Planned Giving: Building a Legacy of Justice

At the Lancaster Law Foundation, we believe in creating a lasting impact on our community by promoting access to justice, supporting education, and fostering programs that strengthen Lancaster County. Our Planned Giving Program offers donors the unique opportunity to leave a legacy that reflects their values while meeting their personal financial goals.

Planned gifts ensure the Foundation’s ability to continue supporting critical initiatives well into the future. Depending on your preference, your planned gift can be designated to our Endowment Fund to sustain long-term growth or directed where the need is greatest to support ongoing and emerging needs.

Why Consider a Planned Gift?

Planned gifts allow donors to:

• Make a meaningful contribution without affecting current financial stability.
• Support causes they care about while achieving personal financial goals.
• Gain potential tax benefits for themselves and their estate.

Our Executive Director and Director of Development are available to meet with prospective donors to:

• Discuss the Foundation’s goals and how planned gifts can make an enduring difference.
• Explain various planned giving options.
• Provide detailed literature on gift arrangements.

We encourage all donors to consult with their family, legal counsel, and financial advisors before finalizing any planned gift.

Planned Giving Options

Wills/Bequests

Naming the Lancaster Law Foundation as a beneficiary in your will or codicil allows you to retain full control of your assets during your lifetime. You can:

• Designate a specific dollar amount or asset.
• Name the Foundation as a contingent beneficiary.
• Leave a percentage or the remainder of your estate to the Foundation.

Charitable Gift Annuities (CGA)

Establishing a Charitable Gift Annuity provides you with lifetime income and significant tax benefits:

• Receive a fixed annual income for life.
• Benefit from a current-year income tax deduction (with a five-year carry-over).
• Potentially avoid capital gains taxes and enjoy partially tax-free annuity payments.

Life Insurance

Donating a life insurance policy offers a flexible and impactful way to support the Foundation:

• Gifts of existing policies may qualify for a current-year tax deduction.
• New policies, with the Foundation named as owner and beneficiary, allow you to deduct premium payments made as charitable contributions.

Charitable Remainder Trusts (CRT)

Charitable Remainder Trusts provide income for life while offering significant tax benefits and the ability to support the Foundation long-term:

• Charitable Remainder Unitrusts:
  • Provide a variable annual income based on a percentage of the trust’s value.
  • Allow for future additions to the trust.
  • Offer a current-year charitable contribution deduction.

   

• Charitable Remainder Annuity Trusts:
  • Provide a fixed annual income (at least 5% of the initial value).
  • Offer a current-year charitable contribution deduction.
  • Avoid capital gains taxes when funding the trust with appreciated assets.

   

Other Planned Giving Options

• Revocable Charitable Remainder Trusts: Maintain flexibility by retaining the right to revoke the trust.
• Retained Life Estates: Donate property while retaining the right to live in or use it for life.
• Charitable Lead Trusts: Provide immediate support to the Foundation while preserving assets for heirs.

Next Steps

If you are interested in learning more about planned giving or discussing options that best suit your financial goals and philanthropic interests, please contact us:

Lancaster Law Foundation
Penny L. Smith, Director of Development
Email: penny@lancasterbar.org

Thank you for considering a planned gift to the Lancaster Law Foundation. Together, we can build a stronger, more just community for generations to come.