Types of Planned Giving
Planned Gifts through Wills or Trusts
A will or trust is one of the simplest and most common
ways to provide for KCME in your estate
plans. Gifts through a will or living trust leave a legacy
that will inform and educate future generations for
years to come. You may choose to make an outright
bequest to KCME by leaving a specific dollar
amount, or a percentage of your estate.
Bequest Benefits
A bequest is generally a revocable gift, which means it
can be changed or modified at any time. You can
choose to designate that a bequest be used for a
general or specific purpose so you have the peace of
mind knowing that your gift will be used as intended.
Bequests are exempt from federal estate taxes. If you
have a taxable estate, the estate tax charitable
deduction may offset or eliminate estate taxes,
resulting in a larger inheritance for your heirs.
Testamentary Trust
Declares that part or all of an estate be left in trust, with the income or some stated amount to be paid to one or more beneficiaries. Upon the death of the surviving beneficiaries, the principal will be paid to CMPBH. A Gift through Life Insurance Premiums on a gift of life insurance are tax deductible if CMPBH is both owner and beneficiary, and the gift is irrevocable. If the gift policy is paid up, there is an immediate tax deduction equal to the policy’s replacement value.
Life Estate Gifts
Life estate gifts, in which you convey the remainder interest in his or her property, can be used with a residence, farm or vacation home. You receive a charitable tax deduction at the time of the gift and can use the property for your life as well as the life of a spouse or partner.