Making a Gift Today
When you make a gift now, you can see the results of your generosity now, during your lifetime. The following are ways by which you do so:
Gifts of Cash, Securities and In-Kind Gifts
Making a donation of cash is as simple as writing a cheque or authorizing a charge on your credit card. It is hassle-free. A gift of cash will generate a tax receipt in the year it is given.
Gifts of publicly traded securities, bonds or real estate may be made to the JCF and a tax receipt will be issued for the fair market value of the gift at the time of the donation. For gifts of securities, you may also benefit from tax savings as the potential capital gains tax is now eliminated.
Click for IllustrationMaking a deferred Gift
When you make a deferred gift, you can incur significant tax advantages for your estate while leaving a lasting legacy for future generations:
Life Insurance
You may purchase a new policy and name the JCF as owner and beneficiary or choose to transfer an existing policy you no longer need and name the JCF as owner or beneficiary. This will allow you to create a significant legacy at a modest cost.
Bequests
A bequest is a flexible gift. With a bequest, you maintain control and use your assets during your lifetime while also preserving the ability to make modifications to your future gift. You can structure a bequest to leave a specified dollar amount, a percentage, or the residue of your estate in your Will. The estate will receive a tax deduction. Most importantly, because you are not actually making a gift until after your lifetime, you can change your gift at any time if need be.
These descriptions are informational only and do not constitute legal or tax advice as to how a specific gift vehicle will impact you. Always consult your professional advisors.