Legacy Society

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Legacy Society

A planned gift to JTF is a gift that lasts beyond a lifetime and makes an unforgettable difference to many students lives.

Any planned gift to JTF qualifies you to be a member of the JTF Legacy Society. As a member (when member is clicked on, it takes them to Legacy Society Member list on Supporters/Recognition page), you will receive recognition on:

  • JTF Website as a Legacy member
  • JTF Newsletter
  • JTF Annual report
  • Broadcasted on our Social media circuits
  • Given a leaf plaque that will be placed on our legacy family tree
  • A Koa Legacy Tree will be planted in your honor (www.legacytrees.com)

Your gift also provides you:

  • Full tax advantages of a qualified nonprofit organization
  • Confidence your invested funds will last beyond your lifetime
  • And the greatest gift of all is changing a child or many children’s lives forever

There are several types of planned gifts that an individual can make: (if they click on a type of planned gift below, it should scroll them down to that description)

  • Bequests Bequest *
  • Beneficiary Designations *
  • Charitable Gift Annuity
  • Charitable Remainder Trust
  • Charitable Lead Trust
  • Life Estate Reserved (Gift of Remainder)

* The most common gifts are bequests and beneficiary designations.


BEQUESTS

Many people want to give to charity but are unable to donate property, cash, stocks or other assets during their lifetime. For example, you may have property that will be needed during life to cover living expenses or rising health care costs. With a bequest, you are able to donate this property through your estate.

The Benefits:

  1. Gift to Charity: The charity receives cash or property.
  2. Tax Deduction: The amount given to charity is not subject to federal estate tax.
  3. Flexible: Donors are able to use and control property during their lifetime.

Types and Wording in the Will or Trust: “How to remember our organization in your estate plan.”

Four of the most popular forms bequests can take are:

  1. A fixed amount of money or a designated property:
    “I give to (legal name and tax identification number), located in (City), (State), $_________(Or describe the real or personal property, including exact location.)
  2. A percentage of the estate:
    “I give to (legal name and tax identification number), located in (City), (State), ________% of my estate."
  3. A remainder bequest:
    "I give all the residual of my estate, including real and personal property, to (legal name and tax identification number), located in (City), (State).
  4. A double-purpose bequest.
    You can provide a relative or friend with income for life through a special gift to our organization. You can do this by establishing a charitable trust through your Will. Upon your death, the trust pays income to the person you designate.

After that person's death, whatever remains in the trust passes to our organization. Call our organization at (phone) for further information.

If you wish to have your bequest applied to a specific program, simply add "...for the benefit of (name of program)" to the language suggested above.

Consult an attorney when preparing legal documents.


BENEFICIARY DESIGNATIONS

An individual can transfer assets to JTF without legal expense. You may have bank investments, retirement, insurance, stock, or mutual-fund accounts that you can use to accomplish your charitable goals and can be transferred by designating JTF as the Beneficiary.

By completing a POD (Pay on Death) or TOD (Transfer on Death) form or also called beneficiary designation forms, it tells the account custodian what to do with the account after your passing.

This "Designate and Donate" gift planning has no a negative impact on cash flow or lifestyle. It is simple and savvy. Ask your bank for a POD form. Ask your retirement plan, investment account or insurance company for a TOD form. It takes less than five minutes of your time to designate and donate with any of these assets.

The Benefits:

  • You can make a gift that costs you nothing during your lifetime.
  • You can make a gift and leave your cash flow and current financial planning unchanged.
  • You can make a gift with appreciated assets and save taxes.


CHARITABLE REMAINDER TRUST-CRT

A person may desire to change appreciated property that produces little or no income into a productive asset without paying capital gains tax on the sale of the property. You would contribute appreciated property to a Charitable Remainder Trust that will sell the property tax free and make payments for the donor’s lifetime or a specified term of years.

The Benefits:

  1. Bypass Gain: The trust sells property tax free.
  2. Increased Income: The trust pays a percentage of its value to the trust beneficiary.
  3. Tax Deduction: The donor receives a current federal income tax deduction.

Consult your financial advisor or contact the JTF Office for more information at 760-230-2344.


FAMILY LEAD TRUST

A person may want to make a gift to charity for a period of time, then transfers an asset to family (and pays minimal gift or estate taxes). You would contributes property to a trust that will make distributions to charity for a number of years and ultimately distribute the property to the donor’s family.

The Benefits:

  1. Appreciation to Family: A donor gives property to a Lead Trust and that property plus growth passes to his or her family with no additional tax.
  2. Tax Deduction: A donor receives a current federal gift or estate tax deduction for the present value of the payments that will go to charity.

Consult your financial advisor or contact the JTF Office for more information at 760-230-2344.


LIFE ESTATE RESERVED

A person may desire to leave his or her house or farm to charity at death but would like a current tax benefit. This just requires that you deed a home or farm to charity but keep the right to use the home or farm for their remaining lifetime.

The Benefits:

  1. Tax Deduction: The donor receives a current federal income tax deduction for the present value of the remainder interest in the home or farm.
  2. Preserves Lifetime Use: The donor is able to use and control the home or farm while alive.

Consult your financial advisor or contact the JTF Office for more information at 760-230-2344.


A BARGAIN SALE

Many people desire to sell their property and also make a gift to charity as an asset to charity and receives less than fair market value in return. If JTF is the charity, they will agree to accept your property subject to the mortgage.

The Benefits:

  1. Immediate Benefits: The donor gets a cash payment or debt relief.
  2. Bypass Gain: The donor avoids gain on the part of the property that is a gift.
  3. Tax Deduction: The donor receives a current federal income tax deduction for the part of the property given to charity.

Consult your financial advisor or contact the JTF Office for more information at 760-230-2344.


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