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Some People's Legacies are Engraved on Monuments .....
Yours can be Written on Lives.
- To learn more about creating your personal legacy,
please click on the video link below.
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A LADDER UP
"I never thought I'd have to ask for help. I had my own business and was able to provide. The Salvation Army has helped me to get to the treatments I need - I just want to get well enough to get back to work."
- David H.
When David H., who ran a successful painting business and owned a home, was diagnosed with cancer, his world fell apart. Surgery and the necessary follow-up treatments left him unable to work. For a while he kept up with his bills by selling his possessions, eventually giving up even the ladders that he need-ed for his job. But when these resources were exhausted, David could no longer meet his car or mortgage payments.
It was this critical situation that brought David to The Salvation Army. There, a social worker arranged for him to receive bus tokens for trips to his necessary medical appointments. With counseling and follow-up by Army staffers, David's basic living needs are being supplied so that he can concentrate on his goal of regaining his health and getting back to work. He is grateful for support from The Salvation Army to help regain his self-sufficiency.
Many people are just one ill-ness or accident or personal crisis away from financial disaster. Many others struggle with ongo-ing poverty, homelessness, mental illness or addiction. In winter-time and during the holidays, more people typically turn to us for help, but emergencies know no season, so our doors are open year-round to provide services such as personal emergency assis-tance like rent, food or clothing, and counseling.
IRA Rollover Passes for 2010 and 2011!
On December 17, 2010, the President signed into law The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This bill restores the IRA Charitable Rollover for 2010 and permits its use in all of 2011. The act is retroactive to January 1, 2010, so donors who previously made 2010 IRA rollovers will qualify.
The principal rules for direct transfers from an IRA to a qualified public charity are that the IRA owner must be 70-1/2 or older and that the transfer is for no more than $100,000 each year. A 2010 transfer qualifies for the required minimum distribution. It must be to a public charity either outright or for a specific purpose, but may not be to a donor advised fund or supporting organization. The transfer is made directly from a trustee to the charitable organization.
A very important potential 2011 benefit exists. Because Congress recognized that it is very late in the year, individuals who choose to make a qualified charitable contribution (QCD) rollover from their IRA trustee to a charity may make their 2011 charitable gift any time during this calendar year. For a sample letter to send to your IRA trustee, please click here.
Temporary Estate Tax Relief
On December 17, 2010, the President
signed into law The Tax Relief, Unemployment Insurance Reauthorization, and Job
Creation Act of 2010. The estate tax section of the bill carries the title
"Temporary Estate Tax Relief" and includes Sections 301, 302, 303 and 304. Most
gift, estate and GST tax provisions will apply during 2011 and 2012. To read more about this, please click on the link above.
The Salvation Army's Planned Gifts Program offers a complete selection of alternatives as a means of reducing taxes, increasing income, and fulfilling your charitable goals.
We look forward to working with you to help determine the one most appropriate for you.
Through a BEQUEST in your Will, you can help ensure the work of The Salvation Army will continue to meet the needs of those in the Southern New England area.
If you are over 55, and seeking a safe and secure investment for cash or stocks worth $5,000+, and desire income for the rest or your life, CHARITABLE GIFT ANNUITIES are a great vehicle for you.
If you are planning for retirement, and you want to have assured, high yield income after you stop working, a DEFERRED-PAYMENT CHARITABLE GIFT ANNUITY may be perfect for you.
If you have over $100,000 to invest, and you want to help direct the way it is invested, a CHARITABLE REMAINDER TRUST is the way to go.
If you are in high-earning, high-tax years, are seeking a tax-wise means of passing principal on to your heirs, while still providing a charitable intent, a CHARITABLE LEAD TRUST, is very effective.
An alternative to a Bequest is a BENEFICIARY DESIGNATION of your bank account(s), Life Insurance Policies or Retirement Accounts.
Still Not sure which one is right for you?? View the GIFT COMPARISON CHART, or call Michael Afflitto for additional information.
Michael Afflitto
Director of Planned Giving
Southern New England Division
855 Asylum Avenue
Hartford, CT 06105
Toll Free: 1-888-468-5356
Tel: 860-702-0070