Making a legacy gift to the Cashiers-Highlands Humane Society 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.
David Stroud, Executive Director
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:
- Specific Bequest: Directs a specific dollar gift or property to pass to CHHS
- Percentage Bequest: Designates a percentage of the total value of the estate as a gift to CHHS
- Residual Bequest: Directs that CHHS receive the remainder of the estate, or a portion of the remainder, after all expenses and other bequests have been made.
A bequest to CHHS is not subject to federal or estate taxes, and there's no limit on the amount of the deduction. Most importantly, your bequest to CHHS will help ensure the organization's ability to provide care and protection for animals in future years.
Naming CHHS as a Beneficiary
If you have a life insurance policy that is no longer needed to provide for dependents, consider making CHHS the beneficiary. This may enable you to make a significant gift to CHHS without using any of your estate's capital. A further option is to make CHHS 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 CHHS 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 CHHS the beneficiary, the full value of the account will pass to CHHS to be used to benefit the animals.