There are many ways to reduce the cost of a gift to Family Service. Each has a tax benefit that will assist you in meeting your personal financial and estate planning goals. If you want to make a lasting gift, one of the following gift options may be right for you. These represent brief descriptions; for more information on any type of gift, you can contact us.
GIFTS OF CASH
Every dollar you give outright to support charitable work is tax deductible. Family Service is always grateful for your support of cash and will provide documentation for income tax purposes stating the amount of your gift.
GIFTS OF APPRECIATED SECURITIES
One way to reduce your tax on the gain of stocks, bonds, and other securities is to donate them to Family Service. A gift of appreciated securities generally qualifies not only for an income tax deduction, but also avoids long-term capital gains tax.
GIFTS OF REAL ESTATE
The tax benefits for a gift of real estate are almost identical to the benefits for appreciated securities. A gift of real estate will enable you to avoid capital gains tax on your profit, and you will receive a tax deduction for the full market value of the property. If you are concerned that by leaving your appreciated property to a charity your beneficiaries will miss out on an inheritance, we can show you how to replace the value of a property with an insurance policy that will pay your heirs an appropriate cash value (free of estate taxes) after your death.
GIFTS OF LIFE INSURANCE
An often overlooked gift which is easy to give, is a policy or portion of a life insurance policy that is no longer needed for its original purpose. By making us the owner of the policy, and continuing to pay the premiums yourself, you’ll be able to deduct the premiums as a tax deduction. We can also show you how to purchase a new policy, naming Family Service as the beneficiary.
BEQUESTS FROM YOUR WILL
The most familiar type of bequest is the general bequest which specifies that we will receive a designated sum from or a predetermined percentage of your estate. This option can reduce estate taxes to your heirs.
There is a new way to support the mission and programs of Family Service. Through the Scrip Program, individuals can purchase Scrip, which are like “gift certificates” that can be used like cash to make purchases at participating stores. A percentage of the money goes back to Family Service — anywhere from 2% – 16%. Any individual, organization or business can help support Family Service by ordering Scrip. For more information and a list of participation stores, please contact Jane Kirchner, Family Service, 501 S. 7th St., Lincoln, NE, 68508, (402) 441-7949 ext. 632.
For more information on a specific type of gift, please contact us.