Assets You Can Use
One of the easiest planned gifts to make is a bequest through your will using cash. Instruct your lawyer to include a provision for ECF in a new or revised will, or add a codicil to an existing will. You can also use cash to establish a pooled income fund.
Bank Accounts, Certificates of Deposit and Securities
You can make sure your bank accounts, certificates of deposit, or securities go immediately to support ECF through a Totten Trust, or Transfer upon Death Account, which in most cases only requires the completion of a form from your financial institution.
Certain retirement plans, such as IRAs, 401(k), 403(b), and Keoghs, allow individuals to defer paying taxes on a portion of their income until the assets are withdrawn during retirement years. However, after a person’s death, these accounts are often exposed to taxes. Therefore, you might find it beneficial to contribute all or part of these funds to ECF while leaving other assets to your heirs.
Life Insurance Policies
A straightforward method of philanthropic giving is through life insurance policies. ECF welcomes gifts of life insurance when the policy is paid in full and the Foundation is named as the owner and the irrevocable beneficiary of the policy.
You can make a gift of real estate to ECF through your will. You can also transfer the deed to your property to ECF while retaining the right to live there for your lifetime. You would continue to take care of the property and pay the taxes. However, because you have made a gift of the property by deed to ECF, it will not pass through probate after your death. You may also be able to take a deduction on your income tax return during the year you make your gift.
Gifts of Personal Property
Gifts of personal property including jewelry, art, antiques and collectibles, can be an effective way to provide support for ECF. They can be used to establish a charitable trust or the property can be given directly to ECF.