Looking for ways to contribute to your favorite animal charity, beyond making a cash donation? Here are some generous alternatives to consider when you want to support a nonprofit cause you love.
Bequests for wills or trusts
Bequests are simple to implement and easy to change. You maintain the use, benefit, enjoyment, and control of your assets for as long as you need them, for as long as you live.
You can include a bequest provision in your will or living trust that specifies an amount or percentage of your estate that you wish for a charity to receive. Here are some benefits:
—You can make adjustments to your will or trust if circumstances change.
—It does not affect you financially during your lifetime.
—Loved ones will not be overlooked — you can specify the amount given to each party.
—Both are deductible for federal estate tax purposes. There is no limit on the deduction your estate can claim, and the gift may be exempt from state inheritance taxes.
Donating appreciated stock is one of the easiest ways to give more to causes you care about. Giving stock often results in a larger donation to the organization, as the gift is tax-deductible and there are no capital gains taxes to pay.