Planned Giving

A "planned gift" is one which you make during your lifetime but which is not received by Animal Friends until some future date. A planned gift offers specific financial benefits to you, the giver.

A "planned gift" to Animal Friends of North Central West Virginia (AFNCWV) allows you to realize significant financial gains while providing the needed (and worthwhile) support to Animal Friends. With proper planning, your gift can fulfill your philanthropic and financial needs as well as fulfill the AFNCWV goal of saving and caring for homeless animals.

Gifts During Your Lifetime

Gifts of Appreciated Property
There are advantages to your estate for making gifts to the Animal Rescue during your lifetime. With these gifts of cash, appreciated stocks or bonds, personal property or real estate you are eligible for charitable tax deductions and, in some cases can avoid costly capital gains tax or estate taxes. Your tax advisor or attorney can advise you on the best way to make these kinds of gifts during your lifetime.

Gifts that provide income to you
By creating a Charitable Remainder Trust through a gift of money or property, you can receive income for the remainder of your life. The 'remainder' of the trust, after all payments to you, goes to help the animals at the Animal Rescue League. Trusts that provide a fixed amount per year are called annuity trusts, while those whose payments fluctuate depending on the value of he assets are referred to as unitrusts. Significant tax savings can be realized on the creation of Charitable Remainder Trusts of either type.

Your Will

The most common form of "planned gift" is made through your will. Your will distributes your property in the manner that you wish when you die. Your will can establish trusts for beneficiaries who lack the ability or desire to manage an inheritance. You can nominate those you would prefer to administer your estate. Having a legal will prepared can even minimize the settlement costs of your estate. The making of a will ensures that your assets are distributed according to your wishes, not the state in which you reside.

You may wish to have your attorney notify Animal Friends of the terms, conditions and circumstances of your will. The Animal Friends of North Central West Virginia is a fully tax exempt 501(c)(3) charitable organization chartered by the IRS.

If you already have a will, you need only call your attorney and advise him of your interest in making a bequest to the Animal Friends. In most cases, a bequest may be stated by the creation of a codicil to your existing will.

There are several types of bequest forms:

A specific dollar amount:
"I hereby devise and bequeath the sum of $25,000 to the Animal Friends of North Central West Virginia."

A percentage of your estate:
"I hereby devise and bequeath 50 percent (50%) of the rest, residue and remainder of my estate to the Animal Friends of North Central West Virginia."

The remainder value after all other gifts to your family:
"I hereby devise and bequeath all the rest, residue and remainder of my estate to the Animal Friends of North Central West Virginia."

Another option may include:
A specific, definitive asset (a house, artwork or land)

Gifts of Life Insurance

You can make a gift of life insurance to care for homeless animals by naming the Animal Friends as a beneficiary and owner of a new life insurance policy. You will receive a tax deduction on the premium that you pay each and every year. Another way of giving a gift of life insurance is to contribute an existing policy to the Animal Friends directly.

Click here for IRS Publication 526 - a publication discussing how to claim a deduction for charitable contributions.

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