The Community Foundation of West Texas offers a wide range of Planned Giving Opportunities to help you support the causes you love while enjoying significant tax benefits.
Some options can provide income during your lifetime with the remainder going to your fund at the Community Foundation of West Texas upon your death.
Planned Giving Options:
- BEQUESTS > The simplest gift is a bequest in your will or trust that directs specific assets or a percentage of your estate to establish a fund or add to an existing fund.
- CHARITABLE REMAINDER TRUSTS > Through an irrevocable trust, you receive fixed or variable payments for your lifetime or a term of years. The remainder passes to Community Foundation of West Texas, creating a permanent fund in your name to benefit the charitable cause that you designate.
- CHARITABLE LEAD TRUST > Your income producing asset funds a trust with a gift of the income flowing to your fund at the Community Foundation of West Texas during the term of the trust. Remaining assets go to your heirs free of tax on the asset’s appreciation.
- CHARITABLE GIFT ANNUITIES > A simple contract guarantees you a fixed income in exchange for a gift to Community Foundation of West Texas. Annuity rates are set by the American Council on Gift Annuities.
- LIFE ESTATES > You contribute your primary home, a vacation home, farm or ranch to Community Foundation of West Texas, but you retain the right to use it during your lifetime. You receive an immediate tax deduction, and the property is not included in your estate.
- RETIREMENT PLAN AND INSURANCE BENEFICIARY DESIGNATIONS > You can create a named fund at Community Foundation of West Texas by designating us as the beneficiary of a retirement plan such as an IRA , 401(k), or life insurance policy. At death, the assets transfer to the Foundation, reducing estate and income taxes.
There is no better way to serve your community both now and long after your grandchildren’s grandchildren are grown.