Gifts Everyone Can Afford

Gifts Everyone Can Afford

Support the association without affecting your current lifestyle or your family's security.


Will or Trust

About This Gift

Your will gives you peace of mind knowing that loved ones are taken care of, your assets are distributed accurately, and that your gift to the association reflects your personal values. Gifts to charitable organizations are excluded from estate tax.

How It Works

  1. You can provide now for a future gift to the American Heart Association or American Stroke Association by including a bequest provision in your will or revocable trust.
  2. Your will or trust directs assets to your heirs.
  3. Your will or trust directs a bequest to the American Heart Association or American Stroke Association for the purpose(s) you specify.

Benefits

  • Your assets remain in your control during your lifetime.
  • You can modify your bequest if your circumstances change.
  • You can direct your bequest to a particular purpose (be sure to check with a Charitable Estate Planning Representative to make sure your gift can be used as intended).
  • There is no upper-limit on the estate tax deductions that can be taken for charitable bequests.
  • You can have the satisfaction now of knowing that your bequest will support the association in the way you intended.
Will or Trust - 1. Revocable Bequest Intention 2. Inheritance Transfers 3. Gift Transfers

Retirement Plan Assets

About This Gift

It is important to review retirement accounts, such as IRAs, 401(k)s, 304(b)s, or other retirement plans periodically. Due to high tax rates, many supporters have found that it makes financial sense to allocate the residual amount of their retirement savings to the association. The association does not pay tax on these gifts, and can put every dollar of your gift to work in the fight against heart diseases and stroke.

How It Works

  1. You name the American Heart Association or American Stroke Association as the sole or partial beneficiary of your IRA, 401(k), or other qualified plan using the beneficiary designation form provided by your financial institution.
  2. You continue to make withdrawals from your account during your lifetime. Any residual left in your account after passing will flow to the association tax-free according to your allocation on your beneficiary designation form.
  3. Donors age 70 ½ and older may direct lifetime distributions from their IRAs to the American Heart Association or American Stroke Association. This distribution will count toward your required minimum distribution, and will not be included in your taxable income. You can make contributions totaling up to $100,000 to the association and other charities annually.

Benefits

  • You can escape both income AND estate tax levied on the residual left in your retirement account by leaving a gift to the association because we are a non-profit organization and do not pay taxes on the transfer. These taxes can eat up the principal of your account when transferred to your heirs.
  • You can continue to take withdrawals during your lifetime.
  • You can designate all or a percentage of your account, and can change your beneficiaries at any time. There is no charge to update your beneficiary form.
Retirement Plan - 1. Directs Distribution 2. Makes Payment

Stocks, Bonds, Mutual Funds

About This Gift

You have worked hard all of your life to grow your investments. There are many ways to make your investments work for you. Maximize your monetary gain by funding a charitable gift with donated appreciated stock, mutual funds, or bonds. This is a tax savvy way to help benefit the world in future years to come.

How It Works

  1. You transfer securities to the association.
  2. The association sells your securities and uses the proceeds for important programs such as research, quality care, community outreach, educating the world, and our reach expands every day.

Benefits

  • You receive an immediate tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them.
  • You pay no capital gains tax on the securities you donate.
  • You can direct your gift to a specific fund or purpose.
Stock Market - 1. Gift of Securities Income Tax Deduction 2. American Heart Association and Stroke Association Sells Securities

Life Insurance

About This Gift

You can use a life insurance policy that is no longer needed to show your support in our fight against heart disease and stroke. If you want to keep your current policy but make a future gift, you can leverage your policy by simply naming the association as a beneficiary of your policy.

How It Works

  1. You transfer ownership of a paid-up life insurance policy to the association.
  2. The association elects to cash in the policy now or to keep the policy and receive the life benefits later.

Benefits

  • You receive an immediate income tax deduction for the cash value of the policy.
  • In some cases, you can use the cash value in your policy to fund a gift that pays you income.
  • You have the satisfaction of making a significant gift now to the association without adversely affecting your cash flow.
Insurance Company - 1. Gift of Insurance Income Tax Deduction 2. American Heart Association and Stroke Association Cashes In or Keeps

Real Estate

About This Gift

You can give a gift of your vacation home, commercial property, or undeveloped land to the association. These properties can be donated towards our cause as an outright gift or can be used to fund a gift that pays you a lifetime of income.

How It Works

  1. You will need to obtain a philanthropy title report and an independent review.
  2. Our advisors will inspect the property and complete an environmental checklist.
  3. The IRS requires an independent appraisal to establish the fair market value of the property. We can assist you in following the IRS procedures.

Benefits

  • You may apply the deduction for up to 30 percent of your adjusted gross income, and carry it forward for up to five additional years.
  • You are freed from paying real estate taxes, maintenance costs, insurance, and capital gains taxes on the property’s appreciation.
  • You also remove the asset from your taxable estate.
  • To review your gift possibility and evaluate the condition and marketability of the property contact a Charitable Estate Planning Representative.

Wills, Trusts, and Annuities

Have Questions?

Contact your Charitable Estate Planning Representative to discuss your options.


 LOCAL CONTACT


 

American Heart Association’s
Tax Identification Number

13-5613797
 

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Estate Plan?

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