Planned gifts can be an important part of your fundraising. To help organizations understand planned giving we have begun posting recent PowerPoint presentations to our website. We gave two presentations earlier this month. One was on gifts of tangible personal property (before the Chicago Council on Planned Giving) and the other was a more detailed explanation of the Secure Act. Here is a quick summary of each:
Gifts of tangible personal property. Tangible personal property can make an excellent planned gift, but it does not get much discussion. You need to be familiar with various types of planned gifts, appraisal requirements, and the related use rule. We cover all this and more in our PowerPoint presentation.
If you have not considered tangible personal property as a planned giving option, the presentation will also go through advantages and disadvantages.
Secure Act – the Secure Act, which was effective on January 1, 2020, made major changes to retirement plan distribution rules. For many account owners, it shortened the distribution period for their children to just 10 years, which means the children could pay substantially more in income taxes. We review the rules and provide examples and solutions to help reduce the increased income taxes.
The new rules can provide additional incentives to leave retirement plans to charity.
You can access both resources here. https://www.provenzalaw.com/resources/presentations/.