The meaning of life is to find your gift. The purpose of life is to give it away.
– Pablo Picasso
What is Planned Giving?
A planned gift, also known as a legacy gift, includes bequests, trusts, charitable gift annuities, named endowments and other estate planning vehicles.
You can make a legacy gift by including United Church Homes in your estate plans. Donors who have made a legacy gift to UCH are recognized as Pillar Society members. The Pillar Society recognizes those who have remembered our communities through the use of a planned gift.
The IRA Charitable Rollover
Are you 70 ½ or older, have an IRA, a spirit of giving AND want to save money on your taxes?
If yes, use your IRA account for your charitable giving to satisfy your required minimum distribution that will reduce your adjusted gross income, thus saving taxes.
Simply contact the financial institution holding your IRA and instruct them to make a qualified charitable distribution to the charity(ies) of your choice. You can save income tax on this charitable gift even if you do not itemize on your tax return. Additionally, the reduction of adjusted gross income may reduce the taxation of Social Security benefits, the cost of Medicare, any deductibility “floors” limiting certain expenses (e.g., 7.5 percent for medical expenses in year 2023) and various other tax items.
While the IRA charitable rollover provides unique tax benefits not found with other types of gifts, there are some requirements and restrictions. You must be age 70 ½ or older at the time of the gift and are limited to $100,000 you can transfer to qualified public charities each year. Additionally, it is required that the gift come directly from the IRA administrator to the charitable organization. You can’t receive your distribution and then pass it on to the charity. Lastly, the charity cannot have provided you any goods or services in exchange for the IRA charitable rollover.
If you would like to learn more about making a contribution to United Church Homes from your IRA, please contact Gloria Hurwitz, Vice President of Advancement, at firstname.lastname@example.org or 740.751.8702. Additionally, to take advantage of a complimentary values-based estate planning process that United Church Homes is making available to you, contact Gloria Hurwitz using the above contact information.
Values-Based Estate Planning
United Church Homes offers complimentary, values-based estate planning services from an expert adviser. Paul Grassmann, of Thompson & Associates, assists families or individuals monthly as they navigate practical, emotional and legal issues related to making a legacy gift. Below, Paul answers questions regarding estate planning documents and financial resources as they relate to life expectancy.
Planning Process Testimonial
Testimonial from UCH Board Member and donor, Sandy Lindahl.
Donors Making a Difference
You can leave a legacy through planned giving! Endowments are a great way to influence the future success of senior living. Independent residents at Glenwood Community are rallying together to ensure wonderful care for future residents by starting the Glenwood Community Endowment Fund.
Click here to read more.