What is Planned or Legacy Giving?
There are many ways to support the Food Bank of Contra Costa and Solano. Gifts of cash or assets and donations of food or needed items all are very helpful. A growing number of our friends are providing support through legacy giving.
Legacy Giving is a process of combining your compassion and generosity with financial, tax, and estate planning goals to get maximum benefit for you and the Food Bank.
Legacy gifts often come from assets rather than income. They can be either outright or deferred.
Legacy gifts include:
- Wills or Bequests
- Charitable Gift Annuities
- Charitable Remainder Trusts
- Qualified (tax-deferred) Plans
- Real estate
- Life insurance
- Appreciated Stocks or Mutual Funds
HOW YOU CAN MAKE A LEGACY GIFT
A trusted legal or financial advisor can help you develop a plan for making charitable gifts that complement your current investment and estate plans.
They can help you evaluate your specific situation and determine:
- The best type of gift for you
- The appropriate gift amount
- The tax implications of your gift
- How to best structure the gift to benefit both you and the Food Bank
Your professional advisor can put together all of the necessary financial and tax-related paperwork to set up your planned gift.
Our legacy giving staff will be happy to work with you and your advisors, with no obligation, to arrange or complete the best gift arrangements for your specific situation.
*It is recommended that you consult with your tax or legal advisor prior to making a legacy gift.
BENEFITS OF LEGACY GIVING
Legacy giving is a process designed to work with tax laws and financial planning strategies. In many ways the ultimate benefit of any legacy gift is the good it does providing food and services to those in need. It is a gift that establishes a legacy of caring.
Creating a legacy is wonderful, but there are also a number of tangible benefits that come from making these gifts. Here are a few of the advantages that legacy gifts can bring. Our staff will be glad to help you explore which of these benefits might work for you. If you do not have a financial or legal advisor the Food Bank staff is happy to provide you with a list of advisors in the area that are familiar with legacy giving.
Benefits from making a legacy gift can include:
- A charitable income tax deduction (with carry-over provisions)
- Avoidance or reduction of capital gains taxes
- Lifetime income (including some tax-free) from your gift
- Estate tax reduction
- Leaving a gift to both your heirs and the Food Bank
How can we assist you?
There is never an obligation for requesting planned giving information. All of your information is maintained in complete confidence. We never release, share, sell or rent names, addresses, etc.