Planned Giving

Bequest Gift

There are three ways you can make a bequest:

1. Specific Bequest: You designate a specific dollar amount, specific percentage, or specific property to KidsFirst.

2. Residual Bequest: Your estate will pay all applicable expenses (i.e. debts, taxes) and specific bequests. The remaining amount — the residual — will be transferred to KidsFirst.

3. Contingent Bequest: You can ask that KidsFirst receive all or a portion of your estate only under certain circumstances. For example, you can name KidsFirst as a beneficiary of your estate only if there are no surviving close family members. For example, couples sometimes provide for the entire estate to go to the surviving spouse, or if the spouse does not survive, then to KidsFirst.

Other Types of Charitable Gifts

Life Income Gift

Family obligations and the need to provide for retirement, coupled with the high cost of living, make it difficult for many people to consider a substantial charitable gift now. But there is a way to have the satisfaction of making a meaningful lifetime gift without sacrifice. In fact, you can get current income tax and financial benefits. It is called a life income gift. You irrevocably transfer some assets to KidsFirst now, and in return, you (and a survivor, if you wish) receive income for life.

What are examples of life income plans?

• Charitable Gift Annuity
• Joint and Survivor Annuities
• Charitable Remainder Trust
• Unitrust
• Annuity
• Pooled Income Fund

Charitable Gift Annuity

The charitable gift annuity enables you to make a gift to support KidsFirst and at the same time improve the quality of life for your family. In exchange for your gift of cash or marketable securities to KidsFirst, we agree to pay you (and a survivor or other beneficiary) a fixed amount annually for your lifetime. The transfer is part gift and part purchase of an annuity.

Charitable Remainder Trust

A trust is a legal agreement that specifies how the assets placed under the trust will be managed. The charitable remainder trust is an attractive method to achieve a variety of goals while providing income for life and knowing that after your lifetime, the property remaining in the trust will be used by KidsFirst as you specified.

Life Insurance Gift

If you no longer need your purchased life insurance to provide for children or other family members, please consider donating the policy to KidsFirst. Under certain circumstances you may claim a charitable tax deduction.

Charitable Lead Trust

Individuals with very large estates can use a charitable lead trust to benefit KidsFirst and in certain circumstances pass principal to family members with little or no tax penalty.

Retirement Plan Gift

Many individuals today have qualified retirement plans such as an IRA, 401(k), Keogh or other type of plan.  Typically, these assets have been growing tax-free for years. Once the owner begins to receive payments from the qualified plan, the distributions are generally taxed. The plans are also included in the owner’s taxable estate. A retirement plan may be an excellent source of funds for making a gift to KidsFirst.

Please consult your own tax, legal or financial advisors for the most accurate and latest information available regarding Planned Giving vehicles which would work best for you.

Wills

A bequest – making a donation through your will – is one of the easiest and most effective ways to make sure that your family and friends are fully provided for by your estate, while at the same time supporting the important work of an organization such as KidsFirst. A bequest has added advantages. Through your will, you can specify that the remainder of your estate (after your family and friends are provided for) goes to charity, or you can specify that a charity receive a pre-determined fixed gift. If you already have executed your will, you can amend it easily through a simple legal device known as a “codicil.” Consult your estate planning advisor for more information.