Including a charitable bequest to the Chapel Hill Public Library Foundation (CHPLF) in your will is a simple way to make a lasting impact on our community through the Library. Bequests can take the form of a stated dollar amount, a specific property, a percentage of your estate, or the remainder of your estate after distributions to other beneficiaries. In leaving a bequest to the CHPLF, you can support your Library and your community while preserving and enjoying assets you might need during your lifetime. Importantly, bequests distributed to the CHPLF are exempt from estate and inheritance taxes. Furthermore, the value of the bequest may also be deductible from the taxable value of estate, lowering any applicable estate taxes.

As with all legal and financial matters, we recommend that you consult with your tax advisor, attorney,or financial planning professional to determine how a bequest to the CHPLF could impact your estate. If you are interested in making a bequest to the CHPLF, please contact us at info@chplfoundation.org or complete this form.

Giving through life insurance is one of the simplest ways to make a significant contribution to the Chapel Hill Public Library Foundation (CHPLF).

There are two approaches to gifting through life insurance:

1. Designate the CHPLF as the primary or secondary beneficiary of part or all of the proceeds from your insurance policy;

2. Transfer ownership of the policy to the CHPLF. The transfer of a paid-in-full policy is a present gift for which a charitable tax deduction may be taken. Your continued payment of premiums are considered charitable contributions, deductible to the full extent of the tax code.

As with all legal and financial matters, we recommend that you consult with your tax advisor, attorney, or planning professional to determine how a gift to the Foundation could impact your estate.

If you are considering adding the CHPLF as a beneficiary or transferring ownership of your life insurance policy to the CHPLF, contact us at info@chplfoundation.org or complete this form.

Giving through a Charitable Remainder Trust allows you to receive income from that Trust for the rest of your life or a specified term of years, knowing that whatever remains will benefit the Chapel Hill Public Library Foundation (CHPLF). The donor receives an immediate charitable deduction upon establishing a Charitable Remainder Trust and subsequently receives regular income distributions from the trust. A donor may choose to receive a fixed payment (Annuity Trust) or one that changes with the value of the trust assets (Unitrust). Payments can begin immediately or can be deferred to increase the charitable income tax deduction. The size of the payments and the amount of the charitable tax deduction depends on the age of the recipient and the applicable federal interest rate. Upon the beneficiary’s death or after a defined period of years, the remaining assets in the trust will transfer to the CHPLF.

Charitable Remainder Trusts offer great potential for a significant contribution to the CHPLF and require conversation with your financial planner, estate planner, and tax advisor.

If you are interested in creating a Charitable Remainder Trust to benefit the Foundation, please contact us at info@chplfoundation.org or complete this form.

You can translate the value of real estate into community good while receiving financial benefits by donating your property to the Chapel Hill Public Library Foundation (CHPLF).

Donors can make either contemporary or deferred gifts of almost any type of real estate. Contemporary gifts provide immediate impact as the donation is made upon sale and transfer of the property and donors of real estate avoid capital gains tax. Deferred gifts allow donors to keep a “life estate” in their personal residence, while continuing to live in the property.

As with all legal and financial matters, we recommend that you consult with your tax advisor, attorney, or financial planning professional to determine how a gift to the Foundation could benefit you.

If you interested in giving a gift of real estate to the CHPLF, please contact us at info@chplfoundation.org or complete this form.

Assets in qualified retirement plans and IRAs are ideal for charitable giving purposes because these assets are often heavily taxed when passed to non-spouse beneficiaries. To make a future gift of retirement plan assets simply requires a designation of the Chapel Hill Public Library Foundation (CHPLF) as the beneficiary of the plan. Making a present gift of retirement account assets during your lifetime has been permitted under recent law for certain tax years. Your tax advisor can assist with interpretation of current laws.

As with all legal and financial matters, we recommend that you consult with your tax advisor, attorney, or financial planning professional to determine how a gift to the Foundation could benefit you.

If you are prepared to add the Foundation as a beneficiary for our retirement plan or gift assets, please contact us at info@chplfoundation.org or complete this form.

Shares of appreciated publicly traded stock provide an effective means to support the Chapel Hill Public Library Foundation (CHPLF) and avoid taxation on the gain. The CHPLF can receive stock gifts directly through a donor’s brokerage account. The donor receives a charitable income tax deduction, usually equivalent to the fair market value as determined under IRS guidelines. The CHPLF will sell the stock immediately and apply the net proceeds toward our mission. The CHPLF will also consider gifts of closely-held business interests such as corporations, limited liability companies, and limited partnerships if an acceptable means of liquidating these assets can be anticipated within a reasonable time. This process may occur through redemption agreements, liquidation or asset transfers.

These gifts are complex transactions, so consultation with your tax advisor or planning professional is strongly recommended.

If you are ready to leave a legacy to benefit a sustainable future for the Library and our community, please contact us at info@chplfoundation.org or complete this form.