REAL ESTATE: After meeting the criteria of Michigan Animal Adoption Network, real estate may be deeded outright to Michigan Animal Adoption Network, or, if it is a donor’s residence or farm, may be given subject to retained life interests. The value of the interest being contributed may be used as a charitable contribution for income tax purposes.
SECURITIES: Contributions of securities may be easily accomplished. If the donor’s securities have appreciated in value at the time of the gift, there may be income tax benefits and other advantages to the donor.
INSURANCE: Michigan Animal Adoption Network can be designated as both the irrevocable beneficiary and owner of an insurance policy. The organization would thus be assured of a definite sum in the future. Income, gift and estate tax charitable deductions may be allowed for a gift of an irrevocable life insurance policy under most state laws.
WILLS: Designations of bequests should clearly indicate Michigan Animal Adoption Network. Bequests under wills may reduce estate taxes.
TRUSTS: Irrevocable charitable remainder unitrusts or annuity trusts may be established to provide for lifetime payments to the named beneficiaries. Upon the death of the surviving income beneficiary, assets would be utilized by Michigan Animal Adoption Network for its charitable purpose.
The Michigan Animal Adoption Network is a Section 501(c) 3 nonprofit and your donation may qualify as a charitable deduction for federal income tax purposes. Please consult with your tax adviser or the IRS to determine whether a contribution is deductible.