Maximize your philanthropic goals
Whether you are thinking about legacy giving for the first time, or want to revisit your current plan, the Brookline Community Foundation is a trusted partner to ensure your legacy carries out your vision for the future. There are many ways for you to plan now for a gift later.
A planned gift to the Brookline Community Foundation is a simple way to make a tremendous impact. It may enable you to give a bigger gift than you ever thought possible. There are many ways for you to plan now for a gift later.
Including the Foundation in your estate plan is an easy way for you to make a significant impact on community needs and create a legacy that lasts forever. You can use a variety of assets to make a planned gift and accomplish your charitable goals.
As an alternative to amending your current will, consider naming the Brookline Community Foundation a beneficiary of your retirement plan. Simply contact your plan administrator for a change of beneficiary form, and designate the Foundation for a percentage of the assets, which remain in the plan at your death.
When you name the Brookline Community Foundation as the owner and beneficiary of an existing or new life insurance policy, you receive an immediate tax deduction that usually approximates the cash surrender value of the policy. All premium payments made thereafter are deductible as a charitable contribution.
Gifts that Provide Income
Charitable Gift Annuity
Establishing a Charitable Gift Annuity allows you and/or your beneficiaries to receive guaranteed income for life, benefit from an immediate income tax deduction, and leave a legacy that will support the causes you care about. Payments are based on your age, and you may choose to defer receiving annuity payments.
After your death the remainder of the gift may be used to establish a named charitable fund or be added to an existing fund.
Charitable Remainder Trust
A Charitable Remainder Trust (CRT) allows you or your beneficiaries to receive income from an asset, knowing that whatever remains will benefit the causes you care about.
When you establish a CRT, you transfer assets into a trust that provides you and/or the beneficiaries you select with income. You can choose a fixed income for your lifetime or a term of years, or a variable income that changes annually with the value of the investments in your trust. At the end of the trust term all remaining assets are distributed to a Brookline Community Foundation fund you designate during your lifetime.
Charitable Lead Trust
If you’d like to establish a charitable fund but also want to transfer assets to your heirs, a Charitable Lead Trust (CLT) may be the right fit. In the most common form, a donor creates a qualified trust document, names a trustee, and transfers assets to this trustee for a specified period of years or the life of an individual. During the term of the trust, annual payments are made to the charitable organizations you choose. At the end of the trust term, the remaining assets pass to your heirs free of any further transfer taxes.
Please note that the Foundation does not provide tax or legal advice. We encourage you to talk with your professional advisor.
If you have any questions about the kinds of gifts the Brookline Community Foundation can accept, please contact Jenny Amory at 617-566-4442 or firstname.lastname@example.org