 Effective gift planning can increase your current income or protect your estate and provide for the needs of loved ones. Through this process, you can obtain valuable tax advantages and provide a future gift to help the children at Boys & Girls Town of Missouri. Consult your financial advisor to learn what may be best for you. For information on any of the giving opportunities below, please call Bill Muehlman, director of gift planning, at (314) 535-7911.
Planning for Boys & Girls Town in
Your Will:
A bequest through a will or trust enables Boys & Girls Town to continue providing programs and services to meet the needs of the thousands of troubled children in the years to come. A bequest may be made for a specific amount or as a percentage of your estate while avoiding estate tax. Should you have an existing will or trust and wish to include Boys & Girls Town in your estate planning, a codicil can be created to reflect your desire. You may consider including Boys & Girls Town similar to being a dependent and identifying as equal portions or some bequest or mention for a specific percentage of the overall estate.
Here is wording you may wish to use, or consult your attorney for the proper wording to include Boys & Girls Town in your estate plan:
I bequeathe to Boys & Girls Town of Missouri _____________ (specified dollar amount) or __________ percent of my estate for their general purposes.
Charitable Gift Annuities:
Charitable Gift Annuities have been in existence and used by contributors since the late 1800’s. A Boys & Girls Town of Missouri gift annuity guarantees to provide you a fixed amount of income for the remainder of your life. Rates are exceptionally high and attractive to donors over age 60. You may establish a “one” or “two” life gift annuity by gifting cash, stock or other assets for immediate income or defer your income to a set future date. Because your gift is irrevocable, you receive a partial contribution deduction, plus a portion of your income will be non-taxable (based upon your anticipated life span). Using appreciated stock can be most advantageous as that much of the capital gains will be avoided. Boys & Girls Town of Missouri is a member of and subscribes to the recommendations from the American Council on Gift Annuities for suggested rates.
Gifts of Life Insurance:
Gifts in life insurance provide a new beginning for children at Boys & Girls Town . You can donate an existing life insurance policy to Boys & Girls Town , or name us as the beneficiary. A gift of a paid policy entitles you to an income tax deduction equal to the lesser of either the cash value of the policy or the total premiums paid. You may also make a gift of a new policy to Boys & Girls Town and deduct the premiums, provided Boys & Girls Town of Missouri is named as owner and beneficiary.
Charitable Remainder Trust:
A Charitable Remainder Trust is an ideal way to utilize non- or low-income producing assets while providing you and an additional beneficiary increased income for life or a specific term of years. To establish a Charitable Remainder Trust (CRT) you, as the donor, transfer assets such as cash, securities or real estate, to a trust you create. The CRT is an ideal way to receive a minimum of 5 percent income and use appreciated assets such as stock or real estate for funding. Much, if not all capital gain is avoided while increasing income and receiving a contribution deduction. Upon the death of final income beneficiary, Boys & Girls Town receives the remainder of the trust to provide for the needs of the children.
Retained Life Estate:
All too often in today's society people are faced with the decision of what to do with the home, vacation home, farm or ranch at the end of their lives. In most cases, a gift of property to charity during one's life can be advantageous. You can make a gift of this property and continue to live on the property for life. By deeding your home to Boys & Girls Town of Missouri now, you can obtain valuable tax savings.
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