SHEPHERD'S CENTER
| of Webster-Kirkwood, Inc. |
GIFTS YOU CONTROL
Bequests
If you would like to make a substantial charitable gift but need to meet your own or
your family’s financial needs first, then a bequest may be a good way to meet both
your charitable and personal financial goals. A bequest is a gift that is provided for in
your current will or trust. Since the gift is not made until after your lifetime, you have
the flexibility to use the money if you need it. You can specify a certain item or
amount of money, a percentage of your estate or even a percentage of what is left
after specific gifts to your family. If your estate is subject to estate taxes, a bequest to
the Shepherd’s Center will reduce the amount of estate taxes which must be paid.
Beneficiary Designation
Some assets such as life insurance policies, annuities, and IRA’s or other retirement
accounts require a separate beneficiary form. In Missouri, it is also possible to pass
on other assets, such as bank accounts, investments, your automobile and even your
house, by way of beneficiary designation. You retain control of the assets during
your lifetime, so you have the flexibility to change your mind to meet your changing
needs. Naming a beneficiary is usually a simple process.
Retirement Accounts:
By naming the Shepherd’s Center of Webster/Kirkwood, Inc. as a beneficiary of a
portion of your IRA or other retirement account, you can maximize your charitable gift
because it would pass tax free to the Shepherd’s Center whereas your heirs would be
required to pay income taxes upon receipt of the money.
Life Insurance Policies:
Sometimes our supporters find themselves having more life insurance than they need
once their children are grown and through college. Designating one or more
charities, such as the Shepherd’s Center of Webster/Kirkwood, Inc., as a beneficiary
of a life insurance policy, can be a no cost/low cost way to give a substantial
charitable gift. If you are concerned that your estate will be subject to taxation, you
should consult your professional advisor to help you structure the gift to achieve
maximum tax benefits for your estate.
Real Estate:
Most of our supporters can’t imagine living anywhere other than their current home.
Some of these supporters would like to make a substantial gift to the Shepherd’s
Center of Webster/Kirkwood, Inc. but don’t have the resources to make such a gift
today. One option for these supporters is to donate their home to the Shepherd’s
Center, but through a contractual arrangement retain the right to live their for the
remainder of their lives. Another option, for supporters living in Missouri, is to create
a beneficiary deed which would transfer the home to the Shepherd's Center if they
still own it at the time of their death. You should consult your professional advisor
about the tax savings associated with a gift of real estate.
Bequests
If you would like to make a substantial charitable gift but need to meet your own or
your family’s financial needs first, then a bequest may be a good way to meet both
your charitable and personal financial goals. A bequest is a gift that is provided for in
your current will or trust. Since the gift is not made until after your lifetime, you have
the flexibility to use the money if you need it. You can specify a certain item or
amount of money, a percentage of your estate or even a percentage of what is left
after specific gifts to your family. If your estate is subject to estate taxes, a bequest to
the Shepherd’s Center will reduce the amount of estate taxes which must be paid.
Beneficiary Designation
Some assets such as life insurance policies, annuities, and IRA’s or other retirement
accounts require a separate beneficiary form. In Missouri, it is also possible to pass
on other assets, such as bank accounts, investments, your automobile and even your
house, by way of beneficiary designation. You retain control of the assets during
your lifetime, so you have the flexibility to change your mind to meet your changing
needs. Naming a beneficiary is usually a simple process.
Retirement Accounts:
By naming the Shepherd’s Center of Webster/Kirkwood, Inc. as a beneficiary of a
portion of your IRA or other retirement account, you can maximize your charitable gift
because it would pass tax free to the Shepherd’s Center whereas your heirs would be
required to pay income taxes upon receipt of the money.
Life Insurance Policies:
Sometimes our supporters find themselves having more life insurance than they need
once their children are grown and through college. Designating one or more
charities, such as the Shepherd’s Center of Webster/Kirkwood, Inc., as a beneficiary
of a life insurance policy, can be a no cost/low cost way to give a substantial
charitable gift. If you are concerned that your estate will be subject to taxation, you
should consult your professional advisor to help you structure the gift to achieve
maximum tax benefits for your estate.
Real Estate:
Most of our supporters can’t imagine living anywhere other than their current home.
Some of these supporters would like to make a substantial gift to the Shepherd’s
Center of Webster/Kirkwood, Inc. but don’t have the resources to make such a gift
today. One option for these supporters is to donate their home to the Shepherd’s
Center, but through a contractual arrangement retain the right to live their for the
remainder of their lives. Another option, for supporters living in Missouri, is to create
a beneficiary deed which would transfer the home to the Shepherd's Center if they
still own it at the time of their death. You should consult your professional advisor
about the tax savings associated with a gift of real estate.
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