These gifts can be directed to some particular program or designated for unrestricted use. There are benefits to both donor and recipient. Outright gifts are among the simplest, most immediate ways to exercise Stewardship. Moreover, lifetime gifts are usually preferable, from a tax standpoint, to gifts made by a Will. Not only are lifetime gifts removed from the donor's estate, but the donor, in effect, gets part of the gifts back through an income tax deduction.
Appreciated property can be a particularly attractive gift.
It is deductible at its full fair market value at the date of the gift, and the donor does not have to realize or report the capital gain. Other planned and deferred gift opportunities are also outlined here. A Gift by Bequest Everyone, regardless of age, background or financial condition, should have a Will. Without one, even your spouse, children or other loved ones may not receive the bequests you intended from them, depending on State laws. Certainly, charities such as The Franciscans receive nothing.