Giving by Age – 70+

PLANNED & MAJOR GIFTS

GIVING BY AGE - 70+

The best gift options for you::

Outright gift of appreciated securities

Making a gift of securities or mutual funds to us offers you the chance to support our work while realizing important benefits for yourself. When you donate appreciated securities or mutual funds that you have held more than one year, you can reduce or even eliminate federal capital gains taxes on the transfer. You are also entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer. Securities are most often used to support our work in the form of:

An outright gift. When you donate securities to Meals on Wheels, you receive the same income tax savings that you would if you wrote us a check, but with the added benefit of eliminating capital gains taxes on the transfer, which can be as high as 20 percent. Making a gift of securities to support our mission is as easy as instructing your broker to transfer the shares.

A transfer on death (TOD) account. By placing a TOD designation on your brokerage or investment account, that account will be paid over to one or more persons or charities after your lifetime. It is not necessary for the TOD designation to transfer all of the account solely to charity—you can designate a certain percentage of the account. With a TOD account, the beneficiary you name has no rights to the funds until after your lifetime. Until that time, you are free to use the money in the brokerage account, to change the beneficiary or to close the account.

A gift in your will or living trust. A gift of securities through your will or living trust allows you the flexibility to change your mind at any time. You can continue to receive dividends and participate in shareholder votes, and the securities are still yours if you need them for other expenses. It is as simple as including one sentence in your will, designating the securities to the Meals on Wheels Foundation of Western New York.

A donor advised fund. When you contribute to a donor advised fund with appreciated securities, you will receive a federal income tax charitable deduction for the fair market value of the asset and eliminate capital gains tax. Because of our nonprofit status, Meals on Wheels does not pay capital gain tax when we sell the gifted securities.

An endowed gift. Create an endowment to ensure that your support of Meals on Wheels will last forever.

A charitable lead trust. Rapidly appreciating assets such as stocks are a great way to fund a charitable lead trust. The assets transferred to the lead trust are frozen in value for transfer-tax purposes at the time of funding. At the end of the trust's term, all appreciation that takes place in the trust will pass tax-free to your heirs.

 

 

Beneficiary designations

One of the simplest and easiest ways to help the Meals on Wheels Foundation of Western New York after your lifetime is through a beneficiary designation. Name Meals on Wheels as a beneficiary to receive assets like your retirement plans and life insurance policies. This option is flexible, as you are able to review and adjust beneficiary designations anytime you want.

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