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If you have not done so, take time to write down and legalize how you would like your estate to be distributed. A properly completed will designates your beneficiaries, which can include charitable organizations such as SIM. Indeed, there are tax benefits in carefully planning the use of your estate.
SIM has prepared step-by-step guidelines that will assist you in gathering all the relevant information. Then your lawyer can prepare the legal document for you.
The memorial gift is a wonderful way to remember a beloved family member or friend. SIM will send a tax-deductible receipt to the donor and an appropriate card to the family informing them of the gift received in memory of their loved one.
A "Gift Plus Annuity” includes a donation. This donation is a direct gift to SIM and is receipted as a tax-deductible contribution.
The annuity guarantees the donor a fixed income for life and is purchased from a reputable insurance company. Current annuity quotations will be supplied upon request.
Paid-up insurance policies, which are no longer required for your personal needs, are an effective way to give. SIM will issue a tax receipt for the net cash surrender value of the policy.
There are also other ways that you can utilize life insurance for planned giving.
You would invest funds in a trust, and decide on the income designation. You would also reserve the right to be able to recall the trust in full or in part. You can name SIM as the beneficiary along with others. Neither the donor nor the estate receives a charitable tax receipt.
An individual can loan funds and designate SIM as the beneficiary on death. A tax receipt would be issued at the time of death for the gift. The lender can recall the loan in full or in part at any time.
This plan enables people to give part of their capital to SIM and to receive an income for as long as they live. There are tax advantages to donors as a tax receipt is issued for the present value of the gift.
SIM has immediate use of the loan. The individual may recall the loan in full or in part at any time. You would designate the income beneficiary to be SIM. There are not any tax implications with this plan. |
