Gifts which can be made without giving money now
Thank you for considering making a donation to the Brain Injury Association of Maryland. If making a donation at this time does not fit into your current plans, please consider one of the following options. If none of these gift options work with your current situation, we hope that you will consider making a donation in the future.
Gifts which can be made without giving money now
Charitable bequests
Through your will or living trust, you can designate a specific percentage, dollar amount or item to be donated to the Brain Injury Association of Maryland. You can also designate that after other specific bequests have been filled, the remainder be directed to the university. You may wish to consider naming the Brain Injury Association of Maryland as a “contingent beneficiary” in the event of your named beneficiaries do not survive you.
Life insurance
You can name the Brain Injury Association of Maryland as a beneficiary, or owner and beneficiary of a life insurance policy. You can change the owner and/or beneficiary designation of an existing policy or purchase a new policy with such designations.
Retirement plan assets
Retirement plan assets are subject to income taxes during your lifetime and upon your death. If you leave retirement assets to a non-spouse beneficiary, they may be subject to both income and estate taxes. Many people prefer to avoid this double taxation by directing retirement plan assets as a gift to charity, in which case the gift is fully tax deductible from the estate as a charitable gift. Other assets can be left to family members that are not subject to income taxes when received.
Each of these options should be thoroughly discussed with your financial planner or attorney before implementing them.
Gifts which can be made without giving money now
Charitable bequests
Through your will or living trust, you can designate a specific percentage, dollar amount or item to be donated to the Brain Injury Association of Maryland. You can also designate that after other specific bequests have been filled, the remainder be directed to the university. You may wish to consider naming the Brain Injury Association of Maryland as a “contingent beneficiary” in the event of your named beneficiaries do not survive you.
Life insurance
You can name the Brain Injury Association of Maryland as a beneficiary, or owner and beneficiary of a life insurance policy. You can change the owner and/or beneficiary designation of an existing policy or purchase a new policy with such designations.
Retirement plan assets
Retirement plan assets are subject to income taxes during your lifetime and upon your death. If you leave retirement assets to a non-spouse beneficiary, they may be subject to both income and estate taxes. Many people prefer to avoid this double taxation by directing retirement plan assets as a gift to charity, in which case the gift is fully tax deductible from the estate as a charitable gift. Other assets can be left to family members that are not subject to income taxes when received.
Each of these options should be thoroughly discussed with your financial planner or attorney before implementing them.