Planned Giving

Welcome to the Planned Giving Site

When it comes to estate planning your family’s needs must come first, and your financial advisor is your best guide. Below are some essentials to help you understand planned giving.

1. A Will
At your death, a will serves as a road map telling your personal representative how to distribute assets to other people or to a charity. Without a will, you are powerless over how your assets are distributed. Instead, the laws of the state where your residence is, the state in which you spent most of your time, and where you were registered a voter and held your driver's license will determine how your assets will be divided.

2. Revocable Living Trust
A revocable inter vivos or "living" trust is an important part of the estate plan for many people with means "during life", which is when the trust is established. Revocable means that the creator as the grantor of the trust, can change the terms of the trust or revoke it completely during his/her lifetime. Assets in trust are not part of your will; they are transferred according to the instructions of the trust document.

3. Gifts of Stocks and Securities
Appreciated stocks and securities (held for over 1-year) are a great way to provide financial support for Pusch Ridge and/or Cornerstone. You receive a current income tax deduction based upon the appreciated value and you avoid capital gains taxes.

4. Gifts of Life Insurance
Life insurance may be a wise way to make a gift. Perhaps family circumstances have changed since you purchased your life insurance policy. If you find that you no longer need this policy, you may donate it to the schools, or you may purchase a new policy and name the schools as beneficiary. Insurance gifts can make a future sizable gift to our schools possible and affordable, and provide you with a charitable deduction.

5. Charitable Remainder Trust
When you create a charitable remainder trust, you irrevocably transfer money, securities or other assets to a trust that will then pay you (or your beneficiaries) an income for life or for a period of years, predetermined. After a predetermined time, or after the death of the surviving beneficiary, the remaining principal in the trust goes to the schools. Charitable reminder trusts vary. Choosing the right charitable remainder trust to fit your own needs is best achieved with the advice of an attorney or tax professional.
 

Important Information to Know

Power of Attorney
A general power of attorney permits the holder of the power to act on behalf of another individual grantor, and lapses upon the grantor's incompetence. A durable power of attorney survives the incompetence of the grantor and allows the holder of the power of to act. This document can begin if the grantor lapses from competence to incompetence for periods of time.

Living Will or Health Care Proxy
By creating a living will, you can articulate your beliefs on life-sustaining measures. With a health care proxy, you can name a trusted individual to make health care decisions if you are unable to do it. A health care proxy is used only for medical purposes. Like a living will, the health care proxy states when life-support equipment should be disconnected and medical efforts should cease.

Let Us Know
Making a planned gift to Pusch Ridge Christian Academy or Cornerstone Christian Academy takes careful planning and thought. Once you have decided to make such a gift, we hope that you will let us know.



The information on this site is not intended as investment, tax or legal advice. For such advice please contact an attorney, tax professional or investment professional.

 

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