For almost 70 years, Family Service has been dedicated to supporting Bucks County residents battle mental illness, substance use disorder, HIV and AIDs, homelessness and more. Listening, caring, and helping every day has been our mission. A planned gift can allow us to plan for the long-term survival and growth of the comprehensive network of services that Family Service has come to be renowned for and depended on to deliver to those in need in Bucks County.
What are Planned Giving and Estate Planning?
Planned giving is a type of charitable giving that enables you to express your personal values by integrating your family, financial, and charitable goals. Planned gifts can be made with cash, and by donating assets such as stocks, real estate, and IRA distributions, among other options.
Estate Planning involves things such as a bequest in your will, or naming Family Service as a beneficiary of your retirement plan, IRA, life insurance policy, or bank or brokerage account. After you have provided for your loved ones in your estate planning, we would be honored if you were to designate a contribution to Family Service. Your legacy donation can be tailored to your unique circumstances, while helping to ensure the future of Family Service for many years to come.
Please consider making a lasting difference for those in need of our services in Bucks County with a planned contribution to Family Service.
If you think you may be interested in making a planned gift or leaving Family Service in your estate plans, please contact Stephen Burns at 215-757-6916 ext. 223, or via email at email@example.com.
There are a number of financial vehicles available for planned and legacy giving, described briefly in the links below. Many options for planned gifts or estate plans are easy to set up. Some simply require a beneficiary designation form, for instance.
You will need the following information to designate Family Service as a beneficiary:
Legal name: Family Service Association of Bucks County
Address: 4 Cornerstone Dr., Langhorne, PA 19047
Tax ID: 23-1427224
The IRS recognizes Family Service Association of Bucks County as a tax-exempt, 501(c)(3) not-for-profit organization.
Please consult your financial adviser and a qualified estate planning attorney to determine the best way for you to make a planned gift to Family Service. These options can offer significant estate, gift, and income tax savings for you and your family.
If you own shares in a publicly traded company that have appreciated in value and that you are considering donating to Family Service, this approach can be more advantageous to you than selling the shares and donating cash proceeds. By donating stock directly to Family Service, you would be entitled to a charitable income tax deduction equal to the market value of the shares, and you would not incur capital gains tax on the appreciated value. For details on how to complete a stock transfer, click here, or call us at 215-757-6916 x223.
If you are 70½ or older, and therefore required to withdraw monies from your IRA every year, a provision allows you to redirect your IRA rollover to a charitable organization. You may roll over up to $100,000 per year from a traditional or Roth IRA. The donation must be made directly from the plan to Family Service, which can be accomplished by instructing your plan administrator to make a direct transfer to Family Service. The amount you choose to donate with this approach will be excluded from your gross income, and will count toward your minimum distribution requirement. There is no Federal income tax deduction allowed for an IRA rollover gift.
You can name Family Service as the designated beneficiary, or partial beneficiary, of a qualified retirement plan. This gifting opportunity involves obtaining a beneficiary designation form from the retirement plan administrator and naming Family Service as the entire, or partial, beneficiary of the retirement plan assets. This approach does not involve legal fees.
Similar to a retirement plan designation, the proposed gift to Family Service is accomplished by naming Family Service as a beneficiary, or partial beneficiary, of the policy on the beneficiary designation form. You will be entitled to a charitable income tax deduction equal to the cash surrender value of the property and any future premiums paid only if Family Service is named as the owner and beneficiary of the policy.
A bequest is a gift you leave through a will or trust, with a written statement directing that a specific dollar amount, or a percentage of the estate, or a specific item such as real estate, be transferred to Family Service. Because a bequest is revocable, you are able to keep your financial options open in your lifetime and maintain flexibility as to the use of your assets. Sample language for a charitable bequest can be found here.