A planned gift is any gift, made in lifetime or at death, as part of a donor’s overall financial and/or estate planning. Planned gifts can be made in cash, real estate, stocks, bonds, personal property or life insurance.

Bequests by Will
One of the simplest planned gifts is a bequest through your will in which you designate specific amount or percentage of your estate to First Choice Social Services. A bequest also can reduce the amount of your taxable estate, which may increase the actual amount available to loved ones.

Life Insurance
Contributions of life insurance can provide a substantial gift, and the value of an ordinary policy at the time of the gift is tax deductible.

Endowment
An endowment is a perpetual gift that can be designated for First Choice Social Services. The original gift remains intact, and the income is used to benefit our organization. An endowment can be established in memory of a loved one,or a donation can be added to an existing fund that will contribute to your local community indefinitely.

To begin planning, please work with your attorney or accountant to explain the many gift opportunities available to you and the financial advantages of each.

What are the tax benefits of planned gifts?
• Donors can contribute appreciated property, like securities or real estate, receive a charitable deduction for the full market value of the asset, and pay no capital gains tax on the transfer.
• Donors who establish a life-income gift receive a tax deduction for the full, fair market value of the assets contributed, minus the present value of the income interest retained; if they fund their gift with appreciated property they pay no upfront capital gains tax on the transfer.
• Gifts payable to charity upon the donor’s death, like a bequest or a beneficiary designation in a life insurance policy or retirement account, do not generate a lifetime income tax deduction for the donor, but they are exempt from estate tax.

“Family is the reason I choose to make better choices”
…….First Choice Social Services client