Leaving Your Christian Legacy
If you die without a Will, your property must be distributed according to the laws of your state – not necessarily according to God's law, your wishes, or your family's needs. Your estate and the care of your minor children, among other things, will be managed by a court-appointed administrator. This can be avoided by having a written Will, which allows you to exercise your right to say how your possessions will be distributed upon your death.
When you take an inventory of your estate, including real estate, personal property, retirement accounts, life insurance, savings accounts, stocks, mutual funds, etc., you can decide how much will be given to Christ's ministries and when. Following are descriptions of several ways you can designated your assets to Lutheran Bible Translators in your Will and/or trusts.
Gift by Bequest
There are several ways that you, as a donor, may remember LBT in your Will. Specific bequests let you express your personal desires regarding the distribution of your estate. Our Planned Giving Representative can help you understand and compile this information, including different types of tax benefits and income plans for survivors.
Charitable Gift Annuity
Simply put, a gift annuity is a contract between you and Lutheran Bible Translators. As donor, you transfer your gift of cash or securities to the organization. In payment, we promise to pay you a fixed guaranteed amount of income for as long as you live. It is a way to give a gift and, at the same time, receive income that may be at a higher rate of return than you are now getting for CDs, IRAs, and other savings plans.
Gifts of Appreciated Securities
Securities are stocks, bonds, or mutual funds. Appreciated securities are simply those that have grown in value since time of purchase. Making a gift of securities can offer important advantages to you, such as bypassing capital gains taxes, getting maximum tax deduction, and making the most of current market values.
Gifts in Trust
Placing certain assets in trust now can be extremely valuable by assuring you current income, while providing a gift in the future for LBT's ministry and the people it serves. Charitable Remainder Trusts pay currently to you or members of your family and when the trust term is over, the trust terminates and whatever is left, the trust remainder, is transferred to LBT. Charitable Lead Trusts provide income you can give to LBT for a designated term of years. After that time, the assets are returned to you or your beneficiaries.
Gifts of Life Insurance
Life insurance is a way for you to make a major gift at a very low cost. You can receive an immediate tax deduction. Lutheran Bible Translators can benefit from a new or existing life insurance policy when you designate our organization as Sole Beneficiary, Owner, or Contingent Beneficiary. A life insurance policy is an asset that can double or triple its original value, providing long-term income for LBT's ministry and the people it serves.
What To Do Now
If you already have a Will, you can modify it easily to include a gift to Lutheran Bible Translators. If you don't have a Will, this information is a good place to start.
Your attorney will help you summarize the property you own and guide you in your bequests, keeping in mind the best tax advantages for those who are to inherit your estate.
bit.ly
