Careful estate and investment planning can make a tremendous difference in your financial security today, and the good you can do for Haven Humane Society's future. An estate or investment gift to Haven ensures future protection for animals by supporting humane education, enforcement of animal cruelty laws, pet therapy programs, maintenance of a quality shelter that provides proper animal care and adoptions, and the philosophy that every animal has the right to life and love. At the same time, you will have the satisfaction of having supporting an organization whose concerns and ideals you share.
The plans highlighted below can provide you with significant tax advantages, an immediate income for life, income for your loved ones after your death and the knowledge that you are making a valuable investment in Haven Humane Society's programs. Please note that the legal and tax aspects presented below are neither complete nor necessarily up-to-date. Therefore, you are advised to consult your attorney or tax advisor for current, authoritative information and for planning that is best suited to your needs.
Bequests by Will
In the absence of a Will, the laws of your state will determine how your assets are distributed. Your estate will often pay the maximum in estate taxes, leaving the least possible amount for heirs and the charitable organizations you wish to remember. For this reason you need to have a Will professionally prepared by your attorney. Should you wish to do so, you may include a bequest in your Will to the Haven Humane Society.
Life Insurance Gift
Gifting a life insurance policy to Haven Humane Society can result in an income deduction at the time of your gift. If you continue to pay the premiums on the policy, those may also be deducted as a charitable contribution.
If you are among our donors who are able to make relatively substantial gifts, in the four-figure range or higher, we have exciting news for you. We’ve partnered with the Legacy Life program to help donors like you substantially increase the size of your gifts to us – without increasing the amount of your donation! It’s simple: You take out a life insurance policy through Legacy Life and name Haven Humane as the policy owner and beneficiary. We then use your gift to pay the premiums on the life insurance policy, you receive the same tax advantages as a cash gift, and your generosity helps assure the long-term viability of our mission to give animals a safe haven and transition to happy lives in loving homes. For more information, CLICK HERE.
The Annuity Trust
The Annuity Trust allows you to transfer cash, securities or other property into an irrevocable trust with a fixed-dollar amount of your gift paid to you as long as you live. If you prefer, you can also direct that same fixed income to be paid to any of your surviving beneficiaries for as long as they live and the remaining principal will be used by Haven Humane Society.
A Unitrust provides a fixed percentage of the trust's fair market value to be paid to you and your heirs, rather than a fixed dollar return, as is the case in the Annuity Trust.
The Short-Term Trust
Payments are made to Haven Humane Society each year and, at the end of a predetermined number of years, the property reverts to the owner.
The Pooled Income Fund
Your investment is "pooled" with those of other individuals into a large investment fund. The income earned by the Pooled Fund is distributed to your beneficiaries proportionately to your original investment and, at the death of your last beneficiary, the remainder may be left to the charitable organization(s) of your choice.
Retained Life Estates
You may wish to eventually will your home to Haven Humane Society, but if you make such a gift while you are still alive, you can receive income tax savings now. Under this plan, you continue to live in your home and, if you prefer, make a provision for your beneficiaries to live there also. Haven Humane Society becomes the owner only after your death (and the death of any beneficiaries you may specify), and your home does not pass through probate.
The Revocable Trust
This type of trust allows you to take back your gift at some future point in time. You own the trust until your death, you can receive an income for life, and the funds remaining in the trust at your death will be considered a charitable contribution for estate tax purposes.
These are just a few of the plans you may utilize for your heirs and to provide financial assistance to Haven Human Society. You will want to discuss various options with your attorney or personal financial advisor to determine which is best suited for you. If you would like to know more about the advantages of planned giving options presented above, please call our Director of Development at (530) 241-5262.