Leave A Legacy

Bequests are the most popular of planned gifts. They are simple and powerful. They can be created with a single sentence in your will or trust (or in a codicil or amendment to an existing will or trust). Bequests enable you to retain assets while you are living, making your gift only when you no longer need the assets.

One of the most tax-wise ways you can support Habitat for Humanity of Broward is to look first at your IRA. If you are 70 ½ or older, during your lifetime you can transfer up to $100,000 each year to a qualified charity like Habitat for Humanity of Broward. You can avoid having to take your required minimum distribution, which may have a negative tax effect on your income and social security taxes.

Charitable Gift Annuities provide annual income to you based on the amount of your gift, your age, your marital status and spouse’s age (if married), and the date the annuity begins. Charitable Gift Annuities can be a smart way to give cash and/or assets such as stocks to build a legacy and provide added income to you or your beneficiary during retirement. The annuity paid is often higher than earnings from certificates of deposit, savings accounts or stock dividends.

A charitable remainder trust is another option that pays you (or your designated beneficiaries) income during your (their) lifetime(s) or for a period of years. The amount paid depends upon the terms of the trust and may be a prescribed annual amount, or an amount based upon a percentage of the trust’s value, which changes and often grows over the years. At the end of the term, the remainder passes to Habitat for Humanity of Broward.

Charitable Lead Trusts reverse the model of a charitable remainder trust and pay a charity like Habitat for Humanity of Broward an annual gift for a period of years. At the end of that term, what remains in the trust goes back to you or your designated beneficiaries.