Update May 2021
Fight hunger today, tomorrow, and for generations to come
Leaving a legacy gift to Montana Food Bank Network — whether in your will or other part of your estate — ensures your assets are put to their best philanthropic use and distributed in a way that reflects your beliefs and values. Some gift options can provide current tax benefits to you or future tax benefits to your estate. In addition, some options can provide lifetime income to you or your family today.
Stocks, Bonds, Mutual Funds
Many gifts of appreciated securities such as stocks, bonds and mutual funds provide a charitable deduction for the full fair market value of the donated asset.
Bank Accounts and CDs
Name us as the “payable-on-death beneficiary” of your bank accounts or on certificates of deposit. You own the assets for your lifetime and have them available for your use. Upon your death, the assets pass directly to the MFBN without going through probate.
Property that is not mortgaged, has appreciated in value, and you no longer need or use can be donated. You can deduct the fair market value of your gift and eliminate all capital gains taxes.
Retirement Account Assets
You may leave all or a portion of your retirement plan to MFBN and avoid high-income taxes. At the same time, you can pass more tax-favored assets to your family.
You can name MFBN as the sole beneficiary of your life insurance policy. You can make annual tax-deductible contributions to cover the policy’s annual premium. Or, if the policy is paid up, you will receive an immediate tax deduction in an amount equal to the policy’s cash surrender value.
Leave a designated amount, percentage, or the remainder of your estate to us in your will. You can also leave a particular piece of property.
Charitable Gift Annuity
This is the most common type of planned gift. You make a charitable gift and you and/or someone you designate can receive lifetime income. The remainder goes to MFBN upon your passing, potentially reducing and deferring capital gains tax and reducing probate costs and estate taxes.
Charitable Remainder Trust
A charitable remainder trust pays you a fixed or variable income. The payments are made either for life or a period of time not to exceed 20 years. At the end of the trust’s term, the balance in the trust goes to support the charity you designate. You’ll also receive a partial income tax deduction.
Charitable Lead Trust
This type of charitable trust pays income to one or more charitable organizations, typically for a period of years, after which the remaining trust assets pass to family members.
Contact Bill Mathews, Chief Development Officer to discuss how you can include the Montana Food Bank Network in your future planning.
Montana Food Bank Network provides general information only and does not provide financial counseling or estate planning services. For tax or legal advice, please consult a professional financial advisor or an attorney.