Gifts of life insurance can be made by naming Moravian Manor Communities beneficiary, contingent beneficiary, or transferring ownership of a policy to Moravian Manor Communities. In the latter case, you receive an income tax deduction for the cash surrender value and subsequent premiums.

Consider gifting retirement assets by designating Moravian Manor Communities as beneficiary of your retirement account. If you have not yet taken your required minimum distribution (RMD) from your traditional IRA, you may want to consider a qualified charitable distribution (QCD) as a way to support the good works of Moravian Manor Communities while at the same time reducing your taxes. If you are over 70½, you may make a QCD which allows you to distribute your RMD – or any amount up to $105,000 per year – to a charitable organization or multiple organizations and exclude this distribution from your taxable income. For income tax purposes, making a QCD with your RMD is a powerful planning tool because it allows you to reduce your taxable income and take the full standard deduction (if you are not otherwise itemizing your deductions).

Charitable beneficiary designations of your retirement accounts can also be a part of your estate planning. If you expect your estate to be subject to the federal estate tax, you may wish to consider designating Moravian Manor Communities as a beneficiary of your retirement account. The value of the so-designated accounts will be a deduction in the calculation of your taxable estate, thus reducing the amount of estate tax if your estate is subject to federal estate tax. Additionally, distributions from the retirement account to your chosen charity will not result in income tax when the beneficiary is a charity. Please consult your estate planning team to fully evaluate this option.

Charitable Gift Annuities (CGAs) are a popular choice among donors. When you make a gift in the form of a CGA, you are guaranteed an annual income for life for you and/or for another person. Additionally, you receive a substantial income tax deduction in the year the gift is made, and a portion of the annual income you receive is tax-free.

Charitable Remainder Trusts and Charitable Lead Trusts can be established to benefit the donor, heirs, and Moravian Manor Communities. We are available to assist you and your financial planner in your gift planning.