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Planned Giving
Oftentimes, one of the preferred ways that individuals feel they can leave a legacy is by making a planned gift to an organization that has provided comfort, inspiration and guidance in the past. Planned or estate gifts typically allow donors to make a more significant gift to an organization, as they are given out of the estate assets rather than out of income. Elim Care has many ways to make a planned gift that benefits you, as well as our ministry. From tax relief to a guaranteed source of income, planned gifts can provide important benefits to you in addition to being a wonderful way to leave a lasting legacy.
Bequests
The simplest way to make a deferred gift is to include Elim Care as a beneficiary in your will. The amount of your gift can be a specific dollar amount or a percentage of the remainder of your estate. Sample language is available upon request.
Retirement Plan Assets
Because IRA assets are often subjected to high tax rates, many times donors find it beneficial to designate a charity as one of the beneficiaries of this asset. By doing so, estate and income taxes are often greatly reduced. Specific dollar amounts or a percentage of the asset can be indicated when making the gift.
Life Insurance
Designating Elim Care as the beneficiary of a life insurance policy can be a smart and easy way to make a deferred gift. Upon the insured’s death, Elim Care would receive all or a portion of the life insurance proceeds. Other plans that utilize life insurance policies as giving tools are also available.
Charitable Remainder Trusts
There are various types of charitable remainder trusts, all of which allow donors to provide income to themselves or others for life or a term of years while still making a generous gift to Elim Care. Charitable remainder trust donors transfer assets-usually cash, securities, or real estate-to a trustee of their choice. During the term the trustee invests the assets. When the term ends, the remaining principal passes to Elim Care.
Gift Annuities
A gift annuity is a type of gift that provides an income to the donor. Upon receiving a gift of cash or marketable securities, Elim Care will begin making fixed annual payments to the donor for life and, if desired, for the life of another beneficiary. Upon the death of the last beneficiary, the remaining funds will serve as a gift to Elim Care’s ministry.
To get a better idea of how one of these options could be beneficial to you, please click here to use the PhilanthroCalc gift calculator.
The examples noted above are just a few of the ways in which supporters of Elim Care can structure a planned gift. If you would like to find out more about any of the options noted above or to customize a planned gift, please contact Elim Care at (952)259-4500.
