Planned Giving

How to make the gift: You can make a provision in your will or living trust that directs a portion of your estate to a named beneficiary, such as Unity House.

A bequest offers these benefits:

• You make a major gift while preserving these assets during your life.
• You leave a legacy of goodwill to your family and community by designating your gift to Unity House
• Income tax reduction; avoidance of any capital gains tax.

Cash, securities, real estate and tangible personal property, such as works of art, may be willed to Unity House through your estate. There are several ways to gift bequests, and there is specific language that needs to accompany these different gifts in your will.

Your Goal: Supplement income with fixed annual payments

How to make the gift: Enter a contract with Unity House in which we'll pay you fixed payments annually. 

Benefits: Current and future savings on income taxes; fixed income for life.

Your goal: Reduce gift and estate taxes on assets passing to heirs

How to make the gift: Create a trust that pays a fixed or variable income to Unity House for a set term and then passes to heirs

Your benefits: Reduced size of taxable estate; keeps property in family, often with reduced gift taxes

A charitable remainder unitrust (CRUT) pays a percentage of the value of the trust each year to noncharitable beneficiaries. The payments generally must equal at least 5% and no more than 50% of the fair market value of the assets, valued annually.

The donor or members of the donor's family are usually the initial beneficiaries. The trust provides variable income to the beneficiary, which is based on a percentage of the fair market value of the assets in the trust. This amount is revalued each year.

A CRUT is usually funded with a valuable asset, such as a house, stocks, bonds, artwork or other property. Additional assets can be added to the trust over time. So that the trust is not simply used to avoid taxes, the federal government requires that the charity receive at least 10% of the asset's value.

Example Charitable Remainder Unitrust

Sarah, a former Unity House service recipient, receives $200,000 in stock certificates from her grandfather. She wants to ensure that she has income from a trust but also wants to donate some funds to her Unity House. She establishes a charitable remainder unitrust, which follows these steps:

1. Sarah transfers the stock certificates to the trust.
2. The trust pays a percentage of the principal's value each year to Sarah.
3. When Sarah dies, the trust terminates and transfers $20,000 to Unity House.

A gift of life insurance is a low-cost way to make a sizeable donation. No other kind of gift can magnify your original contribution as much as a gift of life insurance. The annual premiums are deductible, if you itemize. Here are some options if you are considering a gift from your life insurance:

• You can name Unity House as the primary, secondary, remainder or residual beneficiary of an existing policy.
• You can establish a new policy and name Unity House as the irrevocable beneficiary.
• You can donate a policy you no longer need.
• You can use life insurance to replace the value of gifts to Unity House

Your goal: Make a revocable gift during your lifetime

How to make the gift: Name Unity House as a beneficiary of assets in a living trust.

Your benefits: Control of trust for lifetime; possible estate tax savings.

Your goal: Make a quick and easy gift.

How to make a gift: Donate cash, securities or property. 

Your benefits: Income tax deduction; avoidance of any capital gains tax

Your goal: Avoid capital gains tax on the sale of a home or other real estate holdings

How to make the gift: Donate the property to Unity House

Your benefits: Immediate income tax deduction and avoidance of capital gains tax

Your goal: Give your personal residence, but continue to live there

How to make the gift: Designate the ownership of your home to Unity House but retain occupancy

Your benefits: Charitable income tax deduction and lifetime use of home

Your goal: Avoid double taxation on retirement plan assets.

How to make the gift: Name Unity House as beneficiary of the remainder of the assets after timeline. 

Your benefits: Avoidance of heavily taxed gift to heirs, allowing less costly gifts.

If you are considering a gift of appreciated property, such as stocks or bonds, to Unity House, note these financial benefits:

• You receive a tax deduction for the full, current fair market value of the donated property.
• You avoid the capital gains tax and other expenses that would be incurred if the property were sold by you.