All of us would like the opportunity to make a difference in the world and leave a legacy. Some may believe that only people who are wealthy are in a position to do so however, there are many simple ways for ANY of us to leave a legacy that will benefit the charitable organizations we care most about.
Last Will and Testament: You can choose to leave a portion of your estate to your loved ones, and designate a specific bequest giving either a percentage of your assets or a specific dollar amount to Living Care Retirement Community.
Traditional IRA’s and Retirement Plans: Designate Living Care Retirement Community as one of your beneficiaries. By doing so, the designated amount may not be subject to either estate tax or income tax. By leaving a legacy to Living Care Retirement Community through either an IRA or similar retirement plan, your estate may avoid paying some estate taxes. Each person’s situation is unique however, and would need to be carefully examined before any changes are made.
Certificates of Deposit: Name Living Care Retirement Community as your Payable on Death (POD) Beneficiary.
Commercial Annuities: Designate Living Care Retirement Community as one of your beneficiaries, and that designated amount will not be subject to estate tax or income tax.
Life Insurance Policies: Leave all or part of your death benefits to Living Care Retirement Community.
Charitable Gift Annuities: With this type of gift you can give an amount of money, either with cash or some sort of securities, and Living Care Retirement Community will pay you an annual annuity amount based on your age. This amount will never change for as long as you live. There are usually positive tax advantages with this type of gift and it can be a good way to help with your budgeting for the year.
Estate Note: When one chooses to use the Estate Note as a means of making a Legacy Gift there is no money exchanged at the time the gift is made. An Estate Note is simply an agreement that directs your estate to pay Living Care Retirement Community a certain amount of money at the time of your death.
If you would like to learn more about the tools that may help enhance your future financial well-being while providing for a meaningful charitable gift to Living Care Retirement Community, contact our development office.
…What will be YOUR Legacy?
For more information, e-mail firstname.lastname@example.org.