Your home or farm can be given to USF, while you keep the right to live on and use the property for your lifetime. This is called a gift with life estate . You can receive a significant immediate income tax deduction, and the property is removed from your estate, which may reduce estate and inheritance taxes. You may wish to include USF as a beneficiary for a percentage of your life insurance policy proceeds, with estate tax benefits. Or, you may choose to make a gift of a paid-up insurance policy to USF, resulting in a current income tax deduction for the cash value of the policy.
Many people have IRAs or other tax-deferred retirement plans .
But few people know that they can include their favorite charity as a beneficiary. A charitable gift annuity is an irrevocable agreement between USF and the donor. In exchange for a gift of cash or property, USF agrees to pay the donor a specified amount annually for the donor s lifetime, or for the lifetime of the donor and another person. Several kinds of charitable trusts can provide significant savings on income and capital gains taxes, as well as potentially increasing your annual income. Charitable trusts are often funded with gifts of property that is highly appreciated, but is currently producing relatively little income for the donor.