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Planned Giving

Estate Planning Alternatives

Income-Producing Plans

Charitable Lead Trusts

Bequests

Gifts of Life Insurance, Annuities and Retirement Plans

Del Mar Community Connections has a Planned Giving Program designed to support and sustain DMCC’s community service activities far into the future, and at the same time benefit those who choose to participate.   Through DMCC's new Planned Giving Program, we offer you the opportunity to learn about estate planning alternatives that you may choose to help DMCC grow to its full potential for future generations!

Why Incorporate Planned Giving?

Estate planning is an easy thing to put off. Maybe you think it's too early; maybe you think your estate is too small. Estate planning is valuable to everyone, regardless of your age and economic position. Here are some good reasons why you should plan your estate now

With a Plan:

  • You decide who receives a share of your assets
  • You decide how and when your beneficiaries will receive their inheritance
  • You decide who'll manage your estate (Executor, Trustee, etc.)
  • You can reduce estate taxes and administrative expenses
  • You can provide for the orderly continuance or sale of a family business.
  • You can provide for charitable bequests in an orderly manner
  • You can receive tax benefits from incorporating planned giving into your estate plan

Without a Plan:

  • State laws determine who inherits your assets — they could pass to an estranged relative
  • Law sets the terms and timing — your children could be left unlimited control of a sizable estate
  • The court appoints administrators, whose ideas may not be compatible with your own
  • Costs are usually greater, due to required administrative expenses and unnecessary taxes
  • Financial loss and family hardships may result from an untimely forced sale
  • The people or organizations you favor may not receive what you would like them to receive

Del Mar Community Connection’s Planned Giving Program can help by informing you about your estate planning alternatives. Before making any decision regarding this program, however, DMCC urges you to contact a financial planner, attorney or accountant of your own choosing. If you need assistance in obtaining such assistance, DMCC can provide you with a list of qualified professionals.


Estate Planning Alternatives

Planned giving is a way to give to those who give to you. By incorporating DMCC in your Estate Plan, you and your family can receive tax benefits and help to keep the purpose of DMCC alive.

Planned gifts are a great way to balance your family and philanthropic goals into an integrated estate plan. Planned Giving allows you to plan for the future and make a gift to Del Mar Community Connections in ways that complement your estate planning goals. Here are some of the more common types of planned gifts:

  • Income-Producing Plans: Charitable Gift Annuities and Charitable Remainder Trusts
  • Charitable Lead Trusts: Support DMCC now and still leave assets to your heirs
  • Bequests: Make a gift by will or through your revocable trust

Gifts of Life Insurance, Annuities and Retirement Plans: Provide substantial gifts with insurance and retirement asset


Income-Producing Plans

A number of plans allow you to make a gift to Del Mar Community Connections and also receive an income for yourself and your beneficiaries. Two of the most common plans are charitable gift annuities and charitable remainder trusts.


A charitable gift annuity is one of the easiest and most popular ways to make a charitable gift and receive an annual income. You make a bequest, and the charity agrees to provide you with income for life. Actual amounts will vary based on amount of bequest and age of the donor.

A charitable remainder trust makes periodic payments to one or more individuals for life or for a term of years. You make a gift to DMCC and you receive tax benefits and savings. Thinking of selling your home? Stocks? Don’t want to pay capital gains tax? A charitable remainder trust can provide you with an income stream for life, an income tax deduction, and reduction in estate taxes.


Charitable Lead Trusts

A charitable lead trust can provide significant charitable and tax benefits. During the term of the trust, a percentage of the assets is paid out each year to the DMCC program of your choice, and at the end, all of the remaining assets can return to you or pass to your heirs. Gift or estate tax paid on this gift can be reduced because the present value of the payments to DMCC is subtracted from the value of the gift.

This strategy is especially useful for families with assets that generate predictable income and have appreciation potential. A charitable lead trust can be an excellent way to support DMCC while preserving estate assets and to pass on family business interests or other appreciating assets to family members with reduced taxes.


Bequests

When you leave a bequest, you can make a generous gift without reducing your current income. Gifts in wills or revocable trusts are often the foundation of any major planned giving effort. You can specify the programs that you wish your gift to benefit. You also can create special funds in your name or in memory of loved ones. Charitable bequests are normally deductible in full for estate tax purposes. There are a number of ways you can affect your bequest:

  • General Unrestricted Real Bequest — Gives DMCC discretion of how to best utilize the funds gifted for any DMCC purpose
  • Specific Program/Unrestricted as to Use — Gives DMCC limits as to which programs may be funded by the bequest, but grants authority to use as needed within the specified program
  • Restricted — To be used only for specific purposes, e.g., purchase of bus
  • Bequest of Residue — Gives to DMCC after all other bequests are made
  • Contingent Bequest — Gives to DMCC if other bequests cannot be completed
  • Addition to Endowment Fund – Reduces capital costs; contributions help with current expenses and campaigns

Gifts of Life Insurance, Annuities and Retirement Plans

If you have a life insurance policy that you no longer want to pay for, a gift of a life insurance policy can be a way to combine charitable objectives with tax advantages for you. DMCC will entertain gifts of life insurance.
An irrevocable gift of life insurance may be appropriate when the growth of your assets or the reduced needs of your dependents make the policy unnecessary. A beneficiary designation on your annuity or other retirement plan may be useful when you feel your income from other sources will be sufficient and you have taken care of your heirs through other aspects of your estate plan.
Because the tax laws regarding gifts of life insurance policies are complex, please contact us for assistance with your specific insurance policy.

 

Please call 858-792-7565 or email us at email@dmcc.cc for additional information on how you can save on estate taxes and also secure the future of DMCC through our Planned Giving Program.

 

 

 

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