Legacy Society

Gifts of securities include not only publicly traded stocks like Microsoft or Wal-Mart, but gifts of mutual funds, Treasury bills and notes, corporate and municipal bonds, and stock in non-publicly held companies. If you own stock for more than one year that has gone up in value, you can donate the stock to Rockwall County Helping Hands, get a deduction equal to the fair market value of the stock at the time of the transfer (its increased value), and never pay capital gains tax on the appreciated value of the stock.

Appreciated securities are investments that have increased in value from the time they were purchased, and can take the form of publicly traded stock, exchange-traded funds (ETFs), closely held stock, or mutual funds. Contributing such assets may enable you to potentially eliminate capital gains tax liability on the sale of the assets, enjoy a current year tax deduction, if the you itemize, while allowing Rockwall County Helping Hands to receive the most money possible.

The reasons why donors make charitable bequests are as varied as donors themselves. One common factor, however, is a sincere desire to give back to the community or to a particular charitable organization. Other advantages include:

• It is easy. Making a bequest is as simple as inserting a few sentences into your will such as, “I give $10,000 to Rockwall County Helping Hands.”
• It is revocable. With a bequest you are not actually making a gift until your death. Until then, you are free to alter your plans, eliminating the worry that you might make a commitment you could later regret.
• It is tax-smart. Your estate is entitled to an unlimited estate tax charitable deduction for bequests to qualified charitable organizations.