An inheritance may consist of a lifetime of investments. But a legacy results from an investment of a lifetime. An inheritance needs to be well-planned. A legacy should be intentional.
Examine your life and see what has been the most valuable to you and others. There you will find your legacy.
Discover your Legacy: Where have you invested your life? Who are the people, and what causes and institutions have you invested your time, talent, and treasure into? Who has left the greatest legacy in you? How can you leverage your social, financial, experiential, and spiritual legacy?
Fund Your Legacy: There are myriad ways to fund your legacy. They include well-drafted wills, beneficiary arrangements, gifts of life insurance, and charitable trusts.
Leverage Your Legacy: If giving generously to break the cycle of poverty and bring hope to the near Eastside of Indianapolis is important to you now, then let your generosity continue to make a difference for generations to come.
Remember this: everyone will leave a legacy. Make sure you are intentional.
Let our planned giving experts help you review your options and create a plan that makes your desires a reality.
Contact us today to discuss how to invest your legacy for generational transformation. You can leave a legacy of HOPE.
Studies show that adults’ #1 financial fear is focused on a single question: “What if I outlive my money?” Or, reworded, “What if the money runs out before I/my spouse pass away?” To have life at the end of your money is possible! Some planned gifts can guarantee you an income for your lifetime regardless of how long you live. This method of planned giving guarantees you receive an income you cannot outlive, and if there is a remaining balance when you pass away, the balance goes to Shepherd Community Center. There are multiple options for singles and married couples with this planned gift, including a joint payout for a couple that will pay out over both lifetimes. A planned gift of this type will benefit you and continue the work of Shepherd Community Center to bring hope. As an added bonus, your planned gift will qualify for a tax deduction if you can itemize your taxes!
One of the advantages of a planned gift is there are various ways to make an impact. Many planned gifts are made in the future. A simple example is changing the beneficiary on an IRA or retirement account to Shepherd Community Center. You continue to control your principal, income, and future disposition. Additional examples include:
Changing your will or trust.
Life insurance beneficiaries.
Adding beneficiaries to bank or investment accounts.
None of the above involve writing a check, but they will help sustain the impact of hope through Shepherd Community Center for generations to come.
A planned gift can unlock potential income, decrease tax liabilities, and generate favorable tax advantage income for you. Many planned giving options are only received at the end of one’s life, relieving the pressure and need to have the funds in hand now. Whether you want to increase cash flow now or make a gift at the end of your life, a planned gift will help you make an impact and sustain the hope of Shepherd to our neighbors for generations to come.
The answer to this common concern can be tricky and often depends on your specific tax circumstances. We recommend you consult your accountant or financial advisor to understand how your planned gift impacts your tax liabilities. Many planned gifts that produce current income will also generate a charitable itemized deduction. Your ability to use that deduction depends on your specific tax return. Additionally, some techniques allow you to transfer appreciated securities into a planned giving instrument, subsequently sell them, and avoid capital gains. Depending on your current income and tax situation, you may be able to decrease your taxable income, receive a tax deduction, and receive a lifetime income from the same planned giving technique.
Just like your retirement plans should be a part of your career plans, your charitable giving strategy should include current and future giving. People with a planned gift set in place experience a deeper connection with the nonprofits they support. If you are passionate about Shepherd Community Center while living, consider continuing your impact by making a planned gift to continue your passions and legacies after passing away. Completing a planned gift can be as simple as including them in a will or making them the beneficiary of a retirement account or life insurance. The benefit of making these decisions when you are young is that you have various options and feel confident throughout your life that no matter what may come, your impact of hope through Shepherd Community Center will be long-lasting.