Planned Giving Why make a planned gift?      Planned giving makes sense. Planning now for your future and the future of the Winter Park Public Library can be mutually beneficial. The Library depends on thoughtful individuals to make decisions today—to create a legacy for tomorrow. From a tax perspective, arranging a planned charitable gift is sound financial planning. With proper planning you can often qualify your gifts for the maximum deductibility for income tax purposes. Examples of Planned Gifts      Many assets that you irrevocably donate to the Library may result in a current income tax deduction. While bequests of cash are relatively simple, there may be other economic benefits to your contribution.   Wills & Living Trusts A gift at death can be made by including the gift in your will or in a living trust. A living trust lets you provide for yourself and your family before as well as after your death. The trust has a built-in flexibility that can work very well with your overall estate plans because it allows you to stay in control of your assets.  Like wills, living trusts are fully revocable, so you can change or terminate them at any time. Real Estate      A charitable contribution of real estate will give you valuable tax benefits. These benefits may include the reduction or elimination of capital gains taxes. There are even ways to make a gift of real estate and receive a lifetime income in exchange, all while generating significant tax deductions. Contact the Development Coordinator if you are contemplating a gift of real estate. Life Insurance      When you first bought your life insurance policies, you felt a need for them. But now perhaps you don’t need all that coverage, yet you still have the policies. Considering making the Winter Park Public Library the beneficiary of your life insurance policy could be a meaningful and generous course of action.  With the proper planning, transferring ownership of an unneeded life insurance policy also may provide both income tax and estate tax benefits. The Development Coordinator can provide you and your advisors with illustrations of the many benefits of using unneeded life insurance to make a gift to the Library.       This information is a brief outline of gift planning ideas available to friends who want to perpetuate the work of the Winter Park Public Library. You are encouraged to speak with your legal and financial advisors as you contemplate a planned gift to the Library.      For questions about those and other giving opportunities, please contact Development Coordinator, Ray Barr, at rbarr@wppl.org or call 407-623-3277.