You may not be aware that if you name your children as the ultimate beneficiaries of your I.R.A. 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 made during your lifetime 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 opportunity to make a major gift while preserving assets during a lifetime, with a reduction in federal estate taxes.
A gift of Life Insurance is a simple way to make a legacy gift. You may 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 organizations. Policies originally intended to protect a spouse, child or even complete a mortgage payment may no longer be necessary. Consider how these policies may be used to help fulfill other needs or causes.
If you would like additional information about how to include Ambleside Schools International in your legacy giving,