Legacy Gifts
Support the future of performing arts and arts education by including Buddy Holly Hall in your long-term estate and financial plans. A planned gift of legacy provides significant benefits to you and ensures Buddy Holly Hall will be there for future generations of artists.
Planned Gifts
A planned gift is just that, a gift of legacy that is thought out and planned. It can include a gift of stock, remembering Buddy Holly Hall in your will, or a gift through a life insurance policy among many other options. Buddy Holly Hall encourages you to visit with your financial professional so you can make the right decision for yourself and your family through your act of generosity. A planned gift at any level is appreciated by Buddy Holly Hall and all gifts are tremendously valued. Giving to Buddy Holly Hall allows you to build a legacy that will benefit generations on the South Plains.
Bequests
A gift to Buddy Holly Hall in your will or living trust is a simple, flexible and versatile way to give. Known as a charitable bequest, a gift of legacy through your will also provide tax benefits. To make a charitable bequest, you need a current will or revocable living trust. Your gift can be made as a percentage of your estate or you can give a specific amount of cash, securities or property.
Stocks or Other Securities
A stock portfolio is often among the most valuable assets you own—and one that can carry substantial capital gain, or appreciation in value. If you sell appreciated securities, you will pay capital gains taxes—at a rate that could be 20 percent or more. By donating appreciated securities you have owned for more than one year to Buddy Holly Hall, you will be exempt from paying capital gains taxes and experience other tax benefits. Buddy Holly Hall has established an account to receive gifts of securities, such as stocks, bonds and mutual funds.
Life Insurance
When the original purpose for the protection of your life insurance policy no longer applies—such as to educate children now grown or to provide financial security for a spouse now deceased—your life insurance can be redirected to help support Buddy Holly Hall. One option is to name Buddy Holly Hall as the beneficiary and assign us ownership of the policy as a charitable gift. Another option is to name Buddy Holly Hall as primary beneficiary while you retain ownership of the policy; however, while this qualifies as an estate tax deduction, it does not qualify for an income tax deduction.
Gift Trusts
Some methods of creating a gift of legacy can actually pay you. A Charitable Remainder Trust, commonly referred to as a gift trust, is a flexible way to make a lasting impact, while providing yourself with income and reducing your tax liability. When you transfer assets to a gift trust, you are eligible for a federal income-tax deduction based on what is expected to go to Buddy Holly Hall at a later time. Conversely, another option is a Charitable Lead Trust, which distributes income payments to Buddy Holly Hall annually for a period of years, then the assets revert back to the donor’s heirs upon the donor’s death.
IRA Qualified charitable distribution
If you are over 70 ½ years old and would like to make a gift to Buddy Holly Hall directly from your IRA, you can transfer that gift tax-free directly to Buddy Holly Hall through a Qualified Charitable Distribution. Although there is no tax deduction, the distribution is excluded from your income for federal tax purposes, and no tax is due. Amounts up to $100,000 qualify.
Contact us at 806.747.3200 or info@lepaa.org with any questions about planned giving to Buddy Holly Hall.