Planning Your Gift To The Epilepsy Council

Excerpted from The Update, December 2005

There are many ways to give a gift of hope through the Epilepsy Council's Planned Giving Program. Outright gifts such as cash, publicly traded securities, real estate, tangible personal property, mutual fund shares, and closely held stock are often the most common ways to give. These gifts generate an income tax charitable deduction for you in the year of the gift and, if the non-cash asset has appreciated in value, you will owe no capital gains taxes on the appreciation, which you would owe were you to sell the asset.

The following describes other ways in which you can make a gift to the Epilepsy Council:

A Charitable Remainder Trust - An arrangement whereby you transfer property to a trustee who manages the trust in accordance with the guidelines you have established. After paying you income for your lifetime (or the lifetimes of other beneficiaries), the trust terminates and the assets become the property of the Epilepsy Council. Because the trust is tax-exempt, no capital gains taxes are due upon the sale of highly appreciated property. You qualify for an income tax charitable deduction the year you establish the trust and your estate will qualify for an estate deduction.

The Charitable Gift Annuity - A contract between you and the Epilepsy Council. In exchange for cash or securities, the Epilepsy Council will pay you and/or another a fixed lifetime income. Your rate depends on your age. You will receive a charitable income tax deduction in the year of the gift and a portion of your income may be tax free.

Retirement Plan Assets - Because your I.R.A or qualified retirement plan is subject to very high income and estate taxes upon you and your spouse's passing, designating the residual balance to the Epilepsy Council is an excellent way to make a significant gift. You may also direct that residual balance be transferred to a Charitable Remainder Trust to benefit your spouse or another before coming to the Epilepsy Council. Retained Life Estate - you can deed your personal residence to the Epilepsy Council and retain the right to live there for life. You will be responsible for maintenance costs, insurance and real estate taxes; but you will also qualify for a charitable income tax deduction based on the appraisal value of the property and your life expectancy.

Life Insurance - You can transfer the ownership of your policy to the Epilepsy Council; you can retain ownership, but name the Epilepsy Council as a beneficiary of your policy; or you could purchase a policy to benefit your heirs, thus replacing the value of your estate gift to the Epilepsy Council.

Gifts Through Your Estate - Gifts through your will or trust enable you to distribute assets to individuals and the Epilepsy Council in amounts or portions you indicate.

The tax laws have been designed to provide incentives for donors to make gifts to non-profit organizations like the Epilepsy Council. A carefully planned gift can combine financial and charitable objectives in such a way as to enhance tax benefits and realize personal goals. We would be delighted to work with you and your personal advisor to help design a plan that will benefit you, your family and the Epilepsy Council.

For additional information, please call (513) 721-2905. To make a one-time donation or review other ways to help the Epilepsy Foundation of Cincinnati, please visit our Donation Page.