By planning now to include Friends of Hunt Hill Sanctuary, Inc. in your estate, you are able to make a bigger difference at Hunt Hill without having to provide funds immediately. After providing for your loved ones, please consider leaving a legacy for environmental education and protection. Listed below are a few options available to you.
Include Friends of Hunt Hill Audubon Sanctuary, Inc. (FOHHAS) as a beneficiary in your will or to receive assets such as retirement plans, IRAs, 401(k)s, 403(b)s, or life insurance policies after you’re gone. By filling out a form that is separate from your will, it makes the process an easy way to give.
Considering giving your IRA to loved ones? When you name anyone other than your spouse as beneficiary of your IRA, it will be exposed to heavy taxation, leaving less for your heirs. Upon your death, the income tax bill can take as much as 39.6%. Consider giving IRA assets to Hunt Hill and other assets that are not as heavily taxed to family members. As a nonprofit organization, we are tax-exempt, and thus receive 100% of your IRA contribution.
- Decide what percentage you want to give to FOHHAS.
- Contact your IRA administrator for a change-of-beneficiary form.
- Name “Friends of Hunt Hill Audubon Sanctuary, Inc.” and the gift percentage on the form.
- Return the form to your IRA administrator.
- Let us know about your plans so we can thank you (we do honor anonymity).
If you are age 70 1/2 or older, you can give up to $100,000 from your IRA directly to a qualified charity such as Friends of Hunt Hill Audubon Sanctuary, Inc., without having to pay income taxes. The law permitting this type of gift, called an IRA Rollover, no longer has an expiration date, thus making this a great way to give annually. The transfer does not generate taxable income or a tax deduction, so you still benefit even if you don’t itemize your tax deductions. If you have not taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
Does your employer offer a corporate matching program? If so, you have the potential of having your donation to FOHHAS doubled! Learn more about employee match programs here, or check with your HR department.
RETAINED LIFE ESTATE & LIVING TRUSTS
Donate land with a retained life estate clause that would allow you to live on the property as long as you wish. Check with your tax adviser or attorney for possible tax advantages – for property taxes, capital gains taxes, and charitable donation tax deduction.
A living trust gives ownership of assets but keeps your rights to the assets while you're still alive.
Publicly traded securities held for more than one year – such as stocks, bonds, exchange-traded funds, and mutual funds can be donated to Hunt Hill to support our sanctuary and programming. Through the donation of these long-term appreciated securities, you can potentially eliminate the capital gains tax you would incur if you sold the asset yourself and donated the proceeds. The learn more, check out this article from Schwab Charitable.
Please note: The information on this website is not intended as legal or tax advice. Please check with an attorney or tax adviser for their professional guidance based on your situation.