Planned Giving Options

By making a gift to Clermont Animal CARE Humane Society through your will, trust or other financial plan, you can help save animals now and well into the future.

When you incorporate charitable giving in your estate planning, you gain personal satisfaction — not only by completing your plan, but also by providing for the people and charities that matter most to you. The planned giving staff at Clermont Animal CARE would love to talk to you about the many opportunities for charitable giving that can save the lives of pets. Please contact us by phone at 513-732-8854 or by email at PlannedGiving@ClermontAnimalCARE.org to learn more.

Giving in Your Will or Trust

Planned Giving via Will or Trust

Why Use Your Will or Trust?

Making a gift to Clermont Animal CARE Humane Society through your will or revocable living trust is a simple and flexible way to save the lives of pets for years to come. Have you already named Clermont Animal CARE in your will or trust? Please let us know your plans. We’d like to thank you for joining us in our mission.

There are several ways that you can make a gift through your will or trust:

Specific Gift: You describe exactly what kind of gift you want to leave to a specific individual or organization and the designated source. If you want to leave a specific dollar amount from a specific source or a particular item (such as a piece of property or a collector’s item), this is the type of bequest you would use.

Example — Jeanne states in her will: “I leave my stamp collection to my grandson, Gregory. I leave my beach house to my daughter, Maria. I leave my securities to Clermont Animal CARE Humane Society.”

Example Mary states in her will: “I leave $50,000 to my nephew, Stephen. I leave $20,000 to Clermont Animal CARE Humane Society.”

Residuary Gift: This type of bequest is honored after all other bequests have been made, and all debts, expenses and taxes have been paid.

Example — Elizabeth states in her will: “I give all the rest, residue and remainder of my real and personal estate to Clermont Animal CARE Humane Society.”

Contingent Gift: This type of bequest is fulfilled if certain conditions are met. For instance, if your primary beneficiary does not survive you, you can indicate your next choice through a contingent bequest.

Example — Robert states in his will: “I give all the rest, residue and remainder of my real and personal estate to my wife, Susan, if she survives me; if not, then 50 percent in equal shares to my children who survive me and 50 percent to Clermont Animal CARE Humane Society.”

Giving Your Retirement Assets

Why Allocate Retirement Assets?

A gift of your retirement assets, such as a gift from your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a planned gift to Clermont Animal CARE Humane Society. If you are like most people, you probably will not use all of your retirement assets during your lifetime. Why not allocate the remainder to philanthropic giving, and help us?

Planned Giving by Allocating Retirement Assets

Typically, retirement plan balances are subject to both income and estate taxes. Because Clermont Animal CARE is a nonprofit organization, we won’t pay income tax on the distribution nor will the gift be subject to estate tax. Your retirement assets may be transferred to Clermont animal CARE by completing a beneficiary designation form provided by your plan custodian. If you designate Clermont Animal CARE Humane Society as a beneficiary, the animals will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate can also benefit from an estate tax charitable deduction for the gift.

Your retirement assets may be transferred to Clermont Animal CARE by completing a beneficiary designation form provided by your plan custodian. If you designate Clermont Animal CARE Humane Society as a beneficiary, the animals will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate can also benefit from an estate tax charitable deduction for the gift.

Giving Through Life Insurance

Planned Giving via Life Insurance

Why Use Your Life Insurance?

Clermont Animal CARE accepts gifts of life insurance either as the beneficiary of a policy or as the sole owner and sole beneficiary. Either way, we can use these gifts to save the lives of homeless pets all across Clermont County.

You can name Clermont Animal CARE as a primary life insurance beneficiary or as a contingent beneficiary should your other beneficiaries not survive you. After your lifetime, the benefits from your policy pass to Clermont Animal CARE, free of federal estate tax. To make this gift, simply contact your insurance carrier and request a beneficiary form. Here are some benefits to you:

  • Simple to Give: Involves little effort or paperwork
  • Financial Advantage: Continued ownership of your policy
  • Flexibility: You can change your mind and your beneficiaries at any time
  • Future Tax Savings: Removes the asset from your potential gross taxable estate
  • Legacy of Kindness: Your gift will help Best Friends continue its lifesaving work

Example: Years ago, Dorothy bought a life insurance policy to protect her family. Her family no longer needed this protection, so she decided to name Clermont Animal CARE as the life insurance beneficiary. After Dorothy’s lifetime, the policy will benefit homeless pets through Clermont Animal CARE’s work.

Making an outright gift of a paid-up insurance policy: Another option is to donate your paid-up life insurance policy to Clermont Animal CARE. If the policy has a cash value, Clermont Animal CARE would have the option of either holding the policy until the maturity date or surrendering the policy to receive the policy’s current cash value. Here are some benefits to you:

  • Income Tax Savings: You’re entitled to a current income tax deduction
  • Future Tax Savings: Removes the asset from your potential gross taxable estate
  • Legacy of Kindness: Your gift will help Clermont Animal CARE continue its lifesaving work

Example: Art bought a life insurance policy years ago that he now wants to donate to Clermont Animal CARE. Since he gave the policy to us, Art can claim an income tax charitable deduction. The total amount of the policy is removed from his estate, and we will use the gift to help homeless pets at the Shelter and across Clermont County.

Giving Through a Charitable Gift Annuity

Why Use a Charitable Gift Annuity?

You can realize tax savings and reliable annual income while donating to Best Friends. Here’s how charitable gift annuities work:

  • You make a donation to Clermont Animal CARE (minimum of $10,000).
  • You receive fixed annual payments for the rest of your life, at an attractive payment rate.
  • You receive an immediate charitable income tax deduction, and if you donate appreciated securities to fund your gift annuity, you will enjoy capital gains tax savings as well.
  • Your gift will benefit you (and someone else, if you choose) now, and save the lives of homeless pets in the future.
Planned Giving Using a Charitable Gift Annuity

One of the reasons that gift annuities are popular is because they are so flexible. Here are the most common options:

  • Immediate Payment Annuity: Once you make your donation, Clermont Animal CARE will make annual fixed income payments to you starting immediately.
  • Annuity that Reduces Your Capital Gains Taxes: If you have stocks or mutual funds that you have held a year or longer, you can use them to fund your gift annuity. By doing so, you will avoid a significant portion of the capital gains tax. The remaining gain will be equally allocated over several years of your annuity payments and will not be taxed all at once.
  • Annuity with Two Beneficiaries: One of the great things about gift annuities is that they can be set up to benefit two people, making them a great retirement and estate planning tool for couples, whether or not the individuals are married. If either beneficiary passes away, the surviving beneficiary will continue to receive the full annuity payment each year for life.
  • Deferred Payment Annuity: The payment rate of an annuity increases with age. If you don’t need income immediately, you can defer your first payment for a number of years to a point in the future. You will receive payments at a higher rate.

Clermont Animal CARE can provide a customized illustration of how a charitable gift annuity could benefit you. We’ll calculate your payments and tax benefits based on your age and a sample gift amount, without obligation and in confidence.

Clermont Animal CARE offers gift annuities to income beneficiaries age 60 and over. The minimum gift amount is $10,000.

Giving an Outright Gift

Planned Giving via an Outright Gift

Why Make an Outright Gift?

An outright gift of cash or appreciated property is another easy and wonderful way to contribute to the work of Clermont Animal CARE. Your gift will be put to immediate use, and you will be entitled to a charitable income tax deduction for the full value of your gift.

Giving by Rolling Over Your IRA

Why Rollover Your IRA

If you make a contribution to Clermont Animal CARE Humane Society through your IRA, you’ll be saving the lives of homeless pets and you’ll get great benefits, too!

A charitable IRA rollover is a wonderful option for people 70 and a half years of age and older. That’s because it allows you to make a gift to the animals — from $100 to $100,000 — and the distribution won’t count as taxable income. An IRA rollover is also a great option if you don’t normally itemize your charitable deductions. Check out the answers to the frequently asked questions below to see if an IRA rollover is right for you.

Planned Giving by Rolling Over Your IRA

What’s a Charitable IRA Rollover?

A charitable IRA rollover is a direct contribution made from your traditional or Roth IRA to a public charity like Clermont Animal CARE. Your contribution is excluded from your taxable income and can’t exceed $100,000 per year.

Who Benefits Most from an IRA Rollover?

Those with significant assets in an IRA or those who don’t deduct charitable gifts benefit the most from an IRA rollover. Charitable IRA rollover distributions count toward required minimum distributions.

Is My IRA Rollover Gift Deductible?

No. The gift from your IRA would be excluded from your income, so there are no additional deductions.

How Does My IRA Rollover Help the Animals?

Every gift, no matter how large or small, helps save the lives of homeless pets. When you make a contribution to Clermont Animal CARE from your IRA, you’ll be supporting lifesaving adoption programs, no-kill initiatives and more.

Start Planning NOW

To learn more about how the planned giving options can benefit you and the lost and homeless pets of Clermont County, please contact us by phone at 513-732-8854 or by email at PlannedGiving@ClermontAnimalCARE.org.

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