Estate Planning
PHILANTHROPY IS EASIER THAN YOU MAY THINK.
Planned giving allows anyone to make a substantial contribution to the JKV Foundation—regardless of income or financial status. It is a way to level the playing field, giving everyone a chance to become a philanthropist and make a difference. And it provides significant financial benefits to you as well.
Here’s how:
Some planned gifts provide lifelong income to the donor (yes, you read that correctly). Other gift plans significantly reduce taxes that would otherwise take a big chunk out of your loved ones’ inheritances—providing for both charity and heirs in ways that maximize the gift while minimizing its impact on your estate.
In short, a planned gift is any major gift that is part of a donor’s overall financial planning. And for us, it means an opportunity to continue our mission far into the future, opening up a whole world of possibilities for us while also securing your legacy for all generations to come.
Gifts Anyone Can Make
These gifts often do not affect cash flow during your lifetime.
Bequest
Gift Through Your Will or Estate
Details: A bequest—a gift made through your will or living trust—can be the easiest gift to make to the JKV Foundation because it costs you nothing during your lifetime. Plus, it’s revocable, so you can update or change it if circumstances change. If you already have a will or living trust, you can amend it to include a bequest to the JKV Foundation with a simple codicil. (We can provide you with sample bequest and codicil language.)
Donor Profile: A bequest is one of the easiest and most popular gift plans. This plan can fit any prospect: single, married, child-free or multi-generational, wealthy or not. Often a bequest is simply a set amount or percentage of an estate set aside to make a gift to the JKV Foundation. Do you already have a will and do not want to pay your attorney to change it? In most states, a donor can execute a simple codicil (or will addition) to make the gift in a cost-effective manner.
Appreciated Securities
Buy Low, Give High
Details: You transfer publicly traded securities that you have owned for more than one year to the JKV Foundation. We sell the securities and apply the proceeds to the charitable purpose(s) that you designate. You claim an income tax charitable deduction based on the fair market value of the securities and also avoid capital gains tax on the securities’ appreciation.
Donor Profile:
● Donors who hold highly appreciated securities for a number of years.
● For donors who do not plan on selling the stock.
Life Insurance
Large Gift, Little Cost
Details: You designate the JKV Foundation as a beneficiary of your life insurance policy. When the time comes, the JKV Foundation receives the proceeds. Thus, you can provide a large gift to benefit the JKV Foundation for relatively little cost. The policy proceeds distributed to the JKV Foundation will be exempt from estate tax.
Donor Profile:
● Donors who hold a paid-up life insurance policy where no one needs the proceeds.
● Great for those who do not want to affect current cash flow.
● The donor will have the flexibility to change his/her beneficiary designation later if his/her circumstances change.
Gifts of Real Estate
Tired of Maintaining It?
Details: Real estate makes a great gift. When you deed property to the JKV Foundation, you receive an income tax charitable deduction for the value of the contribution. Plus, you can elect to make an outright donation or use the value to fund a gift that pays you income. Either way, you make a generous gift to the JKV Foundation and those it serves.
Donor Profile:
● Donors whose property will face significant capital gains tax and who do not need (or want) to pass their property on to an heir are the best prospects for a real estate gift.
● Also perfect for those who have properties that are tough to maintain or vacation homes they no longer want.
Personal Property
Paintings? Antiques?
Details: You can make a significant gift by transferring a painting, antiques, collectibles—any “appreciated stuff”—to the JKV Foundation. In return, you receive an immediate income tax deduction and pay no capital gains on the appreciation. The JKV Foundation can either hold the property, display it, or sell it and apply the proceeds to the purpose you choose.
Donor Profile:
● Donors who have appreciated property and no heirs, or no interested heirs, are the best match for this type of gift.
● In some cases, prospects have heirs, but they own appreciated personal property that their heirs do not want or cannot use.
Retirement Plans
Avoid Heavily Taxed Assets to Heirs
Details: You name the JKV Foundation as the beneficiary of a portion or all of your IRA, 401(k), or other retirement account. When the time comes, the amount designated passes to the JKV Foundation income- and estate-tax free.
Donor Profile:
● Donors who hold a 401(k), IRA, or other retirement plan and do not need the additional income.
● Donors who want to give the most heavily-taxed assets in their estate to the JKV Foundation and leave more favorably-taxed property to their heirs.
Gifts That Protect Assets
Maintain the benefits of an asset.
Lead Trust
Reduced Gift or Estate Tax
Details: With a Charitable Lead Trust when you make the gift, the trust pays income to the JKV Foundation first, typically for a term of years. After that, the trust assets are passed back to you or other family members you designate.
Donor Profile:
● Charitable Lead Trusts are for donors who want to fund a gift now and transfer tax-advantaged wealth to another generation.
● Lead Trusts work best when funded over $1,000,000, meaning this gift plan is for wealthy donors.
Gifts That Provide Income
Reduced Gift or Estate Tax
These gifts pay you in return.
Gift Annuity
The Gift That Pays You Back
Details: You can give and get! In a Charitable Gift Annuity, you and the JKV Foundation agree to exchange your irrevocable transfer of cash or securities to the JKV Foundation for a fixed income payment to you— for life. The gift also entitles you to an immediate charitable income tax deduction. At the end of its term, the annuity balance goes to the JKV Foundation to support its mission. No wonder the Charitable Gift Annuity is one of the most popular of all planned gifts!
Donor Profile:
● Charitable Gift Annuities are great for donors who want to make a gift but need retirement income now in order to take care of current or anticipated expenses.
● Typically, this is for conservative donors who are cash conscious or who are concerned about their own or a spouse’s needs as they age.
● Donors who are concerned about their children’s retirement may be interested in funding a deferred flexible gift annuity for their children’s benefit.
