Proactive Giving, Legacy Gifts and Endowments
Whether you are considering a gift today or gift planning for tomorrow, there is much to gain in being PROACTIVE in the planning. Meet Doug Lockin CPA, and learn how his free service might help you.
PLEASE SCROLL DOWN TO THE INFORMATION BELOW YOU BELIEVE WILL HELP YOU THE MOST
PROACTIVE GIVING GUIDE
PROACTIVE GIVING IS PRACTICAL
- Create a flexible plan for the rest of the year or for the rest of your life.
- CONTROL when you make gifts and what you give away instead of deciding whether to write a check in response to various requests!
- Reduce your “out-of-pocket” costs of giving.
SHARE YOUR LIFE STORY
- Promote the VALUES most important to you: Faith and family, education, service, environment, etc.
- Model Generosity and Stewardship by involving family members and friends in your giving decisions: leave a legacy as a message to your community.
WHAT TO EXPECT WHEN TALKING WITH DOUG
Doug will invite you to consider questions like these:
- What are your favorite charitable organizations, and to which organizations would you consider making “special” gifts?
- Are you more inclined to make “special” gifts during your lifetime or through your estate plan?
- Would you consider using charitable giving to share important values with your children or other heirs?
- If your estate was being distributed today, how would you split it between your heirs and favorite charitable organizations?
- Unrelated to charitable giving, what is your most pressing financial or estate planning issue?
- How interested are you in maximizing tax savings from all the giving you will do?
Depending upon your answers, more conversation with Doug will explore some or all of the following:
- Advantages of using assets other than cash for charitable giving.
- Gift plans that actually increase your spendable income.
- Gift planning around the “what if’s” of life.
- Values-based giving …. Passing on more than money to the next generation.
- Converting tax dollars into charitable gifts.
Final thoughts about a conversation with Doug:
- There is never any cost to you, nor any obligation to make a gift.
- You will always be encouraged to discuss Doug’s suggestions with your professional advisors.
- Doug may uncover financial or estate planning opportunities unrelated to charitable giving, and he can help you prepare to meet with your advisors.
- Doug is paid a daily salary by Blessman International, he is never compensated based on your decision to make a gift.
COMMON TOOLS & TECHNIQUES IN PROACTIVE GIVING
There is no “one-size fits all” gift plan …. review the tools and techniques below to see which might be helpful for you!
Give Today for Immediate Impact:
- Donate assets “loaded” with taxes to save most tax…
- Appreciated Securities … stocks, bonds or mutual funds you have owned for one year or more. Transfer the security directly to Blessman International.
- IRA “Rollover” to Charity … If you are age 70 ½ or greater. A direct transfer from your IRA to Blessman International.
- Other Assets …
- Unproductive Assets … something you no longer need or that is not producing income or growing to your liking. Examples: CD’s, life insurance policies, securities, etc.
- Personal Property … Examples: automobiles, collections, jewelry, etc.
- Real Estate … Give a deed to Blessman International today and continue all incidents of ownership … you get an immediate and significant income tax deduction.
- Idle Cash … make a loan of idle cash to Blessman International for as long as you like, and be relieved of the tax you would have paid on the interest income.
- Alternative TECHNIQUES for giving cash or other assets ……..
- Bargain Sale … sell an asset to Blessman International for an amount less than its fair market value and take a charitable income tax deduction for the difference.
- Donor Advised Fund … give when it is best for you and support Blessman International and others when it is best for them.
- Endow Iowa Fund … A few dear friends have initiated an “Endow Iowa Fund” for Blessman International. Please consider following their example:
- Your impact in South Africa will be significant
- Your tax benefits will be “as good as it gets”
- Click here for the simple details.
Give Tomorrow and Leave a Legacy:
1) A FLEXIBLE GIFT at the END of YOUR LIFETIME
Your plan can be designed to leave something to Blessman International and other organizations IF sufficient assets remain at the end of your lifetime. Some or all of these “tools” might be used to create your plan:
a. Your Last Will and Testament or Revocable Living Trust
b. Your IRA or other qualified retirement plan account
c. Your life insurance policy
d. Any bank or investment account using a “transfer on death” or “payable on death” provision
Each of these tools provides significant FLEXIBILITY, because the provision(s) you create are REVOCABLE. You can change your mind as often as necessary and face little or no cost to update your plans and gift.
2) A CHARITABLE ACCOUNT
Set funds aside in a separate account that you own and control. Make Blessman International or other charitable organizations the beneficiary (ies) of this account. Your intention is to leave funds in this account so they pass to Blessman International (or others) upon your death. However, if you need these funds at any tome during your lifetime, you can access the funds without having to discuss with Blessman or the other organizations. Blessman International and other organizations want you to have the security of knowing your own needs will be met.
Retirement accounts, other investment accounts, and most bank accounts can be used to accomplish this type of arrangement.
3) A GIFT that can INCREASE YOUR INCOME
Two popular giving tools fall in a category called “life income gifts.” In both cases you make a contribution of cash or other assets today, and receive income for your life (or a term of years you choose). It is very common for the income you receive from this charitable plan to far exceed the amount of income your cash or other asset was previously providing. A charitable income tax deduction for a large portion of your gift is possible; and the income you receive each year can be very favorably taxed. Other powerful applications of these tools are possible if you would rather make charitable contributions than pay federal estate tax.
HOW YOU CAN MAKE A DIFFERENCE WITH DR JIM AND BETH BLESSMAN
“We praise God for the many years of ministry in South Africa. With His continued favor and direction, we believe Blessman International will continue to serve precious African people beyond our lifetimes. Much of the Lord’s favor has come through charitable support from faithful American donors. He has also led us to develop several South African micro-enterprises for future sustainability. We humbly thank each and every one who has been a partner in this life changing work.
Looking ahead, we believe our ministry’s greatest impact will be made through our core efforts and special projects. The children’s feeding centers remain the heart of the ministry. Projects like a recent partnership (with the local government) to modernize dangerous toilet structures around area schools is an example of opportunities that regularly arise. Please consider making an immediate impact with a current gift, or extend your impact beyond your lifetime with a gift that is part of your estate plan or other long-range financial plan.
On fewer occasions, but no less important, we anticipate needing funds for ministry expansion. Please join us in praying for wisdom to be faithful stewards of God’s blessings, and to discern when He is leading us toward improved facilities or equipment.
Believing that God will use this ministry beyond our lifetimes, we are taking a more proactive approach to fund development. Engaging the services of charitable gift planner, Doug Lockin CPA, is a step we have taken to help you plan gifts with immediate or future impact.
If God is stirring your heart to support this ministry and/or other organizations, we encourage you to talk with Doug.”