Economic conditions in recent months have made it more important than ever to make careful choices about how to spend, save, and give our resources. That is why we especially appreciate those who have chosen to continue their support.
You may find that time spent determining the best ways to give can help you stretch your charitable dollars. By carefully considering the form and timing of your gifts, you may discover you can make gifts you may not have thought possible.
Read on for ideas that may be beneficial to you and yours loved ones as you consider your charitable giving plans for the rest of this year.
Bequest:
When planning your estate, please consider naming Miller Home of Lynchburg as a beneficiary in your will, trust, retirement plan, or life insurance policy. Bequests can be restricted or left unrestricted so that your gift can be used wherever it is most needed when it is received. A donor may leave a specific amount of money, a particular asset, or a percentage of his/her estate.
Charitable Gift Annuity:
A Charitable Gift Annuity is a gift that will provide a donor (or the donor's designated annuitant) with fixed income payments for life and provide generous support for Miller Home of Lynchburg.
A Charitable Gift Annuity is a irrevocable gift and may be established with a gift of cash, appreciated securities or real estate. The Charitable Gift Annuity is a contract between the donor and Miller Home of Lynchburg. Under this contract the donor contributes assets to Miller Home of Lynchburg, which in turn provides a guaranteed fixed income for the life for one or two beneficiaries. The amount of the annuity payment is dependent upon the age of the designated annuitant at the time of the gift and remains constant for life. In addition, donors may claim a charitable income tax deduction in the year the gift is made.
Charitable Trusts:
A Charitable Remainder Unitrust removes an asset from the donor's estate and designated Miller Home of Lynchburg as the trustee or the irrevocable beneficiary. Charitable Remainder Unitrust provides donors with a current tax deduction and allows them to retain the income generated by the asset during their own, and sometimes an additional beneficiary's lifetime. The remainder value of the trust, when it is dissolved on the death of the last beneficiary, supports Miller Home of Lynchburg.
Charitable Lead Trust:
Charitable Lead Trust is a different type of deferred gift in which a donor puts an asset in trust for a period of time so that the income generated by the asset benefits Miller Home of Lynchburg. At the end of the designated period, the asset is passed on to a named recipient. This is an especially tax advantageous gift vehicle for passing an asset from one generation to another while also helping Miller Home of Lynchburg.
Gifts of Life Insurance:
If you own life insurance policies that are no longer needed for their original purpose, the cash value of such policies may be a source from which to make gifts that can provide welcome tax savings today and may also result in significant state and/or federal estate tax savings in the future.
You may find that time spent determining the best ways to give can help you stretch your charitable dollars. By carefully considering the form and timing of your gifts, you may discover you can make gifts you may not have thought possible.
Read on for ideas that may be beneficial to you and yours loved ones as you consider your charitable giving plans for the rest of this year.
Bequest:
When planning your estate, please consider naming Miller Home of Lynchburg as a beneficiary in your will, trust, retirement plan, or life insurance policy. Bequests can be restricted or left unrestricted so that your gift can be used wherever it is most needed when it is received. A donor may leave a specific amount of money, a particular asset, or a percentage of his/her estate.
Charitable Gift Annuity:
A Charitable Gift Annuity is a gift that will provide a donor (or the donor's designated annuitant) with fixed income payments for life and provide generous support for Miller Home of Lynchburg.
A Charitable Gift Annuity is a irrevocable gift and may be established with a gift of cash, appreciated securities or real estate. The Charitable Gift Annuity is a contract between the donor and Miller Home of Lynchburg. Under this contract the donor contributes assets to Miller Home of Lynchburg, which in turn provides a guaranteed fixed income for the life for one or two beneficiaries. The amount of the annuity payment is dependent upon the age of the designated annuitant at the time of the gift and remains constant for life. In addition, donors may claim a charitable income tax deduction in the year the gift is made.
Charitable Trusts:
A Charitable Remainder Unitrust removes an asset from the donor's estate and designated Miller Home of Lynchburg as the trustee or the irrevocable beneficiary. Charitable Remainder Unitrust provides donors with a current tax deduction and allows them to retain the income generated by the asset during their own, and sometimes an additional beneficiary's lifetime. The remainder value of the trust, when it is dissolved on the death of the last beneficiary, supports Miller Home of Lynchburg.
Charitable Lead Trust:
Charitable Lead Trust is a different type of deferred gift in which a donor puts an asset in trust for a period of time so that the income generated by the asset benefits Miller Home of Lynchburg. At the end of the designated period, the asset is passed on to a named recipient. This is an especially tax advantageous gift vehicle for passing an asset from one generation to another while also helping Miller Home of Lynchburg.
Gifts of Life Insurance:
If you own life insurance policies that are no longer needed for their original purpose, the cash value of such policies may be a source from which to make gifts that can provide welcome tax savings today and may also result in significant state and/or federal estate tax savings in the future.
Planned Giving
If you would like to donate by mail, please send your check or money order to:
Miller Home of Lynchburg
2134 Westerly Dr.
Lycnhburg, VA 24501
To donate by phone using a credit cardcall (434) 845-0241
Miller Home of Lynchburg
2134 Westerly Dr.
Lycnhburg, VA 24501
To donate by phone using a credit cardcall (434) 845-0241
We accept Discover, Master Card & Visa
