We would be honored if you included Q Place as part of your estate planning. Planned gifts and bequests are charitable contributions and, as such, result in tax and financial benefits to the donor. The extent of your benefits will depend on the manner in which your gift is made.
Outlined below are ways in which you can make a gift to Q Place that can help you minimize estate taxes or enable you to pass assets to your heirs at greatly reduced transfer costs.
You may not be aware that if you name your children as the ultimate beneficiaries of your IRA or Qualified Retirement Plan(s), they may only receive one-third of the total assets. By gifting all or a portion of your retirement plan(s) to a charitable organization, the full value is generally passed to the charity and may ultimately make a greater impact. The amount received by a charitable organization will be fully deductible from your estate.
A Bequest is the most common method of planned giving and enables you to distribute assets to individuals and charitable organizations in the amounts or proportions you indicate. An estate gift also provides the following benefits:
- The opportunity to make a major gift while preserving assets during a lifetime
- Reduction in federal estate taxes
A gift of Life Insurance is a simple way to make a legacy gift. You may choose to name a charity as the beneficiary of all or a portion of a life insurance policy. A charity can also be named as the alternate or final beneficiary. At your death, all proceeds would pass immediately to the named charitable organization(s). If you have policies originally intended to protect a spouse, child, or even complete a mortgage payment that are no longer necessary, consider how these policies may be used to help fulfill other needs or causes.
For additional information, please Contact Us.
The above information is not intended as legal or financial advice. Please consult your personal advisor for the applicability of these principles to your own situation.