The Merryman Mills Legacy Society
Create a legacy that touches the lives of homeless pets by making a planned gift to CCHS. Many types of gifts allow you to fulfill your charitable intentions and some may result in immediate or future benefits for you. Please contact us at 217-344-7297and ask for Ryan Anderson (Ryan@cuhumane.org) for more information.
Gifts Pursuant to a Will or Trust
Generally speaking, there are two ways of making a charitable gift in your will or trust; a specific bequest of a designated amount, or a gift that leaves a person or charity a percentage of a certain pool of assets. For example, a will may designate some specific gifts to family members, and then state that all remaining funds shall be divided-up and distributed to several charities in equal amounts. An estate-planning attorney can help you craft a simple will or trust that properly articulates your intentions.
If you don't have an attorney - or just want to get started planning your will on your own - we recommend the Free Willwebsite as a place to start. We've partnered with Free Will because they offer an easy-to-use tool that helps you make or update your estate plans in as little as 20 minutes. This resource is free and accessible to use. Click here to get started today.
Gifts of Non-Probate Assets
Non-probate assets such as an IRA, 401(k), and life-insurance policies, are not distributed to heirs through a will or trust. You must designate your beneficiaries for these assets separately. You can use this free online toolto easily designate Champaign County Humane Society as a beneficiary, promoting animal welfare for generations to come. Using this tool, you will receive instructions on how to set each asset up with your broker.
Already Planned a Gift? Let us thank you properly!
If you've already made plans to support CCHS with a legacy gift, you are helping to ensure that Champaign County pets will never be truly homeless.
Please let us know about your plans so we can thank you.
Let Us Know!
Other Planned Giving Options
The following gift-types may be of interest as you plan your future and consider various scenarios for managing assets and saving on taxes. This content is intended to provide general information readily available through other online sources. We recommend you speak with your own financial planner, investment manager, and/or tax accountant before making gifts of securities or other assets.
Gifts of Securities
The best stocks to donate are those that have increased greatly in value, particularly those producing a low yield. In order to preserve tax advantages, it is critical that you transfer the physical securities to CCHS rather than the proceeds from a sale.
Appreciated Securities
If you donate stock that has risen in value and that you've held for more than one year, you pay no capital gains tax on the transaction and are entitled to a charitable deduction for the full market value of the stock. (Your income tax deduction is limited to 30 percent of your adjusted gross income. Any excess can be carried forward for five additional years.) If you wish to continue investing in a specific stock, you could donate the stock to us and then use cash to purchase shares with the same company, thus increasing your cost basis to current fair market value.
Depreciated Securities
If you have stock losses, generally you should not make a gift of the depreciated stock. Instead, it is recommended that you sell the stock to realize the loss for tax purposes. You can then contribute the cash and take a charitable deduction.
Mutual Funds
A charitable contribution of mutual fund shares can provide the same tax advantages as a gift of appreciated stock. Due to the complexities involved in the transfer of mutual fund shares, we encourage you to begin the transfer process well before December 31.
Gifts of Life Insurance
You can contribute a life insurance policy to CCHS by naming us either as the owner of the policy or as a beneficiary. If you name CCHS as owner and beneficiary, you will be entitled to an income tax deduction limited to the lower of the value of the policy or your cost basis in the contract. In addition, if you continue to pay premiums on a policy that we own, you can deduct the premium payments.
Life Income Gifts
Life income gifts allow you to receive an income as a result of making a charitable gift. Depending upon the plan you choose, the income can be fixed or variable, and can be for you or other beneficiaries you choose. For example, you might create a charitable remainder trust to pay income to you for life and contribute money, stock or property to it. Once placed in the trust, the assets can be sold (without capital gains tax) and the proceeds reinvested to produce a higher yield. Life income gifts entitle you to an immediate income tax deduction, which is based on the current value of your gift to us.
Gifts of Real Estate
If you own property that is not subject to a mortgage and has appreciated in value, a charitable gift may be an attractive option. You can claim an income tax deduction based upon the fair market value of the property, avoid all capital gains taxes and remove the asset from your taxable estate. Or, you can transfer your home or farm to us now and continue to use the property for life. Because of the complexities involved, we encourage you to contact us while working with your financial advisor.