FAQs about gift planning
What are the benefits of gift planning?
Tax benefits are a clear advantage of gift planning. Beyond that, gift planning can also help you reinforce your values, invite your family to participate in your charitable giving, secure income for yourself and loved ones in retirement, and much more.
How can I build a plan to maximize my impact at Bethany over time while minimizing taxes?
Organizing your giving is a great way to make sure you’re being a wise steward and making an impact. We can help you think through your approach to short, medium, and long-term giving.
How can I involve my family in my giving?
Involving your family in your giving is a great way to ensure your values are passed on to the next generation. Setting up a donor-advised fund or another structured giving approach is a great way to start. We can help you build a gift plan that will bring your family into your giving with a gift planning conversation.
How can I secure income in retirement through giving?
Setting up a charitable gift annuity (CGA) is a great way to ensure consistent, timely income for yourself and a loved one, all while supporting Bethany Christian Services. Starting in 2023, you can use your retirement accounts to fund your charitable gift annuity.
What can I do with a will?
With a valid will or trust, you can choose who gets your property, name guardians for your children, provide a home for your pets, and more. It takes only 20 minutes, and you can update your documents later if your plans change.
Your will is a great way to pass on your assets to loved ones and the causes that are important to you.
What is a donor-advised fund?
A donor-advised fund (DAF) is a type of charitable giving account a donor can open with investment advisors, community foundations, or the National Christian Foundation. The funds are invested by the fund manager and the donor can make gifts from the DAF over time.
How can I give from a retirement account?
Donors age 70.5+ can make gifts from an individual retirement account (IRA) through a gift called a qualified charitable distribution (QCD). These gifts can also help you reduce income taxes because it’s considered part of your required minimum distribution.
The gift planning conversation
A gift planning conversation can help you bring your family goals, financial goals, and charitable goals closer together. We can help you explore tax benefits, understand how to deepen your family’s engagement in your giving, determine how to structure your short-, medium-, and long-term giving, and much more.