A portion of the gift provides an income tax deduction and any capital gains taxes on appreciated property are deferred or, in some cases, avoided. Trusts can also benefit estate plans. Since there are substantial tax penalties for having too much money left in a retirement plan, naming a nonprofit organization could be beneficial. The Adrian Dominican Congregation can be named first, second or last beneficiary for part or all of a retirement fund. For advice and assistance in making a planned gift, consult an attorney or another professional advisor.
State laws affect wills, trusts and charitable gifts made in contractual agreement.
The explanatory material given on these pages is not meant to offer legal or tax advice.