Many people think their ability to give is limited to what they see in their checking account. In reality, experts estimate that nearly 90% of a person’s wealth is typically held in non-cash assets.
That means you may have resources you don’t use regularly, or even need, that could make a meaningful difference for a not-for-profit like Arbor Hospice. Assets such as a Charitable Gift Annuity (CGA), IRA, or qualified retirement plan such as a 401(k) or 403(b) can be powerful ways to create a lasting legacy that supports end-of-life care for generations to come.
Here are three reasons retirement assets can open the door to a whole new way of giving non-cash gifts:
- Decrease your tax burden. When you name a charitable organization as the next owner of your assets, they can pass directly to the not-for-profit from your estate, minimizing the tax responsibility for your heirs.
- Meet requirements. Qualified Charitable Distributions (QCDs) can count toward satisfying required minimum distributions from an IRA in the same year.
- Increase your impact. A Charitable Gift Annuity provides you guaranteed income during retirement while benefiting a cause you care about upon your death.
What you see in your bank statement is only the beginning of your potential for generosity. Your gift of retirement assets can create a deeper, lasting impact for the patients and families who need Arbor Hospice’s care.
To learn more, visit our Legacy Giving page or contact Barbara Anderson at banderso@arborhospice.org