Taxwise Estate and Life Income Gifts

Make a real difference for future generations that you will never meet. Help others as others have helped you and your peers. Discover ways to give you may not have thought possible, while enjoying increased income, tax savings and other benefits.

Possibilities include:

Gifts by Will or Trust

Consider including ASH in your will or trust. Gift ASH a percentage of your estate or specific gift amount if you prefer.

Suggested Wording

If you are considering including ASH in your will or estate, below is suggested language to bring to your attorney:

After fulfilling all other specific provisions, I give, devise and bequeath __% of the residue of my estate [or $___ if a specific amount] to the American Society of Hematology [tax ID # 23-7080568], a District of Columbia charitable corporation presently having offices at 2021 L Street NW, Washington, DC 20036.

Special Charitable Trusts

Consider a special kind of charitable trust called a charitable remainder trust that will provide a significant tax deduction today, while providing fixed or growing income for you and a loved one. This can be for life or a period of time and can be done now or in your will or testamentary trust to provide for surviving loved ones later on.

Name ASH a Beneficiary of Your IRA or Retirement Account: A Very Tax-wise Approach

For those making any charitable gifts in their estate plans, this is often considered the very best tax-smart asset to give to charity. Depending on circumstances, over 70% of retirement plan assets may be lost to state and federal income and estate taxes.

Naming ASH as a beneficiary of your IRA or other retirement account will avoid all income taxes that most heirs would be required to pay in addition to eliminating estate taxes. You can accomplish this while making a real difference.

With the recent passage of the SECURE Act, most non-charitable heirs may be required to pay substantial federal and possibly state income taxes when they are forced to withdraw these funds within 10 years—potentially pushing heirs into a higher tax bracket. The old rules allowed heirs to withdraw funds over their life expectancy, but this is no longer the case.

The only exceptions to this rule are spouse, minor children, disabled individuals and those born within 10 years of the deceased. Children and grandchildren must withdraw and pay taxes on all funds within 10 years. Talk with your advisor or call ASH to learn more.

Gifts from Your IRA—Another tax-smart way to give

Donors who have reached age 70½ are eligible to make a charitable gift to ASH directly from their IRA, up to $105,000 per year. Gifts from your IRA to ASH count against your Required Minimum Distribution (RMD). IRA gifts are also called QCDs or Qualified Charitable Distributions. Many financial planners recommend making charitable gifts directly from an IRA. This form of giving is often considered the best tax-smart way to give.

Name ASH the Beneficiary of your Securities or Bank Account

It is easy and simple to make ASH the beneficiary of any of your bank, brokerage, or other securities accounts. This can be accomplished by filling out a simple form at your bank or with your securities dealer. You continue to have full control over these accounts and the funds, but it is an easy and simple way to make a gift while avoiding legal and probate costs when probating your estate.

Life Insurance

If you have an insurance policy that is no longer needed, you can name ASH as the beneficiary. In particular, consider a gift of a policy that was originally bought for a purpose that no longer exits. Gift the policy outright to get an immediate charitable tax deduction.

Honor or Memorialize Someone Special

Add meaning to your gift by designating it to honor or memorialize someone special to you.