Immediate Gifts & Gifts in Your Will or Trust

1. Make an immediate contribution: how it works

  • You contribute cash or other assets as a legacy gift to Laguna Beach Seniors and receive an immediate tax deduction..
  • TAX-WISE TIP: When you donate stocks, mutual funds, bonds, or other appreciated assets, you receive a tax deduction for the fair market value of the assets at the time you donate them, regardless of the original cost. You also avoid any capital gains tax on their appreciated value..
  • It’s the simplest way to “give forward” — and you can watch your generosity go to work shaping the future of Laguna Beach Seniors.

2. Make a bequest in your will or trust: how it works

  • You include a bequest provision to Laguna Beach Seniors in your will or revocable trust. You can give a specific amount, a percentage of your estate, or a specific asset such as securities, your home or your retirement fund.
  • Your assets remain in your control during your lifetime.
  • You can modify your bequest if your circumstances change.
  • Bequests to charitable organizations are excluded from estate tax.
  • At your death, your will or trust directs your bequest to Laguna Beach Seniors for the purposes you specify.
  • We can arrange, at no cost, for an estate planning attorney to prepare a simple amendment to your trust or will.

3. Donate retirement plan assets: how it works

  • You name Laguna Beach Seniors as the sole or partial beneficiary of your IRA, 401(k), or other qualified plan, using the beneficiary designation form provided by your financial institution.
  • You continue to make withdrawals from your account during your lifetime. Any residual will then flow to LBS according to your allocation on your beneficiary designation form.
  • You can escape both income AND estate tax levied on the residual in your retirement account.
  • You can designate all or a percentage of your account, and change your beneficiaries, at any time. There is no charge to update your beneficiary form.
  • After age 70 ½, when you are required to take an annual distribution from your retirement accounts, you may direct up to $100,000 annually to charitable organizations like Laguna Beach Seniors, and the amount will not be included in your taxable income.
  • As a nonprofit, Laguna Beach Seniors does not pay tax on these gifts, and can put every dollar of your gift to work.

4. Donate life insurance: how it works

  • If you have a paid-up life insurance policy and no longer need its protection, transferring the ownership to Laguna Beach Seniors can result in tax benefits for you as well as a generous gift to the Endowment.
  • You receive an immediate income tax deduction for the cash value of the policy.
  • Laguna Beach Seniors can elect to cash in the policy now or keep the policy and receive the life benefits later.
  • You have the satisfaction of making a significant gift now to LBS without adversely affecting your cash flow.

To Join the Susi Q Legacy Society, Please Contact Executive Director Nadia Babayi.

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