Leaving a lasting impact on Boone County through planned giving opens a world of possibilities. By carefully preparing and considering your options, you can create a legacy that transcends generations. Planned giving presents a unique opportunity to make a difference while also reaping numerous benefits along the way. Whether it’s through gifts of equity, life insurance, real estate, personal property, or cash, your generous contribution will play a vital role in shaping the future of our community. Legacy gifts help ensure that your wishes are fulfilled for years to come.
Benefits of Planned Gifts
Delving into planned giving offers more than just the opportunity to leave a lasting legacy—it can also provide significant tax advantages. By strategically planning your gifts, you can maximize the impact of your contribution while minimizing your tax burden. From federal estate taxes to state and inheritance taxes, navigating the tax landscape can be complex. That’s why we always advise consulting with your personal tax advisor to ensure you make the most tax-efficient decisions. Ready to explore tax-wise giving? Dive in here and uncover the benefits.
Common Misconceptions of Planned Giving
It’s a common misconception that planned giving and estate planning are reserved for the ultra-wealthy. In reality, these practices are essential for individuals of all financial backgrounds. Estate planning goes beyond managing vast fortunes—it’s about ensuring that your wishes and personal goals are honored after you’re gone. While contemplating these matters may seem daunting, planning ahead can alleviate stress for your loved ones during an already challenging time. By reducing potential conflicts and confusion, you can give your family clarity and peace of mind, allowing them to focus on supporting one another through the grieving process.
Types of Planned Gifts
When considering your assets, regardless of their monetary value, it’s essential to take inventory of all your accounts. Planned gifts can encompass a wide range of assets, including bank accounts, stocks, mutual funds, retirement accounts, life insurance policies, real estate holdings, donor-advised funds, and even unconventional options like Gifts of Grain. By recognizing the diverse array of resources at your disposal, you can explore various avenues for making a meaningful impact through planned giving.
Here at the Community Foundation of Boone County, we offer a diverse range of funds tailored to meet various philanthropic goals. Our seven fund types cater to different needs and interests, ensuring that donors can support causes close to their hearts in meaningful ways.
- Operational Funds sustain our foundation’s operations
- Community Impact Funds enable flexible grantmaking
- Field of Interest Funds support a specific area of impact
- Agency Funds support nonprofit stability
- Designated Funds benefit a specific organization
- Scholarship Funds empower students
- Donor Advised Funds offer flexibility, allowing you to recommend grants while we handle the logistics.
We’re committed to supporting your philanthropic journey and are here to assist you in exploring unique planning strategies. Reach out to our dedicated Foundation staff today to discover how you can make a lasting difference in Boone County. We’re eager to partner with you in advancing our shared mission and fostering the continued success of our community.