There are many ways to structure your gift. Some options have great tax benefits; others even pay income to you and your loved ones. You can give now, or give later.
Whatever your needs, there is a charitable giving solution that’s right for you. The Foundation’s skilled staff is here to help you create the best gift structure for your philanthropic plan.
Gift Structure Options
Naming the Hartford Foundation in your will or trust is a popular way to support the community and carry out your charitable interests. A bequest can be designed to establish or add to an endowment fund, and can designate a specific amount or percentage of your estate. Bequests are revocable if circumstances change.
Retirement plan assets are ideal to give to charities when you are gone because they are so heavily taxed if left to heirs. By naming the Foundation as a remainder beneficiary of these assets, you can leave a very efficient legacy.
Charitable Remainder Trusts
Create a charitable remainder trust, and you and a spouse or loved one* will receive income payments for life, or a specific number of years. Remaining assets go to your Foundation fund to benefit area nonprofits forever. Tax benefits include an immediate income tax deduction and removal of the asset from your estate.
Charitable Gift Annuities
Give a gift of $10,000 or more, and increase your income while leaving a gift to the Foundation. You (and a spouse or loved one*) will receive income for life, based on your ages at the time of the gift, or you can choose to defer payments to a later time such as retirement. Tax advantages include:
- An immediate income-tax deduction
- Potentially beneficial treatment of the annuity payments
Charitable Lead Trusts
Support area nonprofits now and your family later with a charitable lead trust. Your trust pays income to your Foundation fund for a period of years and then passes the assets, often appreciated, to your children or grandchildren with minimal or no gift or estate taxes.
*Please consult your tax advisor for tax implications of different beneficiary choices.