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Estate Planning
Simple Wills Missouri Baptist Children’ Home has been caring for hurting children for more than 116 years. Every year, the financial requirements grow ever greater as we minister to more children, youth and families and as we continue to adjust our programs to meet the changing needs of our society. To ensure that we are able to serve future generations of children and families, we must continually seek alternative methods and sources for financial support. For many years, the philosophy of the MBCH Development staff has been that providing service to donors will result in adequate resources to care for the hurting children. The MBCH Foundation continues that philosophy by providing estate planning services. Whether it’s in the preparation of a will or trust, or simply helping answer your questions about the complex world of estate planning, the development staff at the MBCH Foundation is available to provide you with some of the best counsel and estate planning services available today (at no cost or obligation). Members of our development staff can meet with you in the privacy of your home to discuss your estate planning needs (wills, trusts or life income arrangements). They will help you plan your gifts in ways that can allow you to 1) increase your current income, 2) reduce your current and future taxes, 3) reduce or eliminate the cost of probate and 4) not disadvantage your heirs. The following services are available at no cost or obligation:
Our development staff has special training and expertise in estate planning and charitable giving techniques. In addition, the MBCH Foundation has two Certified Financial Planners on staff. The MBCH Foundation also is backed by expert financial counselors who can provide sound advice for any area of planning. Estate Planning OpportunitiesSimple WillsMany people who believe in the ministry of Missouri Baptist Children’s Home have included something in the final distribution of their estates to help the hurting and abused children in our care. In this way, their lives continue to have a positive influence long after their deaths. Future generations of children, youth and families will benefit from the compassion and generosity of these donors. There are several simple ways to make a bequest to the ministries of Missouri Baptist Children’s Home through your will:
In addition to the benefits of providing for the ministries of Missouri Baptist Children’s Home, gifts through a simple will benefits you by reducing the size of your estate for federal estate tax purposes. Although gifts during your lifetime are deductible only up to a certain percentage of your adjusted gross income, gifts by will are deductible without limitation. Second, you will have the joy of knowing that your concern for children will continue to be addressed through your gift long after your death. To find out more about
how you can help children in your will, please call 1-800-264-6224 or
e-mail
development@mbch.org. Gifts of Appreciated PropertyWhile most charitable gifts are made in the form of cash, gifts or non-cash property may offer important tax advantages to the donor. When mutual funds, stocks, bonds, real estate or other appreciated assets are sold, tax is due on any capital gain. However, one of the only ways to avoid or delay capital gains tax is to make a gift of the property to a charitable cause. When you give appreciated property that has been held more than 12 months, you may take a deduction based on the current value of the property rather than just its original cost to you. It is usually best to donate property that would be subject to the highest tax rate if sold. To find out more about
how you can help children with your property, please call 1-800-264-6224 or
e-mail
development@mbch.org. Charitable Gift AnnuityA charitable gift annuity is a legal agreement between you and a qualified a charitable cause. A gift annuity can be funded with a gift of cash or property. You (or others, if you desire) then receive, under contract, a guaranteed fixed lifetime income. The amount of the payments is based on the age(s) of the recipient(s) at the time the gift is made, the size of the gift and whether one or two lives are involved in the annuity. A tax deduction is allowed for a portion of the cash or property used to fund the annuity. Also, only a portion of the annuity payments will be income tax free for the life expectancy of the donor(s). This is a wonderful way to make a meaningful gift while enjoying income and generous tax benefits. To find out more about
how you can help children with your gift, please call 1-800-264-6224 or
e-mail
development@mbch.org. Charitable Remainder TrustsWith this tool, the donor creates and transfers property (cash and/or other assets) into an irrevocable trust. The donor (and/or designee) receives income for life or for a specific period of time up to 20 years. At the end of the trust period, the property remaining in the trust becomes the property of the MBCH Foundation. These trusts offer both income and generous tax benefits. The donor can elect to receive a fixed dollar amount (Annuity Trust) or a percentage of the value of the assets (Unitrust). To find out more about
how you can help children with your remainder trusts, please call 1-800-264-6224 or
e-mail
development@mbch.org. Charitable Lead TrustOften called “the gift that comes back,” this type of trust operates on the same principle as the Charitable Remainder Trust, but the charity receives the income produced by the trust. The trust can be created to provide income for the charitable cause for a specific period of time such as 5, 10, 15, 20 years or more. At the end of the trust period, the assets used to fund the gift are returned to you or your loved ones. Through this trust it is possible to transfer assets to heirs with little or no estate or gift taxes due. Because you made a definite gift commitment when the trust was created, you are entitled to a deduction for the value of the payments to the MBCH Foundation in the year the plan was created. To find out more about
how you can help children with your lead trust, please call 1-800-264-6224 or
e-mail
development@mbch.org. Life Estate AgreementUnder a life estate agreement, the donor may transfer the title to a residence or farm to a charitable cause while retaining the right to continue living there and using the property for life. The donor is entitled to any income the property produces and is responsible for maintenance and upkeep of the property. A tax deduction is available in the year of the gift equal to the value of the remainder interest. At death, the charitable cause receives the property to use as needed or as directed by the donor. To find out more about
how you can help children with your estate, please call 1-800-264-6224 or
e-mail
development@mbch.org. |
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