IMMEDIATE GIFTS

An immediate gift may be made in cash or in any of several forms of property, such as real estate, securities, art objects, etc. Any such gift immediately reduces the taxable portion of your estate and provides an immediate income tax deduction.

BEQUESTS

By leaving money to the Foundation through your Will, you can substantially reduce the estate and inheritance taxes otherwise payable. These taxes must be paid in cash. Frequently, there are not enough liquid assets in an estate to meet the taxes, so valuable but hard-to-sell objects and business interests are liquidated at forced sale, the loss can be considerable. Property left to the Foundation is removed from the taxable estate.
 

TRUST FUNDS

A trust agreement transfers your property to a trustee (a bank, a person(s), or the Kiwanis of Oceanside Pacific Foundation, Inc. which is  authorized to manage the property and pay the income to you, to other individuals or to the Foundation, as you direct. There are several types of trusts:

1. Lifetime:  A lifetime trust operates for the benefit of the donor for the lifetime of the donor or the lifetime of other persons, and then to the benefit of the Foundation on the death of the donor or the death of another beneficiary. In an irrevocable trust, a portion of the property contributed may represent a current income tax deduction.
2. Short-Term:  Another kind of lifetime trust, this plan terminates within a relatively short period. It does not have the tax advantages of a longer trust, but it is a good way to solve certain problems of individual income.
3. Testamentary:  A trust created by your Will, this plan permits you to keep the property in your estate intact, provide prudent management and insure protection to those who survive. Once the trust is put into effect, it functions similarly to that of the lifetime trust.

LIFE INSURANCE POLICIES 

You can make a gift to the Foundation by assigning a life insurance policy. The value of the policy at the time of the assignment is the amount of the gift. Each succeeding premium you pay, if any, is also a deductible gift. The Foundation can also be made a contingent beneficiary, payable only if other designated beneficiaries do not survive you. And, you may also give the Foundation an insurance policy on which you no longer wish to pay premiums. The first and third methods are immediate gifts; the second becomes a gift only if the Foundation becomes the beneficiary in fact.