You can create a lasting legacy at the Sikh Coalition by including us in your estate plans. A bequest to the Sikh Coalition can help you and your family reduce or avoid estate taxes and at the same time ensure your life’s work will benefit Sikhs for generations to come.
Regardless of the source of your legacy gift, it is important to consult a qualified lawyer, tax consultant or estate planner to assure that your wishes are carried out.
You will need to know our legal name:
The Sikh Coalition
50 Broad Street, Ste. 504
New York, NY 10004
Our federal tax identification number is: 22-3834037
One of the most popular and easiest types of gifts in an estate plan is a bequest. You can designate the Sikh Coalition to receive a specific dollar amount, a specific asset, or a percentage of the total value of your estate. If you have an existing will, a codicil (an amendment to a will) can easily be added to include the Sikh Coalition as a beneficiary.
Real estate property values have increased significantly in recent years. Substantial tax benefits can be achieved when you make a gift of your residence to the Sikh Coalition.
Life Insurance Policy
You may consider how a life insurance policy that no longer suits your needs can become a significant charitable gift to the Sikh Coalition.
- You might name us a beneficiary of an existing policy. Naming the Sikh Coalition as the sole beneficiary or a partial beneficiary will allow you to make a sizeable gift to the Sikh Coalition.
- Donate an obsolete policy. If you own a policy that is paid-up and your dependents no longer need the policy’s protection, you can designate the Sikh Coalition as the owner of the policy and receive an immediate tax deduction.
If your estate plan includes a trust, you can designate the Sikh Coalition to receive a specific dollar amount of cash, specific assets (a cash account or other asset), or a percentage of the total value of your trust assets.
If you have an existing revocable trust, an amendment can easily be made to include the Sikh Coalition as a beneficiary. Specific instructions about how to prepare and execute a trust or a trust amendment can be provided by your attorney, accountant or estate planner.
There are other estate planning options that can give you an immediate tax deduction while providing you and/or a loved one with investment income for life.
Irrevocable trusts (such as charitable trusts) allow you to exchange low basis, highly appreciated assets for income in the form of an annuity or a percentage of the fair market value of the assets.
Stocks and Bonds
Making a gift of appreciated stock or mutual funds can provide many tax advantages including avoiding federal and state tax on capital gains and receiving an income tax deduction for the full market value of your gift. A stock gift can be an ideal way to make a larger gift at a lower original cost to you, stretching your donation further and securing a Sikh-friendly America.
Again, regardless of the type of bequest you intend to leave, it is important that you consult a qualified attorney, accountant or estate planner to make certain your plan meets your retirement and philanthropic goals.