Gifts allow you to remember family members and friends who have been a vital part of your life. Honoring a loved one or special friend through a memorial gift can be an especially meaningful act of paying tribute to someone special, while doing your part to assure that the Good News of Jesus Christ continues to be broadcast around the world through HCJB Global. Making gifts for the benefit of others offers a wonderful way to affirm your own values and priorities as well.
Leaving a Legacy
Consider the following ways to Leave a Legacy in memory of a special friend or loved one.
A bequest included in your will or living trust can establish a lasting legacy in memory of this special person.
A testamentary gift of retirement fund assets, such as Individual Retirement Accounts (IRAs) or pension plans, will enhance a memorial gift by eliminating the taxes that your individual beneficiaries would otherwise have to pay when they withdraw these inherited funds for their personal use.
A lifetime transfer of a Life Insurance Policy, purchased to protect a loved one who is no longer in need of protection or financial support, can become an excellent gift in honor of that person.
Lifetime transfers of cash or appreciated securities are appropriate for Living Memorial Gifts as well.
Memorial gifts of cash are generally deducted in amounts of up to 50% of your adjusted gross income (AGI). Gifts of appreciated assets are generally deductible in amounts up to 30% of AGI. When appreciated securities or other capital gain assets owned for more than one year are donated to establish a Living Memorial, the donor is entitled to a charitable deduction in the full amount of the gift, not just its original cost basis. The result is a full fair market value deduction as of the date of gift without capital gains tax having to be paid.
For further information on establishing a Living Memorial with HCJB Global, please contact
and let us know how we may be of further assistance to you with a Living Memorial Gift.
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