Other Ways to Give

Appreciated Stock

If you own stock, mutual funds or other securities that have increased in value, and you have owned for more than one year, they can be used to make charitable gifts to Share the Magic Foundation. You may still claim a deduction for their full market value, not just the amount you paid, and you do not have to pay capital gains tax that would be owed if you sold those securities and donated the proceeds. This opportunity is available to everyone, whether or not they itemize their deductions. Check with your advisors for additional information on the financial benefits of gifts of appreciated stock.

Other Ways to Give

Legacy Giving

 Giving through your will: This is a convenient way to make a gift in the future. You may wish to make a gift of a specific amount, a percentage of your estate or all or part of what remains after you have remembered family and friends. These gifts can often be arranged with the addition of a simple codicil (amendment) to your existing will. Giving through living trusts: Many estates are distributed primarily through a trust created during an individual’s lifetime (often referred to as a “Living Trust”). Charitable gifts may be included in living trusts when the trusts are created, or can be added later with an amendment to the trust. Giving the proceeds of a life insurance policy: A life insurance policy no longer needed for its original purpose, can also be a practical way to make a future gift. You may name one or more charitable interests to receive all or a portion of a life insurance policy’s value at death. Gifts of retirement plan remainders: This type of charitable gift is becoming more popular as people accumulate a significant portion of their assets in a tax-favored retirement plan, and because individuals who inherit these plans typically must pay income tax when they withdraw the funds. All suggested giving methods should be discussed with your estate and tax advisors so that they can provide you with advice appropriate for your circumstances under the laws in effect at the time of your gift.