an important resource in determining the amount and type of giving what might be possible and preferable for you.  We encourage you to ask your financial advisors about the best ways to take advantage of planned giving opportunities and hope that TNN will be worthy of your support.

Charitable Remainder Trust

With a Charitable Remainder Trust you can make an irrevocable charitable gift while enjoying a life income from the Trust for beneficiaries whom you choose. The charity receives the “remainder” of the Trust upon the death of the last beneficiary.  This giving plan places the responsibility for managing the assets with someone else while providing income tax, capital gains and estate tax benefits for you.

Charitable Gift Annuity

A Charitable Gift Annuity provides a way to make an irrevocable gift to receive income for life while also making support for a favorite charity part of your legacy.  You receive regular payments during your lifetime and an immediate tax deduction at the time of the gift.  With a two-life arrangement, this provision is extended for the life of the second beneficiary.  Upon the death of the last beneficiary, the body of the annuity would be received by the charity you have designated.

 
Life Estate Contract

Your residence or farm can be deeded to a charity while making a provision for you to live on the property during the lifetime of you and /or your spouse.  With this irrevocable agreement, the donor receives and immediate income tax deduction for the gift and may avoid some probate expenses.

Wills and Bequests

Including a favorite charity in your Will ensures that the resources you leave behind will be allocated as you wish.  Your gift is entirely tax-free and may reduce estate taxes that your heirs will pay.

Life Insurance

Life insurance provides
a meaningful way for
you to designate a beneficiary for your
policy without draining excessive resources
from your estate or depriving your family
of any income. The provision of tax relief is one of the significant advantages
of this type of giving.

Retirement Plan

Any remaining assets in your retirement plan whether 401(k), IRA or Keogh may generate a substantial tax liability for your heirs at the time of your death.  Naming a charity as the beneficiary of a retirement plan provides both a living legacy for a cause that will prosper beyond your lifetime and diminishes taxes in the process.

Appreciated Assets

Making a charitable gift of publically traded securities can be an excellent alternative to making a cash donation when you have owned the stock for more than one year.  This approach may allow you to avoid capital gains tax.

Cash Donation

Making an outright tax-deductible gift is a simple way to share your assets with a charity whose mission is important to you.   Different types of property can be given including personal property, securities, paid up insurance, real estate, retirement plans and stock.