Legacy and Charitable Gifting

The Legacy Charitable Gifting programs of the Council on Aging, Inc. allow seniors, their families, and community members the opportunity to support the programs, services, and mission of the agency. Donors who pledge their support have the opportunity to provide a gift to the agency during their lifetime, known as a Charitable Gift; or after their life time, known as a legacy gift such as a bequest (remembering the COUNCIL ON AGING, INC. in your will). Through this program, donors will have the satisfaction of knowing that their gifts will help make a positive difference in the lives of seniors for generations to come. When they are ready to participate, we want to be able to offer your children, and even your grandchildren, the same services and programs that you have enjoyed.

One common myth is that the only way to support the Council on Aging, Inc. is by writing a check or providing a cash donation. While we do accept these types of gifts, there are many other types of asset gifts donors can contribute. Gifts commonly include real estate, homes, life insurance policies, and even cars. Your individual financial goals and personal values will help determine the most appropriate asset to contribute.

A primary question to consider first is, have you made out a will? If you have not, or it is time to update your will, regardless of your charitable intent, please consider this:

 If your goal is to:

 Then you can:

Your benefits may include:

 Make a quick easy gift

Simply write a check now, or make a planned
gift of money throughout a specified time period

An income tax deduction and immediate positive impact to the COUNCIL ON AGING, INC.

Avoid capital gains tax  

Contribute long term
appreciated stock or other securities 

A charitable deduction plus no capital gains tax 

Defer a gift until after your lifetime 

Put a bequest in your will (donating cash,
property, or a share of the residue
of your estate to the COUNCIL ON AGING, INC.) 

 Your donations are fully exempt from federal estate tax 

Avoid capital gains tax on the
sale of a home or other real estate 

Donate the real estate to us,
or sell it to us at a bargain price 

An income tax reduction, plus reduction or elimination of capital gains tax 

Give your personal residence or farm, but retain lifetime use 

Create a charitable gift of
future interest, called a retained life estate 

It gives you tax advantages plus use of the property 

Make a large gift with little cost to you 

Contribute a life insurance
policy that you no longer need 

Current and possible future income tax deductions 

Secure, fixed payments for life while avoiding market risks 

Create a charitable remainder annuity trust 

It gives you tax benefits and often boosts your rate of return 

Make a revocable gift during your lifetime 

Name us as the beneficiary of
assets in a living trust 

Full control of the trust terms for your lifetime 

Avoid the twofold taxation on IRA or other employee benefit plans 

Name us as the beneficiary of the remainder
of the retirement assets after your lifetime 

Lets you leave your family other assets that carry less tax liability 

Support through these programs also offers you and your family tax relief. By providing a Charitable Gift during your lifetime, you can receive immediate tax relief. If you chose to contribute a Legacy, then your heirs will be better able to utilize their inheritance with fewer concerns for estate tax and time spent in probate court. Your personal and family financial and gifting goals will help determine a gifting option that is right for you