Gifts That Cost Nothing

Appreciated Stock Giving

Gifts of Appreciated Stock gained in this long Bull Market is simple, quick and will lighten your tax load. Just download the Form and contact your broker. They will take care of the rest.

Did you know there are a variety of ways to grow your legacy that can be accomplished just by designating Foodbank of Santa Barbara County as a beneficiary to Retirement Accounts, Life Insurance Policies, Savings Bonds, Certificates of Deposit, Mutual Funds and more? There is no need to write a check now — you retain full control of your assets for as long as you need them.

Retirement Savings Plan

Because retirement plans are taxed differently than most assets, they may actually become a tax liability. Naming Foodbank of Santa Barbara County as a beneficiary of your retirement account can be an attractive option for growing a legacy and reducing income and possibly estate taxes for your loved ones.

  • Simply ask your plan administrator for a beneficiary designation form and include Foodbank of Santa Barbara County as the beneficiary of a specific percentage of the account value or as a contingent beneficiary.

Foodbank of Santa Barbara County, 4554 Hollister Avenue, Santa Barbara, CA 93110 (Foodbank of Santa Barbara County Tax ID 77-0169214), for its general use.

Life Insurance Policies

Life Insurance Policies that have long since served their original purpose are a great gift to make and grow your legacy with us. Perhaps you purchased a policy to make sure your children’s tuition needs were accounted for. Or perhaps you have a policy your parents purchased for you years ago. These policies can grow your legacy and wonderfully benefit the Foodbank of Santa Barbara County.

  • Simply request a beneficiary designation form from your life insurance company and make Foodbank of Santa Barbara County a full, partial or contingent beneficiary.
  • Sign over a fully paid policy. You will be allowed a tax deduction for your generosity.

Gifts of Savings Bonds

If you have savings bonds that have stopped earning interest, they may be a tax liability for you. If you redeem your bonds, you will owe income tax on the appreciation. Leaving them to loved ones means they will owe income tax when they cash the bonds and perhaps estate taxes, too. In the end, your heirs will receive only a fraction of the value of the bonds in which you so carefully invested.

Wouldn’t it be wonderful if you could grow your legacy and avoid these taxes while giving your savings bonds new life? Because Foodbank of Santa Barbara County is tax-exempt, we will receive the full value of your savings.

  • Simply bequeath them to Foodbank of Santa Barbara County with this single sentence in your will or living trust to complete your gift. “I bequeath my savings bonds, serial numbers ________________ to Foodbank of Santa Barbara County, 4554 Hollister Avenue, Santa Barbara, CA 93110 Tax ID 77-0169214”

Gifts of Certificates of Deposit and Other Bank Accounts

Many Foodbank of Santa Barbara County donors have assets — sometimes overlooked — that make an ideal gift for growing your legacy. These include certificates of deposit, bank accounts and brokerage accounts. These assets only transfer to Foodbank of Santa Barbara County when you no longer need them and you can designate Foodbank of Santa Barbara County as the recipient of the account proceeds.

  • Simply by naming us as the pay-on-death or transfer-on-death beneficiary (Foodbank of Santa Barbara County, 4554 Hollister Avenue, Santa Barbara, CA 93110, Tax ID 77-0169214)

Flexibility

Review and adjust your beneficiary designations at any time should your circumstances change

Savings

Avoid expensive legal fees to make changes as in a Will or Trust

Avoid Probate

Gifts given via beneficiary designation bypass the probate process

To learn more about planned giving, please contact Matthew Neal (805) 967-5741 x116.

Share