What Kind of a Legacy Will You Leave?
We all have a desire for significance. For many of us, significance comes through creating a legacy during our lives....something for which we will be remembered in the future.
An estate gift is one of the easiest ways to leave a lasting legacy to a charitable organization that means the most to you. An estate gift enables you to further the good work of an organization you support long after you are gone.
An estate gift is a statement written in a will or trust that directs a gift to be made to a charity when you pass away. There are several ways to make a bequest:
Specific dollar amounts
.Percentage of your estate
.Residue of your estate
A charitable bequest can also help you save estate taxes by providing your estate with a charitable deduction for the value of the gift and careful planning can help your family avoid paying income taxes on the assets they receive from your estate.
Here are some things to remember as you plan for your future:
Consult an attorney
Make a will and other plans
Regularly update your plans
Name final beneficiaries
Remember all assets
Communicate your plans to recipient organization
Making an estate plan is a worthy task. Your will, trust, or other plans can often be completed with just a few hours of careful planning.
For more information on how to create a lasting legacy through a bequest to Georgia Baptist Children's Homes and Family Ministries Inc,please contact us at 770-463-3800 or toll free at 800-252-0872.
The Corporation is tax exempt. The gifts to the corporation qualify for the charitable deduction on Federal Income, Gift, and Estate Tax returns. A copy of our "tax exempt letter" from Internal Revenue Service is available upon request.
Bequests may be direct or contingent, restricted or unrestricted. They may be for a specific dollar amount, a percentage of the estate, or from the residue of the estate.
For more information about estate planning, please contact:
Alan McCumber, Vice President of Finance