A planned gift to the ACVS Foundation can provide the resources to continue to create extraordinary advances in veterinary surgery and animal health care. There are a variety of philanthropic strategies that you can consider such as leaving a portion of your estate to the ACVS Foundation or naming the ACVS Foundation as a beneficiary of charitable gifts or a life insurance policy. Planned gifts help secure the ACVS Foundation’s future support of education and research.
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Gifts from Wills / Trusts
The most common form of deferred gifts is through a charitable “bequest” within your last will and testament or revocable living trust. You can name the ACVS Foundation as a beneficiary of a specific dollar amount or percentage of your estate, and this amount will not be subject to estate tax.
Gifts from Retirement Plans
Retirement account assets (such as an 401(k) or IRA) are some of the most tax efficient assets to transfer to charity. Depending on your financial circumstances, double taxation in the form of income taxes and estate taxes can significantly deplete retirement assets. By leaving retirement assets to the ACVS Foundation, you can avoid income taxes and reduce any estate taxes. Making a gift of retirement assets is as easy as updating your IRA beneficiary form to include the ACVS Foundation as a beneficiary for a specific percentage of the assets remaining.
Gifts of Life Insurance
Giving a life insurance policy is a way to make a substantial contribution to the ACVS Foundation. There are two options for using life insurance policies as charitable gifts:
Beneficiary Change – Simply name the ACVS Foundation as a beneficiary (part or whole) of your life insurance policy. Upon your passing, your estate receives a charitable deduction and the death benefit passes to the ACVS Foundation tax-free. With this option you may change the beneficiary during your lifetime.
Gift the Policy – You may give ownership of the policy to the ACVS Foundation. You receive an immediate income tax deduction and the death benefits pass tax-free to the ACVS Foundation. You also receive tax deductions for any premium payments you make after gifting the policy.
Charitable Remainder Trusts
A charitable remainder trust is an irrevocable trust set up to provide income to you and your spouse (or other individuals) for life (or a certain time period) and the remaining assets transfer to the ACVS Foundation. In addition to the income stream, your benefits include an immediate income tax deduction when assets are transferred into the trust and reduction of your taxable estate.
Charitable Lead Trusts
A charitable lead trust is an irrevocable trust set up to provide income to a charity during your lifetime (or a period of years) with the remainder passing to your heirs. In addition to providing an income stream to the ACVS Foundation, this strategy allows you to grow the principal for your heirs while potentially saving income and estate taxes.
To learn more about planned giving, you can download the Guide to Making Deferred Gifts to the ACVS Foundation or contact the ACVS Foundation at 301-916-0200, ext. 110.
Because the ACVS Foundation does not provide legal, tax, or financial advice, all donors are encouraged to seek their own trusted counsel when planning and fulfilling their charitable intentions.
The ACVS Foundation is a 501(c)(3) organization established in 1995 to improve the surgical care of all animals.