Planned giving provides you with the greatest opportunity to make a significant impact over an extended period of time and to create a true legacy for your loved ones. Further, planned gifts allow you to take advantage of a range of benefits, such as:
- Reducing your taxes.
- Increasing your income.
- Conserving your family's wealth.
- Fulfilling your charitable goals.
- Promoting your special interests
Donors who make a planned gift of any kind will be recognized as members of The Lincoln Legacy Society. If you are interested in any of our Planned Giving options, we will be pleased to work with you and your advisors to develop a planned gift that best suits your particular needs.
A number of plans allow you to make a gift to the network and receive an income for yourself and your beneficiaries. The most common plans are charitable gift annuities and charitable remainder trusts. These benefits include:
- Increased cash flow to yourself while still making a significant gift to the John C. Lincoln Health Network.
- Income tax savings if you establish it during your lifetime.
- Possible estate tax savings.
- Partial or complete bypass of capital gains tax when you fund the gift with appreciated property.
Retirement Plan Assets
One frequently overlooked way you can make a charitable contribution is by using qualified retirement plan assets. Retirement plan assets are one of the most taxed assets at death in larger estates, subject to both income tax and estate tax. While current tax law does not allow you to transfer these assets directly to the John C. Lincoln Health Foundation during your lifetime, naming the Foundation as the beneficiary on your account could avoid both income and estate taxes on the account at your death. These benefits include:
- Retain control of assets for life. Should your circumstances or interests change, you can change your beneficiary choice to reflect your new wishes.
- Estate tax savings for estates over a certain size.
If you have a life insurance policy that you no longer need, a gift of a life insurance policy can be a way to combine charitable objectives with tax advantages for you. You also could buy a new policy to provide a substantial gift at your death.
You may receive an income tax deduction when you name the John C. Lincoln Health Foundation as an irrevocable beneficiary or owner of a life insurance policy. If you continue to make premium payments after you have made the gift, those payments may also be deductible. The amount of the deduction depends on the type of policy contributed. 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.