Photo Credit: Jack L. Stutts
Your Will or Trust
Your will or trust is just one part of your total estate plan, but it is the most important part. If you do not leave a will, or trust, your good intentions leaves with you. With a will or trust you can provide for those you love; relative or friend. With a will or trust you can make a charitable donation to causes that are important to you and minimize taxes and other expenses.
Give a Bequest
One way to give is with a bequest. Your will or trust can designate that a specific amount be transferred as a gift to RAIN (Regional AIDS Interfaith Network). Such a gift can take the form of cash, stocks, bonds, books, real estate, or any type of asset. You may also give a percentage of your estate. The bequest lets you pass on your gift to RAIN (Regional AIDS Interfaith Network) free of estate tax.
Consider a Gift of Life Insurance
A gift of life insurance to RAIN (Regional AIDS Interfaith Network) can be a way to make a significant donation. If you have existing policies for which you no longer need the coverage, consider assigning ownership to the Affiliate. By naming RAIN as both owner and beneficiary, you get a tax deduction as well as make a generous gift at low cost.
Gifts of Real Estate
If you own property that is fully paid off and has appreciated in value, an outright gift may be the simplest solution. You can deduct the fair market value of your gift, avoid all capital gains taxes and remove that asset from your taxable estate.
The living trust is often a good supplement to a will for those who wish to avoid the time and expense of probate. There are many kinds of trusts for many different purposes, but they all have one thing in common: they are a means of assuring that your property will be handled, and ultimately passed on, in the way you wish.
To see members of RAIN's Legacy Circle please click here.
For more information about RAIN, please contact Nathan Smith at 704.372.7246 ext. 161.