“If you have philanthropic intentions, there can be tax advantages to a charitable gift in your estate plan.”
- Dave Beringer, CPA Martin Werbelow LLC
Planned Giving
Estate planners, financial planners and other professional advisors are often faced with a delicate dilemma: You want to discuss the many benefits of charitable giving with your clients, but you want to avoid recommending specific charitable causes or organizations. The Pasadena Community Foundation provides a simple solution. A community foundation is a single trusted vehicle your clients can use to address the issues they care about most while gaining maximum tax benefit under state and federal law.Outright Gifts:
Gifts of cash, stocks, real estate or other assets can be used
to set up a Donor Advised Fund or just to make an outright gift
to the
Pasadena Community Foundation to support grants to over 200 non-profit
agencies in the community.
Bequests:
Designate a portion of an estate. A bequest to the Pasadena Community
Foundation is as simple as adding a codicil to your will. This is
the most common planned gift and it may provide your clients with
valuable estate tax savings.
The following language would be appropriate for a bequest:
"I give and bequeath__________(percentage or stated dollar amount) of my estate (as that term is defined in the federal estate tax laws) to (your Fund's name) of The Pasadena Community Foundation subject to its governing instruments, policies and procedures, as amended from time to time. I request the Pasadena Community Foundation to use so much of the eligible earnings of the property for __________________(Greatest needs, field of interest i.e., educational, medical, youth, art, scholarships etc.; or for specified charitable organizations.)"
All gifts to Pasadena Community Foundation are tax deductible. Tax ID # 20-0253310.
For more information about our Legacy Society, click here