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dan and sue williams

 

To help support our legacy for Wisconsin communities

There’s a way that you—literally each and every person who visits here—can help preserve the unique Wisconsin Lions Foundation projects legacy of service through the Lions Pride Endowment Fund of WI, Inc.

The options are many ...

From simply channeling your routine internet searches through Good Search/Shop to making a multimillion dollar gift … from an on-line donation or memorial gift to a life income gift … from a single cash contribution to a multiple year personal pledge commitment … from an employer’s matching gift program to a tax advantaged estate plan … from making a bequest to communicating with us about a potential personal referral to a friend, family member or organization you believe could contribute.

You’ll find additional ideas and Planned Giving information highlighted here, including many ways to contribute to the Lions Pride Endowment Fund of WI, Inc. that can provide you with personal and/or your heirs with estate tax benefits. We hope you’ll find the material informative and helpful. And, of course, just contact us for more information, including specific literature for you and your personal professional advisors.

Tax Considerations and Planned Giving
While many gifts are made in the form of cash, important advantages can be possible when gifts are made using other property that has increased in value.

Another important consideration is the potential tax issues for your heirs. For example, if a donor has both life insurance and IRAs, it would be more advantageous to gift the IRA to the Lions Pride Endowment Fund of WI, Inc. and your life insurance to your heirs. The IRA would be tax-free to the Foundation but taxable to your heirs.

We would be happy to answer any general questions that you may have, or you can consult with your attorney, tax advisor, or financial representative.

Gifts of Appreciated Property
When stocks, bonds, mutual funds, real estate and other appreciated assets are sold, tax is due on any capital gains.

Those who enjoy making charitable gifts are often pleased to learn that when long-term appreciated property (held more than 12 months) is given, an income tax deduction is generally allowed, based on the current value of the property rather than its cost. It is usually best to donate property that would be subject to the highest amount of tax if sold.

The combined benefits of bypassing tax on the capital gain, receiving an income tax deduction, and making a charitable gift can be substantial.

Increasing Retirement Income
Many of the plans described here can be a welcome addition to retirement plans. Assets that have increased in value but yield little income can be used to fund a charitable gift plan that offers you income benefits and help your assets do “double duty.”

The payments received from the gift plan will generally be based on the full value of donated property, not just what would be left after payment of tax on gain if the property were sold. Tax savings will also be enjoyed from the deduction available when the plan was created. This amount can be invested for greater income.

Federal Estate and Gift Taxes
While tax legislation enacted in 2001 resulted in more people being exempted from federal gift and estate taxes, many people are concerned about the likelihood of further exemption changes. Others may find that the value of their assets now exceeds or will grow at a faster rate than the exemption amounts. This is especially true of gift taxes where the exempt amount is not presently scheduled to rise above $1 million per taxpayer and the tax is planned to continue even if the estate tax is eventually eliminated.

Benefits of Planning
Careful planning of charitable gifts makes it possible to make multiple gifts. By selecting the best assets to fund gifts, the timing and the methods used to make them, it can be possible to make larger fits while minimizing or eliminating federal estate and gift taxes that might otherwise be due. This can be accomplished while preserving or actually enhancing your own and your heirs’ financial well-being.

Charting Your Own Course: the Safari Legacy Society
A good place to start is by listing the people, property, plans and planners that will comprise your financial considerations and decision-making. When listing the “people” in your life, you may with to include the Lions Pride Endowment Fund of WI, Inc. Through it, you will help support and preserve the shared Lions legacy of services to Wisconsin communities that is the Wisconsin Lions Foundation.

Membership in the Lions Pride Safari Legacy Society is extended to those who provide for the Lions Pride Endowment Fund of WI, Inc. through a planned giving program of at least $20,000. Seven planned giving tools can be used individually or in combination to help you make charitable gifts while achieving the financial and estate planning goals that are important to you.

GIFTS BY WILL
Cash, securities, real estate or personal property can all be given to the Lions Pride Endowment Fund of WI, Inc. through a well planned will. A bequest can be simply stated as follows:

“I give and bequeath to the Lions Pride Endowment Fund of WI, Inc. ___%
of my total estate (or $_____ or other property.”

Such a provision creates an unrestricted bequest that assures the gift will be used where it is most needed. A gift bequest may also be designated for a specific WLF program, purpose or mission. In order to be recognized for Safari Legacy Society membership a copy of the will or a lawyer’s statement is needed and should be mailed for safekeeping to: Lions Pride Endowment Fund of WI, Inc., 3834 County Road A, Rosholt, WI 54473.

CHARITABLE REMAINDER ANNUITY TRUST (CRAT)
This is an irrevocable trust that provides income based on the value of the property donated. The CRAT pays a fixed income to the donor or other beneficiary for life or a specified period of time based on the value of the assets at the time the trust is created.

When the trust is created, capital gains tax can be avoided or postponed and an income tax deduction is available for a portion of the value of the property. This can possibly provide a higher level of income to the donor than if the asset had been sold, capital gains tax paid and the balance invested. Upon termination of the trust, the remainder goes to the Lions Pride Endowment Fund of WI, Inc.

CHARITABLE REMAINDER UNITRUST (CRUT)
This is also an irrevocable trust that features income based on the value of the property donated. The CRUT however pays a fluctuating income based on a fixed percentage of the trust’s annual income to the donor or other beneficiary for life or a specified period of time. Benefits are the same as the CRAT. By removing the asset from your estate, both the CRAT and CRUT can provide estate tax benefits.

CHARITABLE LEAD TRUST
This is an irrevocable trust that provides income to the WLF Lions Pride Endowment Fund of WI, Inc. for a specified period of time or life. Through use of this tool, it can be possible to transfer assets to heirs while paying little or no estate or gift taxes while benefiting the Lions Pride Endowment Fund of WI, Inc. during the term of the trust. This plan is especially attractive for those who believe they may be subject to these taxes.

LIFE INSURANCE PLANS
Life insurance can be an excellent way to leave a gift to the Lions Pride Endowment Fund of WI, Inc. You can gift an existing policy or purchase a new plan. This provides the opportunity to magnify your gift at a cost of the premiums. Your premiums are tax deductible on new plans and the cash value is the approximate tax deduction on existing plans. Your agent or financial representative can help you make the correct ownership and beneficiary changes.

RETIREMENT PLANS
Whether an employer retirement plan or a private fund such as an Individual Retirement Account, or a combination, you can name the Lions Pride Endowment Fund of WI, Inc. as the final beneficiary (either primary or contingent beneficiary depending on your circumstances) of any remaining funds that you or your loved ones do not use. Giving retirement plans can help maximize tax savings to your heirs.

You can indicate a specified dollar amount or percentage of assets you wish to allocate to the Lions Pride Endowment Fund of WI, Inc. This can be designated when the fund is first established or it can be added later. Your plan administrator or financial representative can help you make the correct beneficiary designations.

In 2011 a special IRA tax provisions permits those over 70-1/2 years old, required to make a withdrawal, to donate withdrawn IRA funds without incurring personal tax liability.

 
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