“I wish I could do more”
That's the sentiment we often hear most often from friends of the American Cancer Fund/American Cancer Association.
Planned Giving is a means of making a charitable gift part of a donor’s overall financial, estate, tax, and philanthropic planning. It maximizes the benefits to both the donor and the charity and often achieves significant tax savings.
Secure Your Legacy
Include The American Cancer Fund In Your Estate Plan
Including the American Cancer Fund (ACF) in your estate plan can leave a meaningful impact for generations. By thoughtfully designating ACF through bequests, charitable gift annuities, or naming us as a beneficiary on your retirement accounts or life insurance policies, you can significantly contribute to a cancer-free world. Your gift goes beyond today by providing critical support for cancer awareness, patient and family assistance, and educational initiatives. This allows your legacy to support ongoing efforts that make a difference in the lives of those affected by cancer.
What is Estate Planning?
Estate planning encompasses a range of strategies for managing assets, providing for loved ones, and supporting causes that matter to you. By carefully considering your options, you can create a lasting legacy and maximize the impact of your contributions.
Here are some key types of estate planning.
Wills
A will is a legal document outlining how your assets should be distributed upon passing. It allows you to name an executor to fulfill your wishes and designate guardians for any children.
Including a charitable bequest in your will, such as leaving a portion of your estate to the American Cancer Fund, can make a meaningful difference.
Life Insurance Policies
Naming the American Cancer Fund as a beneficiary or transferring ownership of a life insurance policy can transform a modest premium payment into a larger gift, providing essential support for cancer awareness and patient services.
Real Estate Gifts
Gifting real estate can take many forms, including outright transfers or retained life estates, where you can continue to use the property during your lifetime.
Real estate gifts and vehicle donations can substantially fund the fight against cancer while offering potential tax advantages.
Beneficiary Designations
Did you know you can name the American Cancer Fund as a beneficiary of your retirement accounts, life insurance policies, or other financial assets?
This type of gift can be a simple yet impactful way to contribute, bypassing the need to revise your will or trust.
Gifts of
Appreciated Assets
Donating appreciated assets, such as stocks, bonds, or mutual funds, can offer significant tax benefits.
You may receive a deduction for the asset's full market value while avoiding capital gains taxes, making it a smart way to maximize your contribution.
Connect with an Estate Planning expert
Estate Planning with the American Cancer Fund
Estate planning involves making important legal, financial, and tax decisions to honor your personal wishes. The American Cancer Fund partners with skilled professionals, including Privetera Wealth Management Associates, to help streamline your estate planning process and maximize the value of your contributions. Their expertise ensures your generosity translates into meaningful and lasting change.
What Do Estate Planners Do?
Estate planners are experts who help individuals organize and manage their assets to ensure their wishes are effectively carried out. They offer valuable legal, financial, and tax advice to create plans that reflect personal and charitable goals.
Partnering for Charitable Giving
The American Cancer Fund (ACF) and its subsidiary, the American Cancer Association (ACA), recognize the essential role that attorneys, estate planners, and financial advisors play in helping supporters make impactful charitable gifts. We are committed to assisting these professionals with accurate and current information to better serve their clients’ philanthropic intentions.
Do More With Your Stocks and Bonds
Did you know that you receive a double tax benefit when you donate appreciated assets, such as stocks, bonds, or mutual funds?
Charitable donations can take many forms, from the loose change you drop into a collection basket to carefully planned donations of significant size with important tax and financial implications. Unfortunately, many people fail to recognize the financial benefits of contributing appreciated property, such as stocks, bonds, or mutual funds.
When you write a check to make a donation to a charity such as the American Cancer Fund, your donation gives you an income tax deduction. But if you made the same donation with appreciated assets, you receive a double tax benefit. You may be wondering, how does it work?
When you donate stocks, bonds, or mutual funds, you receive a tax deduction for the full, current fair market value of the property donated (assuming you have held the property for more than one year).
It does not matter that you may have only paid $6,000 several years ago for a stock that is now worth $18,000. That $18,000 figure will be your charitable donation.
As importantly, the $12,000 in taxable capital gains that you would face if you sold that stock does not apply when you transfer the stock as a contribution to a charity. And because, in most cases, the stocks or bonds or mutual fund shares can be easily transferred to ACF, you can also avoid the commission expense that would normally be due for the sale of the property.
Therefore, you would receive the immediate income tax deduction and avoid the capital gains tax that would be owed if you sold that asset.
For additional support, Contact Privetera Wealth Management Associates
Create A Lasting Legacy
To learn more about how your estate plan can help support our mission or to discuss donating appreciated assets, contact our financial planning partners at Privetera Wealth Management at (732) 449-4448.
Please ask for Anthony Privetera and mention the American Cancer Fund.
