Helping others in your community
Estate Tax Savings
Income Tax Savings
Capital Gains Savings
Fixed Income for Life
Our hope is to serve you and your family with helpful information about planned giving gifts. We have an increasing number of friends and supporters who now are benefiting from life income gifts, gift annuities, and other plans. Thank you for taking the time to explore the benefits of gift planning. If you have further questions, please feel free to contact Greg at 224-585-4378 or email with any questions about making a planned gift to the Center of Concern.
The Center of Concern is also pleased to offer you a free will planning guide and an Estate Planning Worksheet. This guide and worksheet will help you begin your planning process. To request a copy or to download the guide complete this form
Gifts can take multiple forms and can help you address your personal goals and dreams. Do you want to make a significant gift during your lifetime, or would a gift as part of your estate work better? Do you have a particular asset that you are thinking of donating? Do you want to increase your retirement income, or is your primary goal estate preservation? Are you carrying surplus life insurance or a large balance in your retirement plan? Here are some places to start as you consider ways to support yourself, your loved ones and the Center of Concern all at the same time.
The benefits of charitable giving are many, whether your gift comes through a bequest or during
Wills, Stocks, Revocable Living Trust, Life Income Gifts, Charitable Gift Annuity, Charitable Remainder Trust, Life Estate, Real Estate, and Retirement Account, as well as some other gift types that are listed below. If you are planning to make a year-end gift and itemize your taxes click here.
If you have a question about a planned gift call Greg at 224-585-4378.
Charitable Remainder Unitrust (CRUT)
Two Types of Charitable Trusts
Benefits of Gifting Appreciated Assets
Are your appreciated assets (such as stock, bonds or real estate) producing little or no income?
If you sell your appreciated assets, you will pay a large capital gains tax. A sale and charitable remainder unitrust may be the solution.
How a Sale and Unitrust Works.
- You give a portion of your asset.
- The asset is sold, you receive cash and the rest goes to fund your charitable trust.
- The trust will provide you with income for the rest of your life.
- You receive a charitable deduction this year to offset your tax on the sale.
Benefits of a Sale and Unitrust
- You get the cash you need to purchase another residence, travel or meet your daily needs.
- The Unitrust provides you with income for the rest of your life and future retirement.
- The Unitrust deduction gives you valuable tax savings that may reduce your tax bill this year.
- When you pass away, the remaining value in the Unitrust will help us further our work.
Deferred Gift Annuity (DGA)
If you are 60 or older, a Deferred Gift Annuity (DGA) can provide you with income and/or capital gains tax advantages and high, fixed income when you reach 65. The same investment will benefit the charities in which you most believe. The Deferred Gift Annuity (DGA) If you are younger than 65 this annuity can be used as a retirement planning vehicle to supplement existing retirement assets. It is most beneficial to donors who have already made the maximum contributions to their existing retirement plans.
You will be paid a fixed amount of income on a regular basis, beginning at age 65. Part of the gift qualifies for an immediate income tax deduction. That will reduce your current taxes. And the full value of the gift is removed from your estate. The younger you are, the larger the tax-deductible portion of the gift. What’s more, part of the annuity payment may be received as tax-free income.
Many donors create Deferred Gift Annuities on an annual basis to build retirement assets. The donor may name a joint and successor beneficiary who will receive the annuity at the end of the donor’s lifetime, beginning on the date of the donor’s 65th birthday or thereafter.