• Outright gifts. You can simply write a check or give cash to an IRS recognized charity and take a tax deduction if you itemize deductions on your income tax return and keep receipts. You will need a receipt from the charity for gifts of $250 or more.

• Will or trust bequests. You can create a bequest by including a charitable gift provision in your will or trust document. Upon your death, your estate may receive an estate tax charitable deduction for the value of the bequest.

• Beneficiary designation gifts. You can name an IRS recognized charity as the beneficiary of your life insurance, annuity, trust, IRA or other legal contract. Your estate may receive an estate tax charitable deduction for the value of your assets transferred to the charities after you die.

• Life insurance gifts. You can purchase and gift a new contract to a charity, or gift an existing contract. The contract's value and premiums, gifted to the charity, may qualify you for an income tax deduction. Upon your death, the insurance proceeds go to the charity.

• Investment gifts. You can transfer your ownership of an investment (i.e., land, a mutual fund, a stock, etc.) to the IRS recognized charity you choose. Generally you can receive a charitable income tax deduction for the gift you've made while you're living if you itemize deductions on your income tax return. You may be able to reduce or eliminate significant capital gains and estate taxation through this type of gift as well.

• Gift annuity. You can transfer money or property to a selected charity in exchange for a fixed income for your and/or a survivor's lifetime. Generally, you can receive a charitable income tax deduction for the difference between the market value of the gift and the value of the retained annuity.

• Traditional IRA gift. With preplanning, funds in a traditional IRA can be given at your death to an IRS recognized charity through your IRA beneficiary designation. The IRA funds pass to your designated charity after death, escaping the income taxes due on the remaining funds. And your estate can generally receive a charitable estate tax deduction as well.

• Zero estate tax gift. Your will or trust can be designed to pass along the maximum amount of estate assets possible to your children after death, estate tax free, through a family testamentary bequest. Typically the amount is equal to the current applicable estate tax exclusion amount.

  The remaining estate assets then are transferred to an IRS recognized charity through a charitable bequest, also estate tax free. This plan may result in a zero estate tax due on your estate.

• Charitable remainder trust. You can gift money or property to an irrevocable charitable remainder trust in exchange for an income during your life and/or the life of your survivor.

  After death, any remainder value in the charitable remainder trust passes directly to the charity or charities you've selected. You may defer, reduce or eliminate capital gains tax otherwise due on sale of the assets. You also may receive an immediate charitable income tax deduction on the remainder interest of the property that passes to charity. Finally, the assets in the charitable remainder trust may escape some estate tax after your death as well.

• Wealth replacement. Life insurance can be used to replace the value of the gift to charity. You purchase life insurance on your life equal to the value of property you plan to gift. At death, the insurance proceeds pass to your heirs income tax free. If a family member or an irrevocable life insurance trust purchases the insurance, then the proceeds may be estate tax free as well.

• Wealth replacement trust, also called an irrevocable life insurance trust (ILIT). This irrevocable, living trust is created outside the donor's estate and is set up to own life insurance on the donar. The amount of life insurance the trust owns usually is less than or equal to the amount of property you plan to give to a charitable cause. Upon your death, your heirs, who usually are the trust beneficiaries, can receive the insurance proceeds from the trust both income and estate tax free.

• Donor-Advised Fund, administered by a community foundation, allows you to play an active role in the grant-making process, while foundation staff perform the administrative chores. You (or a person you designate) recommend grants from the fund to the charities of your choice—at any time.

You should always consult with legal and tax experts for advice before you put a plan into action or make a charitable gift. Lack of proper advice could lead to adverse consequences, and you could lose the beneficial tax advantages as well.

Your Thrivent Financial representative, together with your attorney and tax advisor, can help you understand the variety of charitable giving techniques that are available. All you have to do is ask for a free, no-obligation meeting at your convenience. You will receive valuable information as you determine which option best meets your specific charitable giving needs.