A bequest costs nothing right now and can leave a lasting legacy for future generations. Once your family and friends are provided for, we hope you consider a legacy gift that supports families and individuals working toward their independence a part of your life story.
If at any point in time and for any reason, you wish to make changes to include Habitat in your will, you can easily amend it by using a Codicil. A codicil is a document your attorney can prepare to amend your will or trust without rewriting the entire document. The codicil adds a new gift to Habitat for Humanity of Orange County, NC while reaffirming the other terms of your will.
If you have a life insurance policy that has outlasted its original purpose, you can use it to fund a legacy gift while also enjoying tax savings during your lifetime.
To name Habitat for Humanity of Orange County, NC as a beneficiary of your retirement plan, contact your bank or insurance company to see whether a change of beneficiary form must be completed.
If you have bonds that have stopped earning interest and that you plan to redeem, you will owe income tax on the appreciation. In the end, your heirs will receive only a fraction of the value of the bonds in which you so carefully invested. Since Habitat for Humanity of Orange County, NC is a tax-exempt institution, naming us as a beneficiary ensures that 100 percent of your gift will go toward families in need of decent, affordable housing.
You can create a grant recommendation from your donor-advised fund to support Habitat for Humanity of Orange County, NC.
Final distribution of contributions remaining in a donor-advised fund is governed by the contract you completed when you created your fund. We hope you will consider naming Habitat as a “successor” of your account. Or, you can name us as the successor for a portion of the account value, leaving the remaining portion for your heirs.
You can turn the value of real estate into community good and receive financial and tax benefits with a gift to Habitat for Humanity of Orange County, NC of real estate. A rental house, vacation home or unimproved acreage can be gifted to Habitat for Humanity of Orange County, NC for sale. You avoid capital gains tax and the proceeds from the sale of the property will be used to support our work in the community. A gift of only the ‘remainder interest’ in your personal residence to Habitat for Humanity of Orange County, NC while you and your family continue to live in and fully enjoy your home as long as you like can also produce a charitable deduction. This is a retained life estate and works just as well with a farm or vacation home as with your principal residence.
Shares of appreciated publicly traded stock are an effective way to support Habitat for Humanity of Orange County, NC and avoid taxation on the gain. We can receive stock gifts directly through your brokerage account; you receive a charitable income tax deduction, usually equivalent to fair market value as determined under IRS guidelines. We will sell the stock immediately and apply the net proceeds toward our mission.
Habitat for Humanity of Orange County, NC will also consider gifts of closely-held business interests such as S corporations, limited liability companies, and limited partnerships if an acceptable means of converting the stock into liquid assets can be an anticipated within a reasonable time. This may occur through redemption agreements, liquidation or asset transfers. These are complex transactions, so consultation with your tax advisor or planning professional is necessary.
To make a gift of stock, please contact:
David Henson, Financial Advisor
Wells Fargo Advisors
DTC Number: 0141
Account Number: 3956-6759