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Estate Planning
Planned Giving
Making a planned gift to LCAS is a meaningful way to carry forward your
compassion and concern for animals. Additionally, this type of giving may help
you achieve specific financial goals, such as reducing or eliminating certain
tax liability.
We would be glad to discuss any planned giving option with you - in
confidence and without obligation.
Contact: Lonnie Ells CPA
Lewis Clark Animal Shelter's Certified Public Accountant
634 Bryden Ave
Lewiston, Idaho 83501
(208)746-3681 phone
(208)746-3682 fax
lonnie.ells@clearwire.net
There are several planned giving options:
The information provided is general in nature and not intended as legal
advice. You may wish to consult with an attorney or tax advisor to determine
which giving opportunity is best for you.
Bequests
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 Leaving a legacy for animals through your will
Perhaps the most straightforward planned giving option is to make a
bequest in your will. Regardless of your age or financial status, a will is
essential to ensure that your property is distributed according to your wishes
instead of the arbitrary laws of the state
in which you live.
Bequests made through your will may take various forms:
A bequest to LCAS is not subject to Federal or estate taxes, and there's no
limit on the amount of the deduction. Most importantly, your bequest to LCAS
will help ensure the organization's ability to provide care and protection for
animals in future years.
Charitable Gift
Annuities
Stock market volatility keeping you awake at night? An LCAS Charitable Gift
Annuity might be the perfect answer for you, providing a source of secure, fixed
income for life. Now, that should help you rest easy!
An LCAS Charitable Gift Annuity for one-life may be established with a
minimum of $5,000 and provides an immediate tax deduction (as well
as lifetime income for the annuitant). Gift annuities may be a good option for
donors age 65 and older.
Charitable
Remainder Trusts
Great giving tool for those with significantly appreciated assetsA charitable remainder trust is one of the more complex estate planning
options but provides the donor greater flexibility. CRT's can be a very good
choice for those who own significantly appreciated assets (such as rental
property) and want to receive income for life. The donor transfers the asset to
the trust, where it is sold, avoiding capital gains tax. The proceeds are
invested with the donor or other beneficiary receiving payments for life or a
set term. At the end of the trust's life, the remaining principal is gifted to
LCAS.
To set up a Charitable Remainder Trust, please consult your attorney or
estate planner.
Naming LCAS as a
Beneficiary
If you have a life insurance policy that is no longer needed to provide for
dependants, consider making LCAS the beneficiary. This may enable you to make a
significant gift to LCAS without using any of your estate's capital. A further
option is to make LCAS both the beneficiary and owner of a paid-up policy. Doing
so will earn you an immediate tax deduction equal to the policy's cash value.
Contact the policy's issuing agent for instructions.
Some assets, such as IRAs, Keogh Plans, and other qualified retirement plans,
do not pass directly through your will and require you to name a beneficiary.
Consider making LCAS a full or partial beneficiary. Such plans can be excellent
choices for charitable gifting because they are taxed more heavily than other
assets—sometimes greater than 60 percent. However, by making LCAS the
beneficiary, the full value of the account will pass to LCAS to be used to
benefit the animals.
A relatively easy planned giving option is to buy a Certificate of Deposit
(CD) at your local bank and name LCAS as the beneficiary, payable-on-death. The
CD can remain on deposit earning interest until the holder's death, then LCAS
would receive its value. Make sure the CD you buy automatically rolls-over and
maintains the beneficiary designation.
Gifts of
Property/Real Estate
Gifts of appreciated property can be given to LCAS through a donor's will or
living trust. The donor would receive an estate tax charitable deduction for the
full value of the property; however, a qualified appraisal (obtained no earlier
than 60 days before you make the gift) is necessary to substantiate your income
tax deduction.
Making LCAS the Successor Interest of a Contract
Perhaps you're receiving payments from the sale of a business or real estate
or are receiving royalties? You may be able to designate LCAS as the successor
interest to receive any payments that continue after your death.
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Lewis Clark Animal Shelter
