David and Ann's Story - Wills and Bequests Print E-mail

Helping out with the little things...

David and Ann picture in wills and bequests example page David and Ann originally established a fund that would help the ministry purchase needed equipment, supplies, and provide for maintenance.

Initially, they had made an outright gift of some appreciated stock. It was later, after their experiences with the staff, that they changed their will to include a bequest that will magnify the fund tenfold.

Ann: "We felt good about helping through establishing a small fund. But we had no idea what the fund would bring to us."

David: Over the years, we have met with some of the people involved who are on the front lines - doing the work. We've even been able to help a little ourselves.

I can't describe how good it feels to sit with these people, to hear them describe their circumstances - where they came from and where they are now. To hear about their ambitions and how we've helped - to learn about their successes that we helped fund.

What a joy to realize that we have become a part of their future and that these people have literally become a part of our family."

Ann: "I feel like we really have accomplished something good!"

A Wise Financial Move...

Setting all the emotional rewards aside, this was a wise financial move.

  • First, there were some immediate tax benefits on the initial gift based not on the cost of the stock, but on its appreciated value.
  • Second, their estate will benefit by having a write-off to charity through the bequest (see bequest information).


Using funds from a retirement account to make bequests is often a good strategy. If there is a balance in your retirement account at your death, not only is there a potential income tax burden, but there may be estate taxes as well.

Estimates are, taxes could eat up as much as 70-75% of retirement assets under certain circumstances. Careful planning concerning your retirement funds can help you keep them out of government hands and working for God's Kingdom.

Ann and David found their experience enriched their hearts and lives. Often our financial partners are surprised by just how wonderful the giving experience really is.

Additional information regarding retirement assets is available by reading about Norman and Ruth.

Yes, I would like to learn more about making a Bequest!

Learn more about making a bequest to the Gospel Rescue Mission by calling Danny Hansen at 520-740-1501. You may also email Danny by using our Information Request Form

 

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