The planned gift information presented here is intended only to provide you with with an overview of giving options. As you take steps to create your personal legacy, we recommend that you consult your attorney or financial advisor.
A will is the simplest way to distribute your estate and can be used as a creative vehicle to provide for the needs of loved ones and make thoughtful gifts to those charities you care about most. You can make a gift to the ETV Endowment through your will or via a codicil to your will. This is a bequest. You can bequeath a specific sum or a percentage of your estate. A bequest enables you to make a lasting gift to SCETV while retaining full control of your assets throughout your life and can reduce estate taxes.
Sample Wording for Wills
To change your existing will - Download Sample Language
To give a % of your estate - Download Sample Language
To give a specific amount - Download Sample Language
To give a gift of property - Download Sample Language
Revocable Living Trust
A revocable living trust allows you to pass your property on to loved ones while minimizing probate costs. Similar to a charitable bequest through a will, such a gift is deductible from estate taxes and can be delayed until provisions have been made for all family members.
A simple way to make a significant gift in the future is to name a charitable organization as beneficiary to receive all or a portion of the proceeds of a life insurance policy. Not all life insurance coverage may be needed for the reason it was initially purchased and could be used as a convenient way to fund meaningful charitable gifts. Another way to make a gift of insurance is to purchase a new policy, naming a favorite organization as beneficiary. One of the benefits of this gift option is that if the policy is designated with an irrevocable charitable beneficiary, the premiums are tax deductible.
Retained Life Estate
When you make a gift of your home or certain other real estate now, you can receive a current tax deduction while retaining the security of knowing that you can live there as long as you wish and having the satisfaction of making a significant gift to SCETV. You continue to care for the property, pay the taxes and even receive any income it generates while living there. Upon your death (or that of a loved one), the property goes to the ETV Endowment without passing through your probated estate, thereby saving unnecessary expense and delay.
Life Income Gifts
Charitable Remainder Trust (CRT)
A charitable remainder trust is a way to make a gift that allows you to retain income from your property for life or for a period of time that you specify. Your funds are held separately and invested for payment of a fixed or variable income to you and/or someone else you name. Such payments can be a welcome supplement to your retirement plan. When the trust ends at the death of the income recipient or at the end of the specified period of time, whatever remains in the trust is distributed for the charitable purposes you specify. A tax deduction is allowed at the time the trust is created. The size of the deduction depends on beneficiary age(s), payment percentage and other factors.
Charitable Lead Trust (CLT)
A charitable lead trust provides a substantial gift over a period of years while ensuring that the property will ultimately return to the donor or to loved ones. The lead trust is one of the few ways to reduce or eliminate taxes that otherwise would be due on assets left to children or grandchildren. Under the terms of a CLT, assets are transferred to a trust that pays income to one or more charitable recipients for a number of years you determine. At the end of that period, the assets remaining are returned to you or other persons you name.
A charitable gift annuity is a contract between you and the ETV Endowment whereby you transfer cash or securities to the Endowment and, in exchange, the Endowment agrees to pay you (and/or another beneficiary) a guaranteed fixed income for life. You receive a current income tax deduction in the year of your gift as well as potential future income tax savings. You realize income and tax benefits today for a gift that you might otherwise have planned to make in the future through your will or other long-range plans.
Whether you are participating in a company pension plan or other private plan, such as an IRA (Individual Retirement Account), you may have accumulated funds beyond your needs for the comfortable support of yourself and loved ones. Such excess funds may be given during your lifetime (subject to minimum age requirements for penalty-free withdrawals) or at death. Either way, a gift from such accounts can help perpetuate the work of SCETV that you consider so vital for the well being of future generations. It can be satisfying to know that the funds you carefully save over a lifetime may ultimately be put to good use now or as a part of prudent estate planning. In many retirement plans, any funds remaining in the account at death may be subject to very high taxes if left to non-charitable heirs.
Stocks, Bonds, Securities
A gift of stocks, mutual funds or other publicly traded securities earns you an income tax charitable deduction equal to the fair market value of the securities on the date of the gift, and you will pay no capital gains on the transfer of these securities to the ETV Endowment. This can reduce the cost of making a gift or increase the amount you can afford to give. If you hold assets that have declined in value and would like to make a gift, it may be to your advantage to sell the assets and perhaps generate a deductible loss. The proceeds may then be donated as a tax-deductible contribution to the ETV Endowment, further reducing your income taxes.