Planned giving is a means of “leaving a legacy”, by establishing charitable giving for the work at NLEC, prior to one’s death.
This legal document insures that your estate is distributed and your family is cared for as you choose. In addition to caring for your family, you can also help homeless and needy people in the community by including the New Life Evangelistic Center in your Will.
Stocks, bonds, and mutual funds are the most common types of Securities in a person’s portfolio. By making a gift of Securities to the New Life Evangelistic Center you can claim the full appreciated value of the Securities as a charitable contribution deduction and usually avoid the capital gains tax.
REVOCABLE LIVING TRUST
A Revocable Living Trust is a private legal arrangement that can provide investment management during your lifetime and a plan for distributing your assets at your death. This plan provides significant flexibility in investing, paying out income, and distributing principal and does not go through probate, thus, saving time and money at your death.
If you have a life insurance policy that has served its original purpose – providing for your children, protecting your mortgage, or securing your retirement funds – you may use this policy to help the New Life Evangelistic Center. You can do this by naming the New Life Evangelistic Center as owner or beneficiary, and possibly experience some tax benefits as well.
Any type of Real Estate you own can be donated to the New Life Evangelistic Center: house, farm, rental property, business property, land, vacation home, and more.
Retirement Assets are tax-deferred retirement savings accounts, including profit-sharing, IRAs, 401(k), 403(b), and Keogh and pension plans. Gifts from these accounts while you are still living may have withdrawal penalties and will certainly have income tax liabilities. However, a gift from your Retirement Assets at your death would help avoid income and estate taxation, plus it can help the homeless and needy people in our community.
PAYABLE ON DEATH ACCOUNTS
Payable on Death Accounts are a simple way to designate who will receive funds upon your death. This designation can be done with banks, brokerage firms, retirement funds, and more. Since you are considered the owner of your account, you can cancel or change it as you wish. At your death, unlike Wills, Payable on Death Accounts do not involve probate, allowing for quicker distribution and privacy.