Gifts that make a transformational difference in the lives that follow.
Thank you for your interest in making a Legacy Gift to Friends House. Including Friends House in your estate plans ensures the housing, nutrition and healthcare services that we provide for older adults now, we will continue to do and do even better in the future.
A Legacy Gift is a gift that anyone can make.
A gift through your will or trust is the easiest and the most common type of gift. Click here for sample bequest language.
There are many options for making a Legacy Gift to Friends House that provide tax benefits to donors. Donated funds provide financial stability for Friends House, including housing and fee subsidies for those in need, funding for capital development. Some Legacy Gifts provide donors with the opportunity to derive income during their lifetime and to have income tax advantages, too.
Let us know your plans.
Please contact us at (707) 538-0152 if you have made or intend to make a Legacy Gift to Friends House or if you would like more information potential benefits of Legacy Giving.
If you are planning to designate a gift for a particular use or if you are bequeathing real or personal property, be sure to advise Friends House of your intent. The Friends Association of Services for the Elderly Board of Directors must approve all such gifts to Friends House.
There are a variety of ways to make a Legacy Gift to Friends House:
This is the designation of a gift to Friends House in a last will and testament. Bequests qualify for the unlimited estate tax charitable deduction. Click here for sample bequest language.
Note: Often we don’t know about Legacy Gifts until it’s too late to thank the giver. If you have included Friends House in your estate plan, please contact us at (707) 538-0152, so we can thank you privately or publicly, as you prefer.
Charitable Gift Annuity
A charitable gift annuity provides a fixed lifetime income payment to the donor(s) or to one or two life income beneficiaries that the donor(s) may designate. In addition, the donor(s) will receive Federal income tax benefits. Charitable annuity rates are tied directly to the age of the annuitants at the time the gift is made. The older the annuitant is at the time of the gift, the higher the rate. Upon the death of the annuitant, or the last income beneficiary, the balance in the account will be given to Friends House. Click here for more about the Friends House charitable gift annuity program.
Deferred Payment Gift Annuity
A deferred charitable gift annuity provides for a fixed lifetime income in the same way as an immediate gift annuity except that the donor defers the beginning of payments for a stated number of years. The donor can receive an immediate income tax deduction, while deferring the income payments until his/her retirement. Deferred annuities entitle the donor to a higher rate annuity payment. In the interim period, the gift accumulates under professional investment management.
Charitable Remainder Trusts
For gifts of $250,000 or more, a charitable remainder trust could be considered. Charitable remainder trusts provide a fixed or variable annual income depending on the type of trust. The payout rate is determined jointly by the donor and the administrator of the trust. Upon the death of the last income beneficiary, the balance of the trust’s assets will be given to Friends House.
Pooled Income Fund
Contributions are pooled with those of other donors in a common fund and investment income is distributed proportionally to all. It provides a charitable tax deduction the year the gift is made.
Charitable Lead Trust
This is especially recommended for donors with large estates who are interested in giving to Friends House and in transferring assets to family for little or no gift tax.
This is a gift of a home, farm or vacation property to Friends House. The donor maintains full use of the property for his or her lifetime and receives an income tax deduction the year the gift is made.
This type of gift is appropriate for a donor who has an insurance policy they wish to donate. The tax deduction is determined by the policy’s value and whether the donor must still pay the premiums.
We’re happy to meet with you and discuss Legacy Giving options including potential tax benefits and work with you to put together a plan that best meets your needs. (707) 538-0152
Directory of Professional Service Providers
The Community Foundation Sonoma County has put together a resource guide of local professional advisors. The Directory of Estate Planning Professional Service Providers includes specialists in estate planning, tax law and other areas of interest to the philanthropic community. Each member listed agrees to provide a free, one-hour consultation to prospective clients interested in charitable giving.
We encourage interested parties to contact professionals directly and indicate their referral from this Directory. We strongly urge individuals to conduct their own review of the professionals listed before retaining them for services.
Please note: This Directory is not a complete listing of all advisors with the requisite qualifications or competency. Omission from this directory does not imply a negative assessment; inclusion does not constitute a recommendation.