COVER STORY, CONTINUED...
Super Moms have their kryptonite. Mom was not perfect. Even she would admit that she was doing the best she could with what the good Lord blessed her with. Like all of us, Mom had some physical imperfections. For the last three years of her life, she battled Parkinson’s. This form of dementia caused her to lose her ability to do many of the activities she enjoyed. But Mom never let Parkinson’s define her. She never let it take the smile from her eyes. My entire life, I always knew where I stood with Mom from one simple look. For the duration of this devastating illness that took much of the life from her body, even with her last breath, Mom still had a smile in her eyes when she looked at me. When I told her I loved her for the last time on the day that she died, Mom flashed me that same smile in her eyes that said what I needed to hear: She loved me too. Mom, thanks for protecting me, providing for me, and taking care of me. Thanks for praying for me, believing in me, and loving me. I am truly a better person because of you, Mom. I’ll continue to don my superhero cape and continue the adventures of this life. It will be a little harder, though, as this is one I won’t be able to experience with you. But because of what you taught me and especially because of your faith in God and in me, I know I am not
alone. I know that I will see you again soon. So soon that you won’t even have time to miss me.
Happy Mother’s Day, Mom. I love you.
-Kevin Tharpe
Leaving a Legacy of Giving MAKING CHARITY A PART OF YOUR ESTATE PLAN
Your estate plan is far more than just a set of documents. It’s a declaration of what you find most important and a roadmap of the legacy you’d like to leave. Not only does a proper estate plan ensure that your loved ones will be taken care of when you’re gone, but it also allows you to make an impact on the wider world through charitable giving. Many avenues exist for making planned gifts to nonprofits, but here are some of the basics on how to make giving a part of your plan.
notify an organization about what you are planning to give. Smaller philanthropies may not accept complex assets, such as stocks or real estate. On the other hand, some charities may specialize in specific assets. For example, if your home is considered a historic site within your town, you may want to gift it to a preservation society so that it stays properly maintained.
DECIDE HOW TO GIVE
NAME A CHARITY IN YOURWILL
There are different ways to structure a charitable bequest, giving you the flexibility to make sure your estate planning goals are met. If you have a set sum of money or a particular asset you wish to leave to a charity, you can make a specific bequest in your will. However, if you want to ensure your loved one’s needs are met before giving a portion of your estate to charity, you can make what’s known as a residuary gift. With a residuary gift, once debts have been paid off and your other beneficiaries have received their bequests, a specified percentage of your remaining estate will go to a charity of your choice.
The most basic way to give to a charity is by naming it in your will. Simply name the charitable organization you wish to support among your beneficiaries, and specify the assets you wish to give. If estate or income taxes are a concern, ensure your chosen organization is a 501(c) (3) nonprofit. These are the charities the IRS deems tax-exempt.
MATCH THE ASSETS TO THE CHARITY Almost all charities will accept cash bequests, though
OTHER AVENUES
Depending on your income level and the kinds of assets in your estate, more complex means of making a planned gift may be available to you. Talk to your estate planner to see if creating a charitable trust or establishing a foundation is the right move for you.
it is always a good idea to
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