The rewards of creative giving

As we continue to look for how to help in Nebraska with those who have vision loss, we know that your generosity helps us succeed. That is why we appreciate your support. We also want you to benefit from your gifts. Did you know you can add Outlook Enrichment as a partial, contingent or full beneficiary to your life insurance or 401(k)? There are many creative ways for you to give to Outlook Enrichment. 

Through creative gift planning, you can secure your own financial future, as well as ours. We always recommend you meet with an attorney or tax professional who specializes in estate planning to help you with these gifts. We can work with your advisors to help you plan for tomorrow and receive maximum benefits today. 

Some possible gift benefits are:

  • Receive a tax deduction.
  • Eliminate long-term capital gains.
  • Increase income and effective rate of return.
  • Reduce estate and gift taxes.

Let’s explore some of the different options and design a plan to fit your needs.

A current will or trust

A bequest from either a will or living trust allows you to pass any amount you wish to Outlook Enrichment, free of estate tax. You can give cash, specific property or a percentage of your estate, with or without restrictions. Some of the benefits you will receive are:

  • Distribution of your assets according to your wishes
  • Leaving a legacy without giving up assets today
  • Saving on estate taxes with proper planning
  • Providing for your family after your death

Your retirement assets

Most retirement plan assets face double taxation – estate and income tax. If you are able to make other arrangements for your family, you can name Outlook Enrichment as your partial, contingent or full beneficiary. Assets in these accounts will pass to Outlook Enrichment without any tax obligation. The value of this gift also qualifies for an estate tax charitable deduction. 

Life insurance

If you have a life insurance policy that you no longer need to support a spouse, partner or other family members, you can name Outlook Enrichment as the beneficiary. This lets you retain ownership of the policy. While there are no current tax benefits to this approach, the value of the policy will be removed from your estate for tax purposes.

You can also make Outlook Enrichment the owner and beneficiary of an existing policy. Instead of just naming us as the beneficiary, you will transfer full ownership of the policy to Outlook Enrichment. In addition to removing the value of the policy from your estate, you will also receive a charitable income tax deduction.

A third option when wondering how to help in Nebraska is to help Outlook Enrichment purchase a new life insurance policy on your life. You will be able to give a substantial future gift to us at a relatively low cost to you. Outlook Enrichment would be both the policy owner and beneficiary.

Retained life estate

Through a retained life estate, you transfer ownership of your home or farm to Outlook Enrichment, while retaining the right to live on the property. You receive an income tax deduction in the year of the gift, based on your age and the value of the property. You will also reduce the size of your estate and simplify the estate process for your executors. They will be relieved of any costs, expenses and delays involved in the transfer or sale of real property.

Charitable trusts

A charitable trust is a set of assets that a donor signs over or is used to create a charitable foundation. The assets are held and managed by the charity. There are several types of charitable trusts. It is best to work with a professional to establish your charitable trust.

As you can see, there are many ways you can get creative when giving a gift to Outlook Enrichment if you are wondering how to help in Nebraska. Many of these creative options provide you with tax benefits now, and at your death, to your estate. Outlook Enrichment will work with your advisors to give you more flexibility when planning your gift. We are appreciative of all you do for us and welcome you to support us in whichever manner you choose.

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