What is gift planning?
Gift planning or planned giving encompasses a variety of philanthropic strategies that help you provide for a charity while also advancing your own financial and personal objectives.
How do I benefit from a planned gift?
Planned gifts can yield benefits such as:
- Ability to make a significant gift to CARA in line with your objectives
- Savings on income and capital gains taxes
- Savings on gift and estate taxes
What can I give?
Donors frequently think their only option is to make an outright gift of cash to their charity of choice. While this is a positive way to make your charitable gifts, there are a number of other ways for you to donate to charities. Planning your gifts is a way for you to take advantage of the tax, financial and estate planning benefits of philanthropy.
A planned gift can be made with almost anything: cash, stocks, bonds, mutual funds, vehicles, real estate—even property such as artwork and royalties. Please contact us if you have questions about a possible donation.
How does CARA benefit from a planned gift?
Your gift can make a significant impact on CARA now and/or in the future and you can choose to direct your gift to aid a specific area of CARA. We can assist you with the designation and legal language for the area(s) that you would like to support.
How do I name CARA in my will and/or living trust?
To name CARA - Community Animal Rescue and Adoption, Inc. in your will, you can include the following language:
I give (___ dollars/ __ percentage or the entire residue of my estate) to CARA - Community Animal Rescue and Adoption, Inc., a Mississippi charitable organization, located in Jackson, Mississippi. In the event said charitable beneficiary is not designated by its correct name, or if said beneficiary is not incorporated, the Personal Representative is authorized to pay said devise to the governing body of the charitable organization which, in the Personal Representative's discretion, is intended as beneficiary of such devise, and the receipt of the officers of such charitable organization shall be a complete discharge to the Personal Representative for such payment.
To make a specific bequest, please contact Lea Ann Craig, CARA Executive Director, for further details and language.
How can I name CARA as a beneficiary of my retirement plan?
Naming CARA as beneficiary of your retirement plan or IRA (or a portion of it) can possibly be helpful in reducing estate and income taxes on the plan assets.
Of course, before you take any actions, you should discuss your options with a qualified financial or tax advisor.