Planned Gifts
- Creating lasting benefit through your will
You can retain your assets during your life and defer your charitable support until the donor’s death by naming VMSN in your Will.
- Giving through your revocable living trust
If, through a revocable living trust, you have chosen to pass your property to loved ones while minimizing probate costs, consider how you might add a charitable dimension to this plan as well. Similar to a charitable bequest through a will, such a gift is tax-deductible from estate taxes and can be delayed until all family members have been provided for.
- Giving through your life insurance
Life insurance is another way to donate to VMSN. There are a number of different ways to do this. You can name VMSN as a beneficiary to receive a certain percentage of your life insurance; donate a paid-up policy, which enables you to take a tax deduction in the amount of the replacement value of the policy; purchase a new policy and designate VMSN as owner and beneficiary (all of the premiums are then tax-deductible); buy life insurance to replace a bequest (this enables you to take the tax deduction now); or designate VMSN as a secondary or final beneficiary, which means that if your primary beneficiary(ies) predeceases you, VMSN is then the beneficiary and the amount we receive when the time comes is deducted from your estate taxes.
- Creative gifts using retirement assets
Whether you participate in a company pension plan or a fund you have established yourself, such as an IRA, you may accumulate funds beyond your needs for comfortable support of yourself and your loved ones. In such cases, you may wish to consider how you can use these “excess” funds to make charitable gifts in a tax-efficient way. You can also use your retirement assets to establish a charitable trust, designating VMSN as the final beneficiary. Your spouse or heirs will receive payments from the trust for the duration of their life, after which we receive the remainder, without estate or income taxes consequence.
