An excellent way for you to support the St. Charles County Historical Society is through planned giving. You can join with others who have a dedicated interest in collecting, preserving and making available to patrons the rich heritage of St. Charles County. As one of the earliest counties formed in the settling of the land west of the Missouri River, a county whose vast territory stretched all the way to the Rocky Mountains, St. Charles County is of fundamental interest to historians and the general public alike. If you would like to receive more information about how you can make a planned gift to the St. Charles County Historical Society, please contact our Development Committee Chairman at SCCHS at 636-946-9828.
Although a planned giving program can be groomed to your specific needs and desires, here are some of the ways you can participate in planned giving:
Bequests
A significant way to show your support is to name the St. Charles County Historical Society (SCCHS) in your will or trust. When naming SCCHS in your will or trust document, you can do so by stating a monetary amount, a gift of certain named securities, or a certain percentage of your estate. A charitable bequest to SCCHS is 100% deductible against estate taxes due on your estate. If you already have a will or trust, you can add SCCHS to it simply by attaching a codicil to your will or an amendment to your trust that describes the changes you wish to make. You can contact our Development Committee Chairman at SCCHS for assistance with sample bequest language, or click here to see sample language for various types of bequests.
Gifts of Retirement Funds
Some retirement plans include an option to bequeath your retirement plan assets to a charitable organization. This represents an ideal method by which you can support SCCHS. By removing these assets from your estate, your heirs will not have to pay income tax on them in addition to the regular estate taxes. Your bequest of these assets will reduce your estate value subject to taxation. Assets that are gifted to non-profits are free from estate and income taxes, an important benefit to you and also to SCCHS.
Charitable Remainder Trusts
Another important tool for estate planning is the Charitable Remainder Trust, an individual trust that is funded with cash or appreciated assets, that names SCCHS as the recipient of the remainder of the trust. Charitable Remainder trusts distribute a fixed dollar amount of trust income to one or more beneficiaries either for their lifetime or for a fixed term. Charitable Remainder Uni-trusts distribute a variable amount either for a set term of years or for the lifetimes of the beneficiaries. Income can be distributed as a fixed percentage of the trust's annual value or of the income of the trust. SCCHS then receives the remainder of the trust assets after the term of the trust ends. There are several advantages of such trusts:
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Annual income for yourself and/or other beneficiaries
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A partial charitable income tax deduction in the year the trust is funded
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The donor will not immediately incur capital gains tax liability on appreciated long-term assets
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Freedom from the burden of managing the property placed in the trust
Charitable Lead Trusts
A Charitable Lead Trust pays income to SCCHS for a number of years or for your lifetime and then transfers the remaining assets in the trust back to you or to another individual you name. These types of trusts are not tax-exempt trusts, as they are subject to the same income and estate tax laws as other non-tax-exempt trusts.
Life Insurance
Another opportunity to support SCCHS is to gift your fully paid life insurance policy to SCCHS, or name SCCHS as the beneficiary of an existing life insurance policy. It is also possible to take out a new life insurance policy that names SCCHS as the beneficiary.
Retained Life Estates
A type of planned gift that has benefitted SCCHS in the past is the Retained Life Estate gift. By gifting your home, condo, vacation home or other property, you will immediately receive a charitable deduction on your income tax. You will still retain the right to reside in the property or otherwise occupy it as long as you live. The property will become a gift to SCCHS either upon your death or when you no longer need the property.
Gift Annuities
By means of this type of gift, an individual makes an annuity contract that transfers to SCCHS an irrevocable gift of cash or marketable securities. SCCHS then is responsible for paying a fixed sum to one or two annuitants each year for the life of the gift.
Contact us for a more in-depth discussion of your planned giving opportunities. We thank you for considering SCCHS in your estate planning.
As with all estate planning endeavors, you should consult with your financial advisor as to the best way for you to accomplish your planned giving and philanthropic goals while providing for your current needs. We also recommend that you contact SCCHS and inform us of your intention to name us in your estate plans and to spell out any special intents of your gift. The information provided in this website is not intended as legal advice. For legal advice please contact your attorney.
