Your values can live on in the legacy you leave to others…
Gift planning is finding the right path to make charitable gifts now or after your lifetime to organizations that have meaning to you. It takes a very special kind of person to make plans that benefit others both during and beyond their lifetime. The Habitat for Humanity of Bucks County Dream Builders Society recognizes our forward-thinking friends who have done just that. We welcome new Dream Builders at any time – there are just two simple requirements for membership. First, make arrangements to benefit Habitat for Humanity of Bucks County after your lifetime. Second, let us know about your plans. Habitat Bucks relies on donations to serve families in our communities. Every gift, no matter the size, is appreciated.
“As a member of the Habitat Bucks Board of Directors, I believe in this mission. I am happy to give my time and energy now to help bring affordable housing to our region, but I wanted to do more. Designating Habitat Bucks as one of the beneficiaries of my retirement funds was an easy change to make, and did not require an attorney. It makes me feel great to know that Habitat Bucks will benefit from my estate, long after I’m gone. That’s a legacy I’m proud of.”
Neil McKeon, Habitat for Humanity of Bucks County Board Member (pictured at right on the build site in Bristol)
While we cannot provide tax or legal advice, we do have access to planned giving experts who can provide information. We are happy to help you navigate your choices so you can better prepare for a visit to your professional advisors. For more information, contact Candace Clarke at 215.822.2812, ext. 316.
Habitat for Humanity of Bucks County is a tax-exempt 501(c)3 organization. Federal EIN: 23-2607106
Planned giving may offer you opportunities to redirect your taxes to benefit your family, your community, and the mission of Habitat for Humanity of Bucks County. It is a misconception that gift planning is only for the wealthy. Every gift is appreciated. Help us continue to bring homes and hope to low-income families in Bucks County. Thank you!
Consulting an estate planning attorney/ tax advisor is a smart investment that can save you and your family money and heartache in the long run.
A gift in your will can be a specific dollar amount, a percentage of your estate, or all or part of the residue of your estate (what’s left after your loved ones have been provided for). A bequest enables us to build stable, safe and affordable homes and may help to reduce your estate taxes.
When making or updating your will, an estate-planning attorney can assist you in adding one of the following paragraphs to your will:
“I hereby give and bequeath $_________ to Habitat for Humanity of Bucks County to be used (for its general purposes) (for[specific purpose]).”
“I hereby give, devise and bequeath (the residue) (__% of the residue) of my estate to Habitat for Humanity of Bucks County to be used (for its general purposes) (for[specific purpose]).”
Our legal name is Habitat for Humanity of Bucks County. If you do not include “of Bucks County,” your gift will be sent to Habitat for Humanity International.
Beneficiary Designations/Life Insurance
Many families own life insurance policies that have outlived their original purpose, and which can aggravate estate taxes if not treated with care. These old policies can be used to create a new life for a Habitat family in a clean, comfortable home. Also, new life insurance policies can sometimes be used to make giving a larger gift to Habitat more convenient and affordable. Continue supporting our work and mission even after your lifetime by naming Habitat Bucks as a beneficiary of your life insurance or insurance annuity assets. You can give a gift of all or a portion of the proceeds of your plan. This allows you to support our work as well as take care of your loved ones.
IRA & Retirement Plans
Most retirement plans are income tax-deferred, meaning that income tax is not paid until funds are distributed to you in life, or upon your death. This may be costly for your loved ones. On the other hand, naming a charity, such as Habitat for Humanity of Bucks County as the beneficiary of retirement assets upon death generates no income taxes. Consult an estate planning attorney to allocate funds for Habitat Bucks from your retirement plan.
Charitable Gift Annuities
You’d like to help, but need the income. Or you may have highly-appreciated stock that pays a low dividend, but you don’t want to trigger the capital gain. Whether funded with cash or stock, a gift annuity will provide a handsome cash flow that may be partly tax-free. You’ll also get a partial tax deduction now. If you transfer your stock to the gift annuity, you can significantly reduce the capital gain, and spread the rest of it out over a number of years. The best part is, after you’re gone, what’s left over will help build and repair homes for Habitat families.
Minimum IRA distribution at age 70 ½
Are you required to take a mandatory distribution from our IRA account each year that perhaps you don’t really need, and burdened by the associated taxes If so, you can change the world for a deserving family, and perhaps ease your tax pain at the same time. You may be able to request a direct rollover of your distribution directly to Habitat for Humanity of Bucks County. As an alternative, you could also write a check to Habitat for Humanity of Bucks County for the same amount as your required IRA distribution, and if you itemize, you may be able to eliminate some or all of our tax liability for the distribution.