Planned Giving

Leave a legacy that helps your community.

Planned giving is an easy way to make a statement about what you valued in your life, such as helping others in your local community.

Read through the online Planned Giving brochure (below) or pick one up at any Good Cheer location. Questions?  We’ll be happy to answer them. call us at (360) 221-0130.

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Congress has helped us a bit by passing the AMERICAN TAXPAYER RELIEF ACT. It continues the Federal Estate and Gift credit amount of $5 Million indexed for inflation so it is now $5,250,000 with a provision for carrying over unused amounts to a surviving spouse. The Washington state estate tax credit amount remains at $2 Million. The unlimited marital deduction continues in both federal and state. The federal tax over the credit amount is 40%. Annual gift tax exclusion, also indexed for inflation, is now $14,000. The best news is that the Estate tax provisions are now made permanent—or at least as permanent as any tax law can be.

Better yet, the Charitable IRA Rollover provisions have been extended through December 31, 2013 for transactions after January 1, 2013. Persons over 70 ½ may ask their IRA custodian to transfer up to $100,000 in 2013 to a public charity. This will not be income or a charitable deduction—the result is better than a deduction.

Other estate planning options still remain, such as naming a charity (South Whidbey Good Cheer) as beneficiary of your IRA or Life Insurance. If you are making monetary distributions among family and charity or charities it is best to make the charitable distributions from your IRA because the charity will receive the IRA distribution free of income tax and this leaves more for distribution among family. You can also name South Whidbey Good Cheer as a beneficiary under your will, trust or either for a specific amount, a per cent or the residue.