Contact a ministry representative to answer any questions you may have, with no obligation on your part. This information is not intended as legal or tax advice. For such assistance, please consult your attorney or financial advisor.
Stocks & Securities
A gift of appreciated marketable stocks and securities to MAI provides you with significant tax advantages. You avoid capital gains taxes in the year your gift is given while potentially providing a charitable deduction for the fair-market value of your gift. If your securities have depreciated, it may be to your advantage to sell them first, then donate the proceeds to MAI. You may receive a tax deduction for your capital loss, in addition to receiving a charitable deduction for the amount donated.
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Charitable Gift Annuity
A Charitable Gift annuity is a contractual agreement that supports MAI, provides a fixed stream of payments to you and/or a loved one, while offering tax benefits. The annuity can be funded with cash or marketable securities. Your Gift Annuity will make payments to you for life, at a rate determined by your age at the time payments begin. Payments to you may be deferred, allowing for a larger charitable tax deduction and larger annuity benefits. After you or your loved ones passes, MAI receives the remainder of your original gift.
Charitable Remainder Unitrust
Significant features of a Charitable Remainder Unitrust include tax advantages and a stream of future income for you and/or your loved one. Your Unitrust may be funded with cash or appreciated assets such as marketable securities or real estate. The Unitrust, however, is an irrevocable agreement, meaning that the terms cannot change. The charitable contribution you receive from establishing a Unitrust may be claimed in the year it is funded or may be carried over for up to five years if it is too large to use in any one year. Where applicable, taxation of capital gains on the donated assets are deferred until distributed.
Most types of real estate may be given to MAI, provided the property is readily marketable, not encumbered with a mortgage or lien and does not contain any environmental contaminants. By donating appreciated real estate, you gain a significant tax advantage by potentially avoiding capital gains tax. Your charitable contribution deduction may be calculated based on the appraised value of the property.
If the value of your property has decreased, it may be to your advantage to first sell the property and then donate proceeds to MAI. This way, you may potentially deduct any capital loss. We suggest that you consult your financial advisor.
In addition to an outright gift of real estate to MAI, you may also consider other options such as using real estate to establish a Revocable Living Trust, an Irrevocable Deferred Gift, or a Deferred Life Estate Gift.
Wills, Trusts & Beneficiaries
Through your Last Will and Testament, you may designate planned gifts to MAI Including MAI in your will or living trust allows you to make a future gift while maintaining control over your assets during your lifetime. You may designate your gift as a fixed dollar amount, a percentage of the total estate or a percentage of the residual estate.
Naming MAI as a beneficiary on any of your financial accounts is a straightforward way to make a future planned gift – without changing your Last Will. You may contact your bank, broker or retirement account administrator and request Transfer-on-Death (TOD) or Payable-On-Death (POD) forms to designate MAI as a beneficiary.
“Payable on Death” or “Transfer on Death” accounts remain in your ownership and control while you are living. You may make additions or withdrawals from the account and may cancel or change the named beneficiary. At your death, remaining assets would simply be transferred to MAI.
Alternatively, you may consider naming MAI as a primary or contingent beneficiary of your retirement assets or life insurance policy.
Our Legacy Planner will not only allow you to assess your current will but also provide you with a thoughtful framework as you prepare to meet with your attorney or financial advisor.