1300 W. Conway Rd. Harbor Springs, MI 49740  231-347-2396

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Planned Giving

Plan to Give so They can be Rescued.

True_love_logoBecause Little Traverse Bay Humane Society is 100% donor funded, donations are crucial to ensuring that every animal who comes through our doors receives exceptional care.

You can help us save the lives of homeless animals by including Little Traverse Bay Humane Society in your will or living or charitable lead trust.

The benefits of creating a will or living trust include:

  • Your assets remain in your control during your lifetime.
  • Bequests can be modified if your circumstances change.
  • There is no limit on the estate tax deduction that can be taken for charitable bequests.
  • Your gift will save the lives of homeless animals and provide them a safe, healthy haven at Little Traverse Bay Humane Society until they can find their forever homes.

 

Charitable Lead Trust
A charitable lead trust is a tax-advantaged philanthropic strategy. It allows you to direct your wealth in ways that reflect your charitable values and beliefs during your lifetime, while also allowing you to transfer wealth to your heirs. A charitable lead trust if often established as part of an estate plan. It offers the tax and other benefits of charitable giving and allows you to:

  • Provide charities with a regular payment stream for a specified period.
  • Reduce estate or gift tax costs on the remaining trust assets passing to your heirs.

 

A charitable lead trust may be designed as a grantor lead or non-grantor lead trust. With a grantor trust, the principal usually reverts to the original donor at the end of the trust term. A non-grantor trust, which is more commonly used for a charitable lead trust, leaves the assets remaining at the end of the trust term to beneficiaries other than the original donor.

  • However the trust is designed, for a specified period and at least annually, charities receive fixed or variable regular payments from the trust.
  • Remainder beneficiaries of the trust (for example, family members) will receive the remaining trust assets upon termination. Any asset growth in excess of the regular charitable distributions will be distributed to the remainder beneficiaries free of additional gift or estate tax. Generation-skipping transfer (GST) tax may apply, depending on the type of charitable lead trust created.

What are the benefits of a charitable lead trust?
The income, gift, estate and GST tax benefits are dependent upon the type of trust you establish.

  • If you establish a grantor lead trust, you can take an up-front income tax deduction for the current value of the payment stream distributable to the charities. However, future income and gains that the trust generates will be taxable to you and you will not be entitled to any additional charitable deductions for the annual distributions to the charities.
  • If you establish a non-grantor lead trust during your lifetime, the trust’s annual income-tax liability is reduced through its deductible charitable contributions. You will receive a gift tax deduction for the up-front present value of the payment stream to the charities. Appreciation of assets is free of estate and gift taxes. If the trust is established at your death, the estate can take the then-present value of the payment stream to the charity as an estate tax deduction.
You can truly make a difference in the lives of the homeless animals who are waiting for their second chance. Please consider Little Traverse Bay Humane Society in your estate planning.

 

To learn more, please discuss the ways you can give with your financial planner or call 231-347-2396.