Planned Giving / Legacy Giving
What legacy would you like the leave the world of Cocker Spaniels? A wonderful way to continue to benefit the work of the Foundation in health, education, and rescue for our beloved Cocker Spaniels is to consider a Planned Giving or Legacy bequest to the American Spaniel Club Foundation. These can be designated to the general fund or applied to any of our three programs – research, education, or rescue.
How donors benefit from planned giving
1. Planned giving allows you to leave a legacy.
If you have been supporting the Foundation for years, making a bequest in your will is a powerful way to leave a lasting impact. And if they haven’t been able to make a large gift during your lifetime, you can establish your legacy by making a bequest in your will and supporting the Foundation for years to come.
2. You can decide how your contribution is used.
When leaving a bequest to the Foundation in a will you can allocate how or where you want that money to be spent. Health, Education, Rescue, or the General Fund. Because wills are fairly easy to update, donors can also keep their bequests up-to-date by checking in with the Foundation on where your donations will make the most impact.
3. Planned gifts can come with some tax breaks.
Depending on the type of planned gift you make, there can be some tax benefits. Bequests can reduce federal estate taxes for heirs, and these deductions aren’t limited to cash — they can include assets like real estate, IRAs, and stock as well. Some other planned gift types, such as charitable remainder trusts, are granted tax-exempt status by the IRS. However, tax advantages to planned gifts can be a little complicated, so you should be sure to enlist legal or financial advisory assistance in setting up your bequest.
Planned gifts can come in a variety of forms from simple bequests to complex trusts — all with different requirements and advantages depending on a donor’s circumstances. These should be discussed with your lawyer or investment advisor as laws vary over time at the Federal and State levels. However, for the sake of this discussion, planned gifts most commonly fall within a few categories: outright gifts of cash or non-cash assets, gifts that pay income, and more complex gifts that protect a donor’s assets. Thank you for your consideration and hopeful legacy gift. If you have any questions on where funding would be most useful, please get in touch with the Foundation Board.