Liberty House has created a legacy program to accommodate those who would like to make a lasting gift. Legacy gifts go toward the Liberty House Endowment Fund. There are several different ways you could become a member of the Legacy Society and different types of gifts have different tax and estate planning implications. For more information about how to join the Legacy Society please call Kelley Parosa at 503-540-0288 ext. 134 or email her by clicking HERE.
Legacy Gifts can include:
- Gifts of Cash: Cash Contributions are deductible as an itemized deduction in the year you make the donation, up to a total of 50% of your adjusted gross income. Excess charitable deductions can be carried forward for up to five additional years.
- Gifts of Stock, Securities, Mutual Funds and IRAs: Making a gift of securities offers a number of valuable financial benefits;
- You can donate appreciated stocks, bond, or mutual funds.
- The total value of the stock upon transfer is tax-deductible.
- There is no obligation to pay any capital gains taxes of the appreciation.
- Life Insurance: You can contribute a life insurance policy to Liberty House by naming us as either the owner of the policy or simply as the beneficiary. If you name us as owner and beneficiary, you will be entitled to an income tax deduction limited to the lower of the value of the policy or your cost basis in the contract. In addition, if you continue to pay premiums on a policy that we own, you can deduct the premium payments.
- Make a bequest in your estate plan: Designate Liberty House as a beneficiary in your will or trust.
- Make a bequest in your retirement plan: Designate Liberty House as a beneficiary of your retirement plan. Charities like Liberty House do not pay federal or state income tax. Liberty House will receive 100% of the gift from your tax deferred qualified retirement plan. Individual beneficiaries receive a much smaller share of retirement benefits after state and federal income taxes.
- Consider Charitable Tax Planning Techniques such as Charitable Remainder Trusts, Charitable Lead Trusts, and Gift Annuities: If you seek to provide a stream of income or reduce future estate taxes, consider one of many charitable tax planning techniques. Consult your estate attorney for more information.
For more information call Kelley Parosa at 503-540-0288 ext. 134 or email her by clicking HERE. It is recommended that you consult with your financial planner or estate attorney to discuss your planned giving decisions before making a significant Legacy Gift.
|Legal Name:||Liberty House|
|Address:||2685 4th St NE, Salem, OR 97301|