What are my options for making a planned gift?

 

We can help you take those first important steps toward planning your estate with some basic information. You will learn how the most popular and useful charitable giving techniques can help you fulfill your philanthropic and financial goals. The rewards are many! You can guarantee security for yourself and your loved ones, support charitable organizations of importance to you, reap financial and tax benefits, and find peace of mind. We would be happy to give general information, but we always recommend that you consult your own financial or legal adviser.

If you are considering a planned gift but are unsure which type of gift is right for you, begin your research by downloading our Planned Giving Goals, Strategies and Benefits Chart or by reviewing the planned giving options listed below.

Bequest

How It Works

  1. You provide now for a future gift to the Symphony by including a bequest provision in your will or revocable trust.
  2. Your will or trust directs assets to your heirs.
  3. Your will or trust directs a bequest to the Symphony for the purpose(s) you specify.

Benefits

  • Your assets remain in your control during your lifetime.
  • You can modify your bequest if your circumstances change.
  • You can direct your bequest to a particular purpose (be sure to check with the Symphony to make sure your gift can be used as intended).
  • There is no upper limit on the estate tax deductions that can be taken for charitable bequests.
  • You can have the satisfaction of knowing that your bequest will support the Symphony in the way you intended when you are gone.

Charitable Gift Annuity

How It Works

  1. You provide now for a future gift to the Symphony by including a bequest provision in your will or revocable trust.
  2. Your will or trust directs assets to your heirs.
  3. Your will or trust directs a bequest to the Symphony for the purpose(s) you specify.

Benefits

  • You receive an immediate income tax deduction for a portion of your gift.
  • Your annuity payments are guaranteed for life, backed by a reserve and the assets of the Symphony.
  • Your annuity payments are treated as part ordinary income, part capital gains income (15%), and part tax-free income.
  • You can have the satisfaction of making a significant gift that benefits you now and the Symphony later.

Charitable Lead Trust

How It Works

  1. You contribute cash, securities or other property to a trust.
  2. The trust makes fixed annual payments to the Symphony for a specified term of years.
  3. When the trust ends, the remaining principal goes to your heirs.

Benefits

  • You qualify for a gift tax deduction for the present value of the annuity payments to the Symphony.
  • The annuity payments and the term of the trust can be specified in such a way so as to reduce or even eliminate the transfer taxes due when the principal reverts to your heirs.
  • All appreciation that takes place in the trust goes tax-free to your heirs.
  • You can use your available estate tax credit to further reduce taxes on transfers to your heirs.
  • You can have the satisfaction of making a significant gift to the Symphony that reduces the taxes due on transfers to your heirs later.

Deferred Gift Annuity

How It Works

  1. You transfer cash, securities or other property to the Symphony.
  2. Beginning on a specified date in the future, the Symphony begins to pay you, or up to two annuitants you name, fixed annuity payments for life.
  3. The principal passes to the Symphony when the contract ends.

Benefits

  • You receive an immediate income tax deduction for a portion of your gift.
  • You can postpone your annuity payments until you need them, such as when you reach retirement or when a grandchild begins his or her college education.
  • The longer you defer your payments, the higher the effective rate you will receive. In the meantime, the principal grows tax-free.
  • You can have the satisfaction of making a significant gift that benefits both you and the Symphony later.

Charitable Remainder Annuity Trust

How It Works

  1. You transfer cash, securities or other appreciated property into a trust.
  2. The trust makes fixed annual payments to you or to anyone you name.
  3. When the trust ends, the principal passes to the Symphony.

Benefits

  • You receive an immediate income tax deduction for a portion of your contribution to the trust.
  • You pay no capital gains tax on any appreciated assets you donate.
  • You or your designated income beneficiaries receive stable, predictable income for life or a term of years.
  • You can have the satisfaction of making a significant gift that benefits you now and the Symphony later.

Charitable Remainder Unitrust

How It Works

  1. You transfer cash, securities or other appreciated property into a trust.
  2. The trust pays a percentage of the market value of the assets re-valued annually to you or to beneficiaries you name.
  3. When the trust ends, the principal passes to the Symphony.

Benefits

  • You receive an immediate income tax deduction for a portion of your contribution to the trust.
  • You pay no capital gains tax on appreciated assets you donate.
  • You or your designated beneficiaries receive income for life or a term of years.
  • You can make additional gifts to the trust as your circumstances allow and qualify for additional tax deductions.
  • You can have the satisfaction of making a significant gift that benefits you now and the Symphony later.