PLANNED GIFTS

BEQUEST  l  LIFE INSURANCE  l  STOCK  l  REAL ESTATE  l  LIFE INCOME  l  OUTRIGHT GIFTS

There are many ways in which a planned gift can also benefit you. Feel free to email or call Board Treasurer Harold Fike, CPA, if you have questions or would like additional information: 301.777.9383.

• BEQUEST
  The simplest way to provide support for Salem and tax savings for yourself is to include a bequest to Salem in your will. Bequests lower your tax obligations by lowering the value of your estate, while supporting a mission that you already know is effective, reputable, and eternal.
   

• LIFE INSURANCE 
  
      ►Current Gift: You may donate a life insurance policy you no longer use, or
       purchase one to donate to Salem.  If you specify Salem as both owner and
       beneficiary, you may then take a tax deduction on the amount you paid for the
       policy.
  
      ►Future Gift: You can designate Salem as the whole or partial beneficiary of any
       life insurance policy by requesting forms from the life insurance company.  You
       will need Salem's tax ID number, which you can get from the Development
       Office.
   

• STOCK AND RELATED PROPERTIES
  
      ►Giving stock after it has appreciated offers you a double tax savings: you avoid
       capital gains tax, and you receive a charitable deduction for the appreciated
       value of the stock. Gifts of appreciated stock are fully deductible up to 30% of
       your adjusted gross income.
  
      ►If your stock has depreciated, you may sell it first and then donate the
       proceeds in cash to Salem, claiming the loss on your tax return PLUS a
       deduction on the donation itself.
  
       Your broker or trust officer can help you with making a gift to Salem.
   

• REAL ESTATE
  A gift of your appreciated home or property could bring you big savings in capital gains taxes in addition to charitable tax deductions. A life estate would allow you to donate your home to Salem yet continue to live in it for your lifetime.
   

• LIFE INCOME GIFTS
  You may want to consider a charitable gift annuity, charitable remainder trust, or charitable lead trust.  Any of these may provide you with substantial tax savings while assuring you a guaranteed income.  Before making a life income gift, you should consult with your tax advisor to be sure it is consistent with your overall estate plan.

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