Legacy and Charitable Gifting


The Legacy Charitable Gifting programs of the Raleigh County Commission on Aging, Inc. allow seniors, their families, and community members the opportunity to support the programs, services, and mission of the agency. Donors who pledge their support have the opportunity to provide a gift to the agency during their lifetime, known as a Charitable Gift; or after their life time, known as a legacy gift such as a bequest (remembering the RCCOA in your will). Through this program, donors will have the satisfaction of knowing that their gifts will help make a positive difference in the lives of seniors for generations to come. When they are ready to participate, we want to be able to offer your children, and even your grandchildren, the same services and programs that you have enjoyed.

One common myth is that the only way to support the Raleigh County Commission on Aging is by writing a check or providing a cash donation. While we do accept these types of gifts, there are many other types of asset gifts donors can contribute. Gifts commonly include real estate, homes, life insurance policies, and even cars. Your individual financial goals and personal values will help determine the most appropriate asset to contribute.

A primary question to consider first is, have you made out a will?
If you have not, or it is time to update your will, regardless of your charitable intent, please consider this:

 If your goal is to:
 Then you can:
Your benefits may include:
 Make a quick easy gift Simply write a check now, or make a planned
gift of money throughout a specified time period
An income tax deduction and immediate positive
impact to the RCCOA
Avoid capital gains tax   Contribute long term appreciated stock or
other securities 
A charitable deduction plus no capital gains tax 
Defer a gift until after your lifetime  Put a bequest in your will (donating cash, property, or a share of the residue of your estate to the RCCOA)  Your donations are fully exempt from federal estate tax 
Receive guaranteed fixed income that is partially tax free  Create a charitable gift annuity  Current and future savings on income taxes, plus fixed, stable payments 
Avoid capital gains tax on the sale of a home or other real estate  Donate the real estate to us, or sell it to us at a bargain price  An income tax reduction, plus reduction or elimination of capital gains tax 
Give your personal residence or farm, but retain lifetime use  Create a charitable gift of future interest, called a retained life estate  It gives you tax advantages plus use of the property 
Make a large gift with little cost to you  Contribute a life insurance policy that you no longer need  Current and possible future income tax deductions 
Secure, fixed payments for life while avoiding market risks  Create a charitable remainder annuity trust  It gives you tax benefits and often boosts your rate of return 
Give income from an asset for a period of years but retain the asset for yourself or your heirs  Create a charitable lead trust  Assets is returned to the donor or heirs with federal estate tax savings and income tax deductions for income donated 
Create a hedge against inflation over the long term  Create a charitable remainder unitrust  Variable payments for life plus tax benefits 
Make a revocable gift during your lifetime  Name us as the beneficiary of assets in a living trust  Full control of the trust terms for your lifetime 
Avoid the twofold taxation on IRA or other employee benefit plans  Name us as the beneficiary of the remainder of the retirement assets after your lifetime  Lets you leave your family other assets that carry less tax liability 

Support through these programs also offers you and your family tax relief. By providing a Charitable Gift during your lifetime, you can receive immediate tax relief. If you chose to contribute a Legacy, then your heirs will be better able to utilize their inheritance with fewer concerns for estate tax and time spent in probate court. Your personal and family financial and gifting goals will help determine a gifting option that is right for you.

If you have any questions please call Ellen Sawyers at (304) 255-1397 ext. 102

Ellen Sawyers