Charitable gifts can benefit you and the Ukrainian National Foundation

There can be no denying that the state of the economy has made everyone more cautious than usual when it comes to spending. At the same time, though, December remains a traditional time for giving, both personal and charitable. Carefully planned charitable donations, made by December 31, can result in tax savings to you. And it’s important remember that when you make a charitable gift to the Ukrainian National Foundation or another qualified non-profit organization, you aren’t just giving money away – you are furthering the mission of the institution and playing a real role in its good works. In the case of the UNF, you are helping us continue to build educational and cultural bridges between the United States and Ukraine, and helping us preserve our unique Ukrainian culture.

There are many ways to remember the UNF for planned giving in your estate plans, and you may be surprised to discover how inexpensive its is to accomplish most of these. Here are seven options to consider:

1. Amend an existing insurance policy to add the foundation as an additional beneficiary. You could also purchase a new policy for the foundation’s benefit.

2. Visit your personnel office and ask to amend your group life insurance policy or retirement plan to add the foundation as one of your beneficiaries.

3. Instruct your lawyer to prepare a simple, inexpensive codicil to your existing will, creating a bequest for the foundation.

4. If you are over 65 and disappointed with the income you are receiving from your long-term stocks or your certificates of deposit, consider the foundation’s charitable gift annuity program. Besides providing attractive tax benefits, this easy-to-accomplish gift may reward you with higher annual income.

5. Deed your house to the foundation and continue to live in it. The income tax savings from your gift may cover the legal costs.

6. Leave written or verbal instructions for your surviving spouse to include the foundation when redrawing his or her will.

7. If you have a sizable estate, let us show you how a charitable trust may benefit both you and the foundation. Again, the tax advantages are significant and may offset any legal costs.

Some of these gift arrangements are revocable, while others cannot be changed once established. Some work better with cash and others with appreciated assets. There are many variations – enough so that a giving plan can be tailored to your needs, desires and capabilities.

For your protection, we will urge you to check with your professional advisor(s) before completing any planned gift. We are also available to meet with your advisor(s) to assist in the process.

You can contact Roma Lisovich at 973-292-9800 or via e-mail at una@unamember.com. Thank you.