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Planned
Giving
Wills
and Bequests
The
most important and most utilized form of planned giving
are bequests. Donors use bequests to retain control of their
assets and still know they are assisting their favorite
charities later. Sometimes bequests are described as 'voluntary
philanthropy' as opposed to involuntary giving by way of
estate taxes.
Patricia:
"I value my education and I appreciate all the sisters
who taught, no matter what their order. They did it for
the honor and glory of God and the children in the classroom.
When I visited the new home for the retired Sisters, I was
thrilled to see the joy on their faces. How much that visit
meant to me! I am delighted that I have the financial resources
to remember the Sisters in my will."
A
bequest (see bequest wording)
often consists of a gift of securities or other assets acceptable
to the charity that provide income or other value for the
donor. For that reason, the donor may wish to have control
of the assets during their lifetime. Estate taxes are reduced
by the value of the bequest.
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.
In
many cases, a bequest involves appreciated
assets which involves favorable tax treatment which
should be explored concerning capital gain taxes.
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.
Patricia
was delighted to be able to remember the Sisters in her
will. Often donors are surprised by just how wonderful the
giving experience is.
Now
click here to meet Roger Grein.
Return
to Ways to Give.
Please
note, individual financial circumstances will vary. The
information on this site does not constitute legal or tax
advice. Donor stories and photographs are for purposes of
illustration only. As with all tax and estate planning,
please consult your attorney or estate specialist. All material
is copyrighted and is for viewing purposes only. Use of
this site signifies your agreement with the terms
of use. The content in this Planned Giving section has
been developed for Sisters of Notre Dame de Namur, Ohio
Province by Future
Focus. Please report any problems to section
webmaster. Revised: February 7, 2007 10:36.
©1999-2006,
Sisters of Notre Dame de Namur, Ohio Province 701 East Columbia
Avenue, Cincinnati, OH 45215-3999 513-761-7636 | 513-761-6159
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Weaver. This page was updated: February 7, 2007 10:36
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