You don’t need to be a millionaire to give a planned gift and there are more ways to do it than a bequest in your Will.
There are many ways that you can give an impactful gift that benefits both you and Huron House, whether now, in the future, or both. You can also do it in a way that doesn’t take away from being able to provide for your loved ones, it may even benefit them.
Here are some common ways that people choose to give to get you started thinking about the type of planned gift that might work best for you:
Why consider a planned gift?
- Maximizing your impact on a cause that matters to you
- Wills are more than just a legal formality to distribute your assets, they can be a powerful tool for change in the world. A gift that might not seem like a lot now can mature and provide more for Huron House than you might think. Knowing we can expect a planned gift helps us plan for our future.
- Tax Benefits
- Bequests don’t have to compete with providing for family members, you can easily do both and reduce, or in some cases even eliminate the taxes that need to be paid on the estate. Other methods of planned giving can offer you tax benefits right away, most often a charitable receipt for your income tax.
- A bequest can be for any specific amount, percentage or residue of your estate, and you can adjust it whenever you like.
- There are no, or very small extra out-of-pocket costs. Your current income won’t be affected.
We’ve compiled some more information here that highlights additional benefits and details if you would like to explore further, as well as some sample language you could use when preparing a Will.
Have you or someone you love included a bequest to Huron House in a Will? Please let us know! You don’t have to, but it’s helpful for us to be aware of gifts that are coming in the future to plan for how to put them to best use. You can also let us know if you have any specific wishes for the use of the funds.
If you would like to speak more about giving a planned gift to Huron House please get in touch with us at 519-869-4000 or email [email protected].
Note: This is just a brief introduction and not intended to provide any financial or legal advice. We encourage you to seek independent professional advice from a qualified lawyer or financial advisor to ensure proper planning and donation administration.