Leaving your philanthropic mark for the benefit of future generations is a milestone in good estate planning. Individuals interested in maximizing the economic future of their children and grandchildren can, at the same time, enhance the financial future of Penn Foundation.
Planned Giving Tools
Bequests: Your will is the key document in your estate planning. Wills, family trusts, and partnerships can help preserve your accumulated assets as they pass from one generation to another. Gifts of cash and select appreciated assets can be made to Penn Foundation as a stated intent your will.
Memorials/Honorariums: Life milestones of joy and sorrow are many times memorialized/honored through a gift to Penn Foundation. We receive gifts of any size. Gifts are acknowledged by a letter to the families and/or person memorialized/honored by the gift.
Charitable Annuities: Charitable Gift Annuities are a good instrument to provide monthly income for your retirement years. Charitable annuities differ from a regular annuity in that the principle invested sum can be assigned to Penn Foundation as an end-of-life benefit. There are tax benefits to this estate planning approach.
Charitable Remainder Trust: The Charitable Remainder Trust is important to the management of the sale of high-valued assets that will provide a reliable monthly income while satisfying long-term charitable giving objectives. The trust helps minimize the tax impact resulting from the sale of a high-valued appreciated asset. Placing these assets in a Charitable Remainder Trust provides you with a monthly income stream, an income tax deduction and eliminates the capital gains tax.
Charitable Lead Trust: A Charitable Lead Trust can facilitate the passing of assets from one generation to another while gifting a monthly donation to Penn Foundation. At the end of the life of the trust, the principle and any accumulated assets are passed to its beneficiary. Your heirs will have a minimal or reduced gift or inheritance tax on assets passed by this method. If the asset appreciates, a tax will be made against the amount of the appreciation.
Insurance: You can purchase a whole life or term life insurance policy and make Penn Foundation the beneficiary. Life insurance can allow you to turn a limited sum of money into a major gift to Penn Foundation.
Retirement Accounts: Penn Foundation can be the beneficiary of your individual retirement account. In addition, a tax strategist can help you determine how to preserve the principle for passing this asset to your children and grandchildren without the substantial impact of income tax.
We have assembled a Planned Giving Advisory Team to help educate and inform interested donors. This carefully selected team includes area experts experienced in estate planning, including a certified public accountant, a trust banker with knowledge of investments and insurance, and an attorney. These individuals are available to advise you about estate planning and charitable giving to Penn Foundation.