PLANNED GIFTS: MAKING A LASTING IMPACT

Planned gifts create opportunities for both Jackson-Feild Homes and our donors. Determining what gift is right for you is just as important as making the gift. There are a variety of easy giving options from which you can choose — from naming us as a beneficiary in your will to a more complex trust arrangement. Ultimately the best plan for you will balance what you wish to accomplish for yourself, your family, and your charitable interests in your overall estate and financial plans.

For more information on planned giving options please continue to read below or  please contact: Ann Chaffins in the Development Office at (804) 354-6929.

CASH

A gift of cash may be your easiest and most beneficial option. Immediately effective and simple to give, this contribution is deductible up to 50% of your adjusted gross income. Any excess deductions can be carried forward for up to five additional tax years.

APPRECIATED SECURITIES

Giving appreciated securities is an economical way to make a charitable gift and pay tribute to a loved one in the process. If you have held the securities for more than 12 months when you make the gift, you will:

Receive a charitable income tax deduction for the full fair-market value of the securities up to 30% of your adjusted gross income. Excess deductions can be carried forward up to five additional tax years.

Eliminate all capital gains taxes on the securities you donate.

CASH or SECURITIES?

Ralph Smith wants to make a $20,000 gift in honor of his grandchildren. He purchased stocks in 1988. His cost basis is $5,000 and the stock has a current value of $20,000. Should Ralph give the organization a gift of cash or a gift of this stock?

With either, he will be able to honor his grandchildren. However, the stock gift provides two benefits -- a charitable deduction of $20,000 and a capital gains tax savings of the $15,000 appreciation. The cash gift qualifies for the same charitable deduction, but there are no capital gains to be saved. Therefore, the gift of stock provides the most tax advantages.

A BEQUEST

A gift in honor or memory of that special someone can also be outlined in your will. If you already have a will, a simple codicil can be added very easily. This allows you to perpetuate your personal dedication to our organization and pay tribute to your loved one too.

Listed below are four popular ways to make such a bequest:

1. A Percentage of Your Estate -- To leave a percentage of your estate to Jackson-Feild Homes and pay tribute to a loved one, state, "I give, devise and bequeath to JACKSON-FEILD HOMES of Jarratt, Virginia, in honor (Individual's Name), ___% of my estate."

2. Specific Property -- To leave a specific piece of property and pay tribute to a loved one, state "In honor of (Individual's Name), I give, devise and bequeath to JACKSON-FEILD HOMES of Jarratt, Virginia, (Description of the Property you wish to leave), located at (Give the Exact Location of the Property)."

3. Residue of Your Estate -- Residue refers to whatever is left after other bequests have been granted. To leave such a bequest and pay tribute to a loved one, simply state, "All residue of my estate, including real and personal property, I give, devise, and bequeath to JACKSON-FEILD HOMES of Jarratt, Virginia in honor of (Individual's Name)."

4. Specific Dollar Amount -- To leave a specific dollar amount as a tribute to a loved one, state "I give, devise and bequeath to JACKSON-FEILD HOMES of Jarratt, Virginia, $_____ in honor of (Individual's Name)."

Some events in life are so meaningful that they will forever be remembered. It may be seeing your baby walk for the first time or being recognized by your peers for an outstanding accomplishment. It may simply be an extended hand of friendship during a particularly difficult time.

Whatever the occasion, wouldn't it be gratifying to recognize those who have made such a difference in your life?

CHARITABLE UNITRUSTS and TRUSTS

Charitable Unitrusts

A Charitable Remainder Unitrust (CRUT) removes an asset from the donor's estate and designates the non-profit charity as the trustee or the irrevocable beneficiary. Charitable Remainder Unitrusts provide donors with a current tax deduction and allows them to retain the income generated by the asset during their own, and sometimes an additional beneficiary's lifetime(s).

The remainder value of the trust, when it is dissolved on the death of the last beneficiary supports the work of Jackson-Feild Homes. For trusts over $100,000 or more, Jackson-Feild Homes Foundation will act as the trustee.

Charitable Trusts

A Charitable Lead Trust is yet another type of deferred gift. A Charitable Trust is when a donor puts an asset in trust for a period of time so that the income generated by the asset benefits the charity. At the end of the time period, the asset is passed on to a named recipient. This is a great tax advantageous gift vehicle for passing an asset from one generation to another while also helping Jackson-Feild Homes.

Jackson-Feild Homes will be happy to discuss what you need to do to set up a Charitable Trust and discuss the best ways to administer it. For more information, please call Ann Chaffins in the Development office at (804) 354-6929.