Planned giving to CASA of the Mid-Shore is a powerful way to create lasting change for children in our communities while investing in the future of our organization. By making a planned gift, you can leave a legacy of hope for vulnerable children in Talbot, Dorchester, Queen Anne’s, and Kent Counties. In addition to transforming lives, planned giving may also provide significant income tax and estate tax benefits.
You can name CASA of the Mid-Shore as a beneficiary in your will or trust agreement. Your bequest might be an outright gift of cash, a percentage of your estate, mutual funds, stocks, real estate, or personal property. The advantage of leaving a gift to CASA of the Mid-Shore in your estate planning documents is that it allows you to make a contribution without sacrificing your resources during your lifetime and may reduce or eliminate taxes imposed on your estate.
If you are considering making a gift by bequest, please meet with your attorney to discuss the ramifications and, if appropriate, update your will.
If you would like to create a legacy for children but do not wish to do so in your will, you can name CASA of the Mid-Shore as beneficiary of your retirement account or life insurance policy. Making a gift of retirement funds or life insurance enables you to arrange for a future gift to CASA of the Mid-Shore without financial impact during your lifetime. Charitable tax deductions may also apply to these gifts.
Retirement account: You can have a positive impact on children far into the future by naming CASA of the Mid-Shore as beneficiary or contingent beneficiary of an IRA, 401(k), 403(b), or other retirement account. Please consult with your financial planner or attorney regarding considerations when making this type of gift.
Insurance policies: Life insurance may be used to create a legacy by naming CASA of the Mid-Shore as beneficiary or contingent beneficiary of the policy. This requires you to complete a change of beneficiary form with your insurance company.
Gifts of appreciated real estate or securities may allow you to avoid capital gains on the sale of the assets. You may choose to transfer appreciated real estate or in-kind securities to CASA of the Mid-Shore, and CASA can then sell the assets without having to pay taxes on the gain because it is a qualified charity.
A trust is a special type of “holding” device for assets. Briefly, you may choose to assign a certain amount of your assets to the charitable trust. The trust “holds” them and pays out the income for those assets—interest or dividends, for example, according to your instructions. Charitable trusts provide an opportunity for you to contribute to CASA of the Mid-Shore while receiving tax deductions and also retaining an income stream from the trust.
CASA of the Mid-Shore is pleased to partner with the Mid-Shore Community Foundation (MSCF), which is licensed by the State of Maryland to offer Charitable Gift Annuities (CGA). MSCF will provide the annuity to clients who wish to make CASA of the Mid-Shore the designated charity for their annuity. When you purchase a Charitable Gift Annuity of at least $10,000 from MSCF (minimum age 55), MSCF will pay income for the rest of your life, based on tables created by the American Council on Gift Annuities. You may also earn a tax deduction at the time of your gift, and a portion of every payment that you receive may be tax free for approximately the first ten years of the annuity.
