| Wills
and Bequests David and Ann originally established a scholarship
that would help particular students meet some of their college expenses. They
had made an outright gift to their college of some appreciated
stock. It was later, after their experiences with the recipients of the scholarships,
that they changed their will to include a bequest that will magnify the scholarship
tenfold.  Ann:
"We felt good about helping through establishing a small fund. But we had
no idea what the fund would bring to us." David: "Over
the years, we have since met with some of the recipients
of the scholarship. I can't describe how good it feels to sit with these young
people, to hear them describe their dreams and ambitions. To realize that we have
become a part of their future and that they have become a part of our family." Ann: "I
feel like we really have accomplished something good!" Setting all
the emotional rewards aside, this was a wise financial move. First, there were
some immediate tax benefits on the initial gift based not on the cost of the stock,
but on its appreciated value. Second, their estate will benefit by having a write-off
to charity through the bequest (see bequest
information). Using funds from a retirement account to make bequests is
often a good strategy. If there is a balance in your retirement account at your
death, not only is there a potential income
tax burden, but there may be estate taxes as well. Estimates are that taxes could
eat up as much as 70-75% of retirement assets under certain circumstances. Careful
planning concerning retirement funds needs to be done. Some additional information
regarding retirement assets is available. Another
option to consider in making a gift is to use life insurance policies that are
no longer needed or necessary. There are some different ways to make a gift
of life insurance. Ann and David found their experience enriched their
hearts and lives. Often donors are surprised by just how wonderful the giving
experience is. Now click here to meet Joyce. | 
