Make a Lasting Impact: Planned Giving Essentials

Securing Your Legacy: Make a Lasting Impact Through Estate Planning and Sleep in Heavenly Peace

Creating a lasting legacy is a thoughtful act of love and care. By carefully planning your estate, you ensure your loved ones are protected, your wishes are honored, and your values live on. Explore the following steps in the creation of a comprehensive estate plan and the benefits of incorporating planned giving into your strategy.

Why is Estate Planning Important?

An estate plan provides peace of mind, protection, and provision for both you and your loved ones. It outlines your wishes for your assets, healthcare, and guardianship, ensuring a smooth transition during challenging times.

Benefits of an Estate Plan:

Peace of Mind: Knowing your affairs are in order reduces stress for you and your family.
Protection: Safeguards your assets and ensures your healthcare wishes are followed.
Provision: Determines how your assets will be distributed, minimizing potential disputes.

Four Essential Steps to Create Your Estate Plan

Gather Information: Compile a detailed list of your assets, debts, beneficiaries, and healthcare preferences.
Consult an Attorney: Seek expert guidance from an estate planning attorney to create legal documents tailored to your needs.
Understand Your Plan: Review your estate plan with your attorney to ensure it aligns with your goals.
Sign and Store Documents: Properly execute and securely store your estate planning documents.

Key Estate Planning Documents

Last Will and Testament: Outlines how your assets will be distributed after your death.
Healthcare Directives: Specifies your healthcare preferences in case of incapacity.
Durable Power of Attorney for Finances: Appoints someone to manage your financial affairs if you’re unable.

Enhancing Your Plan with Planned Giving

Planned giving allows you to support causes you care about while maximizing tax benefits and creating a lasting impact.

Living Trust: Protects assets from probate and provides flexibility in managing your estate.
Charitable Remainder Trusts (CRTs): Generate income for yourself or loved ones while supporting a charity.
Charitable Gift Annuities: Provide a steady income stream for life in exchange for a charitable gift.
Donor Advised Funds (DAFs): Offer tax benefits and control over charitable giving.

Sleep in Heavenly Peace is a remarkable organization that provides beds to children in need. By supporting Sleep in Heavenly Peace, you’re not just providing a bed; you’re investing in the future of a child, their family, and their community. Your generosity can help break the cycle of poverty and ensure that every child has a safe and comfortable place to sleep.

“I just want to say what a blessing y’all are to our family! We are overwhelmed with gratitude for the amazing beds AND bedding for my kids! We have been out of our house for 19 months and counting now, due to a fire, and for my kiddos to see their OWN beds was so happy for them!! Y’all do amazing work and I wanted to let you hear that!”

Mother of Bed Recipients

The Power of Gifting Stocks to NPOs

Gifting stocks or securities to a non-profit organization (NPO) can be a highly effective and strategic way to support charitable causes while maximizing tax benefits. Here’s why:

Tax Advantages

Fair Market Value Deduction: When you donate appreciated securities, you can deduct the fair market value of the stock on the date of the gift. This typically offers a greater tax benefit than donating cash.
Avoid Capital Gains Tax: By gifting appreciated securities, you avoid paying capital gains tax on the difference between the purchase price and the current market value.
Qualified Charitable Distributions (QCDs): If you’re over 70½, you can make a QCD directly from your IRA to a qualified charity, avoiding income tax on the distribution. This is a great way to meet required minimum distributions (RMDs) while supporting your favorite causes.

Additional Benefits

Targeted Support: Gifting stocks allows you to directly support an NPO’s specific programs or projects.
Long-Term Impact: Your donation can provide ongoing support through dividends or investment growth.
Recognition: Many NPOs offer recognition opportunities for major donors, such as naming rights or public acknowledgment.

Important Considerations

Consult with a Tax Professional: Before making a gift, consult with a tax advisor to understand the specific tax implications and potential benefits.
Donor-Advised Funds (DAFs): Consider using a DAF to simplify your charitable giving and potentially gain additional tax benefits.
NPO’s Policies: Ensure the NPO accepts stock donations and has procedures in place for transferring and managing securities.

By gifting stocks to an NPO like Sleep in Heavenly Peace, you can make a significant impact while maximizing your charitable giving and enjoying substantial tax advantages.

Sleep in Heavenly Peace has an easy step by step platform to guide you through any of these Planned Giving options. Click here to learn more and complete your gift.

“Building beds alongside others has been incredibly rewarding. Delivering them and witnessing the joy they bring to children, teens, and adults has enriched my life. This is a truly worthwhile cause that thrives on volunteers, donations, and the power of a smile.”

SHP Volunteer

Take the Next Step

Creating an estate plan is a crucial step in securing your family’s future and supporting causes you believe in. By working with an attorney and exploring planned giving options, you can create a legacy that reflects your values and makes a positive impact.

Contact Mark Conner at Mark.Conner@shpbeds.org to learn more about making a planned gift with Sleep in Heavenly Peace.

Maximizing Your Gift

Sleep in Heavenly Peace has achieved an impressive 95% program expense ratio, surpassing the industry standard of 75% for a “highly efficient” charity as defined by CharityWatch.

SHP is proud to allocate 95 cents of every dollar to our mission, ensuring maximum impact for the children we serve. This exceptional performance is evidence of our commitment to our mission of providing beds to children in need.

Our dedication to transparency and accountability is further evidenced by a consistent achievement of the Platinum Seal of Transparency from Candid/GuideStar, the highest level of recognition for nonprofits.

By effectively allocating resources and maintaining a strong focus on our core purpose, we have solidified our position as a leader in the nonprofit sector, and an organization you can trust with ensuring your charitable gift makes a long-lasting impact in children’s lives.

“SHP blesses a lot of people. I am one of the families they helped. I couldn’t afford a bed and they were sent to us by a blessing. We are grateful to share our testimony about the beds that children need. May they continue to be able to bless and help more children and families. From our family to yours we want to say thanks again.”

Father of Bed Recipients

Disclaimer: This blog post is intended for informational purposes only and does not constitute legal or financial advice. Consult with an attorney or financial advisor to address your specific needs.