Planned Giving with the Li-Fraumeni Syndrome Association
Most people make charitable gifts at the end of the year, and do so without much planning. You can simply send in a check to us at:
P.O. Box 6458
Holliston, MA, 01746
for the tax deduction, or you can donate here via credit card.
This year, you might consider how the following strategies might benefit you as you plan your support for our mission.
Estimate your income and tax liability before December 31. A donation to the LFSA before the end of the year can be deducted in the next income tax return that you file.
You can also consider using non-cash assets, such as any stocks you have held for more than a year. It may be wiser to make a gift using securities that have sizable appreciation instead of cash. You may receive an income tax deduction for the value of the stock shares and avoid capital gain tax when the stock is sold.
If you are over 70 ½ years of age, consider making a direct transfer from an IRA or SEPIRA to LFSA. The transfer counts toward the annual minimum distribution requirement and avoids income tax.
If you opt to donate via credit card here, consider making a “recurring” donation in any amount you wish, and you can give monthly, quarterly, or annually, automatically.
Gifts that Provide an Income
Among the most versatile and economical assets to donate are appreciated securities. They can be used to fund charitable trusts or gift annuities, such as charitable remainder trusts, charitable lead trusts, as well as deferred charitable gift annuities. These can provide you, your spouse, or other beneficiaries annual income for life.
A gift of real estate can often be an attractive way to make a substantial contribution to the LFSA while simultaneously realizing significant tax and income benefits. Such donations can include a personal residence, vacation or commercial property, or land, if the real estate has significant long-term appreciation and can be easily sold by the LFSA. Donating real estate directly to the LFSA may allow a full, fair-market value deduction.
Legacy and Estate Planning
Another option in charitable giving that costs you nothing now, is to include the LFSA in your estate planning. By endowing to the LFSA in your will or trust, or by beneficiary designation in your retirement and savings accounts or insurance policies, you maintain your assets for as long as you need them.
Though it is not necessary to notify us when you designate the LFSA as a beneficiary in any of your giving plans, you may have personal reasons to let us know of your intentions of endowment. Feel free to contact us via email at info@LFSAssociation.org, or call 855-239-LFSA (5372).
Any which way you decide to give, your gift does make a difference in LFS cancer research and in the lives of the children and families living with LFS.
The information above is not intended as legal advice. Before making such a charitable contribution, seek the advice of your financial advisor, accountant, and/or estate planner to maximize benefits for yourself, and the LFSA.