Show Your Love For Animals with this Planned Giving Strategy
Turn your love of animals into a legacy of supporting them! You can make a generous gift to help SPCA Tampa Bay without spending a dime today.
By naming SPCA Tampa Bay as a beneficiary of a life insurance policy or a retirement account, you plan a gift that will help the animals for decades to come. In both cases, you can decide whether all or a portion of the balance in the account comes to SPCA Tampa Bay as a charitable contribution after your death.
Designating SPCA Tampa Bay as a beneficiary of a life insurance policy or retirement account can allow you to make a more meaningful gift to a mission that matters to you. It’s a gift that will be free of any taxes on your estate, plus it preserves other assets in your estate to support the loved ones you leave behind.
If you’re 70 ½ or older, you can even consider setting up a gift to help the animals TODAY from your traditional retirement account! You can make an immediate tax-free gift – also called a qualified charitable distribution (QCD) – that may satisfy your required minimum distribution and prevent you from having to pay income tax on money withdrawn from your retirement account.
That’s how Maggie’s moms, Angela and Judy, choose to support us now that they’re eligible. They made monthly donations until last year, when Judy became eligible to take a qualified, tax-free charitable distribution from her retirement account. That’s allowed them to make a larger lump sum donation toward the end of the year, while they continue to support us with occasional gifts throughout the year as special stories touch their hearts.
“We love supporting your efforts to help and rehabilitate animals. We’re animal lovers… we’ve always loved animals and we like to pay it forward.”
And their sweet, 16 year-old Schnauzer Maggie definitely gives that plan her paw of approval.
Your attorney or financial advisor can help you understand if this type of giving is right for you and how to set it up.