TRUSTS AND NON-CASH ASSET GIVING
Set up a trust, provide an income for yourself (while enjoying tax deductions), and support lifesaving open-heart surgeries for children in poverty. We also accept Non-Cash Assets such as tangible property, art, real estate, and more!
Trusts are an amazing giving tool designed to help benefit the donor and the charity of their choice. Trusts provide Morning Star Foundation with predictable long-term support and the donor an income stream while enjoying tax deductions.
We are proud to have partnered with HighGround Advisors! They have been in business since 1930, manage over $2.5 billion of investments, and have in-house advisors and attorneys. If you want to discuss your different giving options, email us at: [email protected].
Charitable Remainder Trust
Charitable Remainder Trusts provide an excellent opportunity for individuals to participate with charities of their choice, while retaining an income stream from the gifted property for the duration of their lifetime or for a specified term of years. Remainder trusts can be funded with almost any asset and provide donors with an income tax-deductible donation in the year the gift is made.
Charitable Lead Trust
If an individual selects a Charitable Lead Trust, the donation provides an immediate income stream to the charitable organization of the donor’s choice. At the conclusion of the trust’s term, the trust amount will be returned to the donor or the donor’s family members. Using a charitable lead trust, assets are transferred to the donor’s trust, and a charitable organization is named to receive the income stream for a term of years or a lifetime – commonly measured by the donor’s life. Lead trusts can be funded with almost any asset. Depending on the remainder beneficiary, donors receive either a gift or income tax charitable deduction.
A revocable trust is a giving arrangement that contains a provision stating it may be altered or canceled by the grantor. During the life of the trust, the earned income is distributed to the donor and transfers to the charitable beneficiaries upon death. While more costly than other giving vehicles, this option is appealing because it allows the donor to control the principal and can be canceled.
Non-Cash Asset Giving
You can help support open-heart surgeries by giving non-cash assets such as retirement plans, tangible property, life insurance, and more. Email us at [email protected] to find out more!
Charitable Gifts of Property While Retaining Life Estate
Making a gift of a house or farm while retaining a life estate allows a donor to receive an income tax charitable deduction while retaining the use of the property for the duration of his or her lifetime. To carry out this gift, the donor would transfer their property to HighGround Advisors for the benefit of the charitable cause selected, while retaining a life estate in the gifted property. This means the donor can continue to use the property throughout the donor’s lifetime, and upon the donor’s death, the property automatically passes to the selected charitable organization. The individual who retains a life estate is responsible for the insurance, taxes and maintenance of the property until death. The donor also receives an income tax charitable deduction in the year the gift is made.
We understand there are many options, and it is easy to feel overwhelmed! Contact us at [email protected] to discuss what might work best for you.