Why consider a planned or legacy gift to Nashua Center?
- Planned giving helps provide individuals with unique tax advantages and ease the tax burden on loved ones. Effective planning will protect individuals and their families or loved ones from losing hard-earned income or assets to fees and taxes.
- Benefits to YOU when you plan a charitable gift to Nashua Center:
- Potential to reduce taxes, now or later
- It’s easy to set up, can have significant impact, with no expense to you during your lifetime
Makes a difference in the lives of individuals served by Nashua Center’s mission and their families well into the future.
We hope the years of trust you’ve had in Nashua Center may extend beyond this lifetime. Thank you for your consideration of support for the future of the Center. We appreciate all of your generosity and assistance over the years. You have truly made a difference in many deserving peoples’ lives. Planning for the future is smart. You have many options and potential tax benefits when making a planned or legacy gift:
1.) Custom Estate Plan for Business, Investments or Special Needs Child:
If you own a family business, substantial real estate holdings or a large estate, then a custom plan that considers your special property goals and requirements should be created. Another custom plan option is important if you have a child with special needs. A child with special needs may be provided for through a “special needs trust.” A special needs trust will facilitate care of the child providing resources and directions. In some cases, a child may qualify to receive federal or state benefits if that is helpful in providing care for the special needs child.
2.) Will Bequest
- Bequest giving is very easy to do and reduces taxes on your estate’s final tax return
When including Nashua Center in your will, our legal name is: Nashua Center for the Multiply Handicapped, Inc.
Sample bequest language:
I give, devise and bequeath to Nashua Center for the Multiply Handicapped, Inc, operating as Nashua Center the sum of $_________ to be used for any purpose(s) approved by Nashua Center’s Board of Directors. The receipt of the person who professes to be the Executive Director or President of the Board of Directors for the time being of Nashua Center shall be sufficient discharge thereof.
-Make an immediate difference while reducing taxes
As with a cash donation, a donation of securities, stocks or mutual funds results in a tax receipt from Nashua Center. The key difference is with regards to the reduced tax treatment. If you sold your shares, you would be taxed on 50% of the capital gain. By gifting them directly to Nashua Center, there is no tax on the capital gain. The securities must be transferred to Nashua Center. A tax receipt will be issued for the market value on the day of transfer.
4.) Gift of Life Insurance
- Making a gift using Life Insurance often allows individuals to make a larger gift than they might otherwise be able to do.
A gift of life insurance can help reduce your estate’s tax bill, and enable you to increase the size of your gift to charity.
This gift provides a few options:
A.) If you have an existing policy that you no longer need, you can simply name Easter Seals Ontario as the beneficiary. The proceeds of the policy will go directly to Easter Seals without entering into your estate, and will avoid probate. Or,B.) By purchasing a new policy and naming Nashua Center as the owner and beneficiary, a tax receipt will be issued for each premium payment, resulting in immediate tax savings for you. You can also arrange a lump sum payment.
5.) Charitable Gift Annuity
- Receive a guaranteed payment for life
A charitable gift annuity is a financial investment that allows you to make a gift to charity while receiving a guaranteed, continued stream of income for life from that gift. This creates additional after-tax value for you, and a substantial portion of your payment is tax-free.
-Receive immediate tax benefits
A Charitable Remainder Trust can be established by contributing cash, securities, mutual funds or real estate to the trust. Income can be received throughout your lifetime from the trust, and upon your death the “remainder” passes directly to Nashua Center. The capital is safe and a tax receipt for the maximum allowable amount will be issued to you based on current Internal Revenue Standards (IRS).
7.) Gifts of Residual Interest:
-Reduce income tax now and retain the use of the item or property
-Reduce your income tax by donating a gift of property, art, or other assets to Easter Seals Ontario while retaining the use of that item. For example, you might donate a residual interest in your cottage, but continue to use it and enjoy it over your lifetime.
-These gifts of residual interest allow you to reduce income tax now, with no change to living arrangements or lifestyle.
For more information please contact us
+1 (603) 883-6163
Nashua Center highly recommends anyone considering making a Planned Gift to seek professional advice and ensure that your financial goals are considered, your tax situation is reviewed and your planned gift is tailored to your meet your needs and circumstances.
A planned gift involves preparation and planning and should always be considered during your estate and/or financial planning process. If you have interest in speaking with an expert and would like a referral, please call us. We’re happy to help.