Any person, regardless of age can make a lasting gift of gratitude through their estate.
A gift can be structured for nearly any circumstance. A legacy gift can be of any size and most commonly takes the form of a simple bequest in a will or trust that can complement your lifestyle and commitments today while supporting Resurrection Life Church Mid Michigan tomorrow.
You may also choose to name the church as the beneficiary of a variety of assets, including insurance policies, retirement funds (IRAs, 401(k)s, 403(b)s, annuities, pension or profit sharing plans)and financial accounts (bank accounts, CDs, savings bonds, brokerage accounts, stock portfolios).
A legacy gift, or charitable bequest, provides a gift of money or personal property through the direction of a will. If you wish to leave a legacy gift to Resurrection Life Church Mid Michigan, please contact your attorney.
What is planned giving? Simply put, planned giving is the process of making a significant charitable gift during a person’s life or at death that is part of his or her financial or estate plan. Planned gifts generally make use of legal and tax strategies and/or financial products that would warrant consulting a financial or tax advisor and/or an attorney. In contrast, gifts given from a person’s cash flow is not defined as a planned gift.
Planned gifts take a number of forms. There are outright gifts of assets such as appreciated securities or even artwork. Blah Blah Blah
Planned giving serves a dual purpose. Blah Blah Blah
Just takes a simple designation in your will or turst and costs nothing during lifetime. They are easy and revocable if situation changes. Most common form of a planned gift
How do I use my will to make a gift to the church?
Every bequest requires a will.
Without a will you’ll not be able to accomplish anything. Once you have a will, however, the possibilities are almost limitless.
Give a specific item of property
A named asset such as your home, or an issue of securities is easily given through your will.
A specified sum of cash can be given even if your assets are in another form. The non-cash assets will be liquidated and the cash distributed.
Give a percentage of your estate
Often times a person may choose to give a portion of their estate to several individuals and charities
Gice the remainder
You may wish to direct that the church receive what if left after other loved ones you’ve provided for are taken care of.
Avoids probate. Just name the charity as a beneficiary
Gifts of Life Insurance
Donate policy and deduct future premium payment, or just name the charity as policy beneficiary. Individuals typically payless than $1 for $1 of coverage.
Charitable Remainder Trust
Great tool for selling assets tax-free and receiving income for life; the remaining assets go to charity. It provides a steady cash flow and can be more beneficial than keeping an asset or selling it outright.