Planned Giving to Once a Soldier
A planned gift is any major gift, made in your lifetime or at death as part of your overall financial and/or estate planning that benefits charities and/or heirs. It is an important philanthropic tool to support Once a Soldier, Inc. in a meaningful and substantial way. Planned giving can enable you to make larger donations than you could make from your normal income. Through estate and tax planning techniques, planned gifts can be set up to maximize the gift and/or minimize the impact of the gift on your estate. Planned giving can be beneficial to both you and Once a Soldier, Inc.
What can be donated through planned giving:
- Bequest
- Cash
- Appreciated securities/stock
- Real estate
- Artwork
- Partnership interests
- Personal property
- Life insurance
- Retirement plan
The benefits of planned giving may include:
- A variety of tax advantages
- The possibility of the gifting from current (even illiquid) assets such as securities or real estate, as opposed to cash
- The potential for making a significantly larger gift than might be normally possible
- The potential to leave a lasting legacy in the fight against multiple system atrophy
- The ability to save significantly on estate taxes
There are several different options for providing a planned gift to Once a Soldier, Inc.
Bequests
One of the simplest ways to remember Once a Soldier, Inc. in your estate plan is through your will. You may designate the Once a Soldier, Inc. to receive cash and/or other assets at the time of your death. Memorials can be established with bequests to honor you, a family member or someone else.
To make a bequest of cash or property to Once a Soldier, Inc., please ensure the following language is included in your will:
“I give and bequeath to Once a Soldier,, Inc., a non-profit organized under the laws of the State of Florida, and having its main office at 337 Van Gogh Circle, FL 32081, the sum of $ ________ or ________% of the residue, rest and remainder of my estate to be used for the general purpose and mission of the organization.”
Retirement Plan Assets
Assets remaining in retirement plans at your death funded with pre-tax dollars are considered “income in respect of a decedent.” Not only are your assets diminished by estate taxes, your heirs must also pay income taxes on them.
If your family is otherwise well provided for, retirement plan assets are an extremely tax-efficient gift and allow your family to avoid all income and estate taxes when you name Once a Soldier, Inc. as the primary beneficiary.
You can continue to withdraw from the retirement plan during your lifetime.
Life Insurance
Life insurance can be gifted by:Life insurance is a good tool for planned giving to charity
Transferring the ownership of an existing policy to Once a Soldier, Inc., which usually results in a tax deduction for the policy’s fair market value or cost basis, if lower, on the date of the gift.
Purchasing a policy and naming the charity as a beneficiary, or adding the charity as a beneficiary on an existing policy, which usually results in an estate tax deduction for the insurance proceeds
Charitable Remainder Trusts
You can transfer assets to a charitable remainder trust so after the death of the last beneficiary the remaining funds go to Once a Soldier, Inc. The other beneficiaries (typically your spouse and/or children) named in the trust receive a fixed amount of variable income for life.
Charitable Lead Trusts
With a charitable lead trust you transfer assets to a trust to provide income to Once a Soldier, Inc. for a period of predetermined years. At the end of designated period, the trust assets revert either to the donor or to someone else the donor designates.
More Information
Planned giving is a tremendous tool to truly make a lasting difference as the fight to find a cure for multiple system atrophy continues. To make the soundest decisions possible for you, your family and the charity, the Multiple System Atrophy Coalition, Inc. strongly recommends that you speak with a certified financial planner or estate planning specialist. If you or your financial advisor would like to discuss planned giving with us, please contact David Barbush by email: dave@onceasoldier.org or direct dial to 904 477-9995
Tax Identification Number
Once a Soldier, Inc.’s tax identification number is 82-2792018