Planned Giving: Innovative Charitable Options

When you take stock of your financial assets you may be surprised at how much you've accumulated. Once you added your home equity, retirement, band and investment accounts together, it may be a number that surprises you, pleasantly! Making a gift to Phoenix Center at your passing will allow you to leave an eternal legacy and even reduce your taxes! Our desire is for you to discover the joy of giving to those who need your help far into the future.

Retirement Accounts, Life Insurance & Annuities

Do you know who you've named as your primary beneficiary on your IRA or 401k? How about your contingent (secondary) beneficiary? You should double check!

  • Retirement accountsare tax-deferred; you don't pay the tyaxes until you withdraw the money.
  • Annuitieswork in a similar fashion.
  • Life Insurance is income tax free.

All of these may also be subject to estate taxes if your estate is large enough at your death. None of these assets flow through your Will or Living Trust, they go directly to your beneficiary.

Please consider naming us, as your primary or contingent (secondary) beneficiary on your retirement accounts, life insurance (even the group life insurance you get at work) and any annuities you may have. By namingPhoenix Center as your beneficiary, you control and spend it through your lifetime. You can even name several beneficiaries by stating a percentage amount. because these accounts each have separate beneficiary forms, you will need to use the form provided by that institution, many of which allow you to make these adjustments on-line, or through you HR Department. When you pass away, we'll receive the amount you've specified completely TAX FREE!

Here's how:

Primary Beneficiary:    Phoenix Center (__%)

                                     or

Contingent Beneficiary:   Phoenix Center (__%)

And your gift will help our mission for many years to come!

Wills and Living Trusts

Whether you use an attorney or a computer-generated service like Legal Zoom to prepare your Will of Living Trust, but naming Phoenix Center, your gift of any amount or percentage helps support our mission far into the future.

Charitable gifts must be made from your estate or living trust with specific language. Here is the suggested bequest language:

"I give and bequeath to Phoenix Center ($________or________%)"

Gifts of Stock

You can also give stocks directly. Your financial advisor can help you with this, and you can avoid paying unnecessary taxes too.

Bank and Investment Accounts

You can also transfer your bank, credit union and regular (Non-IRA) accounts to us. You can do this by putting a POD (Payable on Death) or TOD (Transfer on Death) designation on those accounts to Phoenix Center. Ask your financial institution for the assistance with this. They will be happy to help, and we'll be happy for the help!

Gifts of Real Estate

With a gift of real estate to Phoenix Center, you can further our mission and lower taxes too! You can even donate your house to us now, live there the rest of your live and receive a large income tax deduction. Before you begin the process of donating real estate, please contact us to make sure we will be able to accept your generous gift.

Gift Annuities and Charitable Trusts

A Charitable Gift Annuity is a way to make a donation to Phoenix Centerat your death, receive a lifetime of income and get an income tax deduction. There are also special trusts called a Charitable Remainder Trust which works much like a Gift Annuity but is more suitable for larger gifts.

There are other creative options available. Please let us know if you have any questions. Thank you in advance for your support!

*This information is not intended to be used as legal or tax advice. Contact your own appropriate advisors to discuss the benefits and effects of any particular charitable & tax strategy.