Other Gift Types

Charitable Remainder Unitrust (CRUT)  

Under a charitable remainder unitrust, the donor irrevocably transfers money, securities, or other property to a trustee selected by the donor.  The trustee pays the donor (or one or more non-charitable beneficiaries designated by the donor) a fixed percentage of the net fair market value of the trust’s assets, as determined annually.  The payments are made for life or lives of the non-charitable beneficiaries or for a fixed period of years not to exceed 20 years.  Upon termination of the non-charitable beneficiary’s interest, the assets of the Unitrust are transferred to IRHFH.

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Charitable Remainder Annuity Trust (CRAT)  

A charitable remainder annuity trust is identical to a unitrust, except that the non-charitable beneficiary receives a fixed dollar amount annually from the trust.

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Life Insurance

 Many individuals have life insurance policies which were purchased with the hope of ensuring the financial stability of their family should something happen to them or their spouse.  If your circumstances have changed since that long-ago purchase, you may wish to consider making a gift of your policy to Indian River County Habitat for Humanity.

A large life insurance policy may give rise to heavy estate taxes as the value of the policy will be added to the total value of your estate when you pass away.  You can designate Indian River County Habitat for Humanity as the beneficiary of your policy and your estate will receive a charitable contribution deduction on the policy’s full value.  You may also designate Indian River Habitat for Humanity as a contingent beneficiary in the event your primary beneficiary predeceases you.

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Retirement Plans

 You may name Indian River County Habitat for Humanity as the beneficiary of a retirement plan or Individual Retirement Account (IRA).  Because you have named a non-profit as the recipient, the entire amount in your account will be protected from both income and estate taxes and transferred to Indian River County Habitat for Humanity.

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Life Estate

 A donor may contribute a personal residence or farm to Indian River County Habitat for Humanity and retain the right to occupy the property until death.   The lifetime use of the property may be based upon your life, another’s life or two lives such as you and your spouse.  The life estate ends and the property passes to Indian River County Habitat for Humanity when the lives of the designated individuals ends.  Proposed gifts must be reviewed individually as sometimes it is not practical for us to accept the gift.