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David and Ann originally established
a fund that would help purchase needed
equipment, supplies, and provide for
maintenance. They had made an outright
gift of some appreciated
stock. It was later, after their
experiences with the staff, that they
changed their will to include a bequest
that will magnify the fund 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 met with some of the people
involved who are on the front lines
- doing the work. We've even been
able to help a little ourselves. I
can't describe how good it feels to
sit with these people, to hear them
describe their dreams and ambitions
and how we've helped. What a joy to
realize that we have become a part
of their future and that these people
have literally 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).
There is some additional information
available about the benefits
of utilizing a charitable bequest
and how bequests enable you to keep
control
of your assets.
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
percent 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.
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