Leaving a Legacy of Giving 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.
MAKING CHARITY A PART OF YOUR ESTATE PLAN
charities may specialize in specific assets. For example, if your home is considered a historic site, you may want to gift it to a preservation society so that it stays properly maintained. DECIDE HOW TO GIVE 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. 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.
NAME A CHARITY IN YOUR WILL 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 it is always a good idea to notify an organization about what you are planning to give. Smaller philanthropic organizations may not accept complex assets, such as stocks or real estate. On the other hand, some
MEET VIRGINIA BAERMANN
Our New Client Services Specialist
On the government side of things, Virginia is a proud veteran who served in the Army. Prior to joining us, she worked for a financial services provider. That experience makes her uniquely qualified to understand our clients’ needs. It has also allowed for a smooth transition into her new role. “It’s wonderful to be helping people in the public sector,” Virginia says. “On top of that, everyone here is incredibly positive and friendly. It’s a wonderful environment in which to work, and I’ve been warmly welcomed since day one. I really appreciate the effort everyone has put in to make me feel at home so quickly.” On a daily basis, you can find Virginia answering phones, scheduling appointments, and performing a slew of administrative tasks. She helps keep us honest and makes sure we’re running like a well-oiled machine. She’s also the friendly
face greeting our clients when they arrive at the office. “I’m really enjoying my new role,” she notes. “It’s a chance to do a little of everything, meet a ton of wonderful people, and make a real difference.” Outside of work, Virginia stays busy by participating in a “huge range” of activities. “I ski, snowshoe, backpack, camp, waterski, play tennis, and more,” she reveals. “No matter the season, you can find me outside enjoying the scenery and staying active.” That level of energy also serves her well at work, where she never fails to bring a cheery disposition and passion for her job. We are so happy to welcome Virginia Baermann to the RPS family. Please be sure to say hello to her the next time you’re at our office.
Virginia Baermann recently joined the team at Retirement Planning Strategies to serve as our new client services specialist. She’s only been with us for a few months, but she already feels like part of the RPS family. Perhaps that’s because Virginia has experience in both the federal and financial spheres.
2 | 303-922-4304
Published by The Newsletter Pro . www.NewsletterPro.com
Made with FlippingBook - Online Brochure Maker