Most of us go into each day with a plan. If we are going to the grocery store, we take a list. If we are packing for a trip, we think through what we’re going to need. With gas prices at all-time highs, we map out the most efficient routes for our errands.
We plan all life long for those things that are important to us. We may be looking at purchasing a different car, or taking a vacation or redoing our kitchen. Maybe we’re thinking a little longer-term toward college or retirement.
Our planning can reach beyond the now and extend far into the future. It is refreshing to know we can plan to protect ourselves and our loved ones financially while at the same time providing support for a charity.
People of all walks of life and all income levels
can consider ways of giving that go beyond
the traditional reach into the wallet for cash.
Planned gifts are not checks we write today…these are thoughtful investments into the future. Warren Buffett said it best: “Someone is sitting in the shade today because someone else planted a tree a long time ago.”
I have the joy of visiting each week with people who have experienced, first-hand, the incredible care and support of Hospice. I often hear, “I wish I could do more for Hospice or other causes I care about.” I’m always glad to tell people they can. And that it’s easy to do. Planned giving doesn’t have to be complex or complicated. It truly is just an extension of what we already do.
Planned giving can even provide answers to some of our common dilemmas:
- My CD rates have plummeted to less than 2%. Is there a way to earn more?
Yes! A Charitable Gift Annuity (CGA) with rates based on your age is an option. For example, a 75-year-old entering into a $5,000 CGA agreement would receive a 6.4% interest fixed payout annually, plus additional income tax deductions. (An 85-year-old would receive 8.1% interest).
- My mandatory IRA distributions each year trigger more taxes. Can I avoid this?
Yes! Contact your IRA holder before your distribution is made and direct that charitable contributions be sent directly to them from the IRA. You are only taxed for monies that come into your hands. If you already make these contributions, or want to increase your giving, this is a great way to both support the charity and avoid extra taxes.
- I want to be sure that the important work of my chosen charity will continue long into the future, but I just don’t have the income or means to give now. Is there anything I can do?
Yes! Many people make provisions in their wills for direct gifts to charities. However, other methods exist. For example, any charity can easily be added to the beneficiary list for your life insurance policy or retirement account. There are ways to include a charity for stocks, properties, mineral rights or other holdings. If your desire is to make this kind of gift, I, or someone at your favorite non-profit organization, can help with your situation.
Won’t you consider planning ahead for a gift? I would welcome the opportunity to help you accomplish your goals!
If you’d like, visit our website for more information on planned giving.
About Hospice of the Red River Valley
Hospice of the Red River Valley is an independent, not-for-profit hospice serving all, or portions of, 29 counties in North Dakota and Minnesota. Hospice care is intensive comfort care that alleviates pain and suffering, enhancing the quality of life for patients with life-limiting illnesses and their loved ones by addressing their medical, emotional, spiritual and grief needs. For more information, call toll free 800-237-4629, email email@example.com or visit www.hrrv.org.