Thermal Belt Outreach Ministry
Planned Gifts
You believe in the great work of Thermal Belt Outreach Ministry (Outreach) and you desire to ensure that we will be there for future generations of families in crisis. As such, you want your gift to make a lasting difference at Outreach and in the lives of those we serve, but are concerned about your future financial needs and those of your family.
If this is you, then the following information concerning planned gifts to Outreach can help. In addition, if you have questions about planned gifts to Outreach, then please contact us to receive additional information about how you can help your family as well as your Outreach Family.
If this is you, then the following information concerning planned gifts to Outreach can help. In addition, if you have questions about planned gifts to Outreach, then please contact us to receive additional information about how you can help your family as well as your Outreach Family.
Bequests
The most common and simplest form of planned giving is a bequest. A bequest is a gift of asset(s) that is made through the donor(s) will. By including Thermal Belt Outreach Ministry (Outreach) in your will or bequest, you are securing needed services and programs for children and families in crisis today and for the future. If you have already left a lasting legacy through your will to Outreach, but have not informed us, please take the opportunity to contact us and inform us of your wonderful gift. This allows us to know what to expect and announces you as the donor so that we may thank you in the appropriate fashion. Click here and learn how to make provisions in your will for Thermal Belt Outreach Ministry.
A typical bequest donor:
- Wants to complete a gift while keeping assets available during life.
- Has assets beyond those intended for heirs.
- Wants to remember or honor a family member.
- Wishes to start a family legacy of giving.
- Owns assets that may not be suitable as a gift to heirs.
- Cares about the future of Thermal Belt Outreach Ministry.
A typical bequest donor:
- Wants to complete a gift while keeping assets available during life.
- Has assets beyond those intended for heirs.
- Wants to remember or honor a family member.
- Wishes to start a family legacy of giving.
- Owns assets that may not be suitable as a gift to heirs.
- Cares about the future of Thermal Belt Outreach Ministry.
Charitable Remainder Trusts
A gift to Outreach through a charitable remainder trust can be accomplished by the creation of an irrevocable trust, established by the donor with the assistance of his or her attorney.
Assets such as cash, appreciated stock, bonds or real estate are contributed to the trust, which is managed by a trustee. The trustee may sell the assets and reinvest the sale proceeds. The trust makes regular payments to beneficiaries named by the donor at the time the trust was established. These payments can be made for the lifetime(s) of the beneficiary(ies) or for a specified term of up to twenty years. After the lifetime of the last surviving beneficiary, or at the end of the specified term, the trust terminates. The trust principal or "remainder" interest is then distributed to Outreach for the purposes designated by the donor.
Two Types of Remainder Trusts to Consider:
1. Charitable Remainder Unitrust (CRUT)
A CRUT provides a variable remainder annual payment based on the trusts assets as revalued annually. Donors that prefer a fixed income amount without an
annual variability should consider the CRAT. However, if you prefer a flexible trust where the payout amount can go up or down, then the CRUT is a
great choice.
2. Charitable Remainder Annuity Trust (CRAT)
The CRAT provides a "fixed" annual payment that can be expressed as a percentage or a dollar amount of the value of the initial trust assets. The annual
payment amount does not change over time.
Assets such as cash, appreciated stock, bonds or real estate are contributed to the trust, which is managed by a trustee. The trustee may sell the assets and reinvest the sale proceeds. The trust makes regular payments to beneficiaries named by the donor at the time the trust was established. These payments can be made for the lifetime(s) of the beneficiary(ies) or for a specified term of up to twenty years. After the lifetime of the last surviving beneficiary, or at the end of the specified term, the trust terminates. The trust principal or "remainder" interest is then distributed to Outreach for the purposes designated by the donor.
Two Types of Remainder Trusts to Consider:
1. Charitable Remainder Unitrust (CRUT)
A CRUT provides a variable remainder annual payment based on the trusts assets as revalued annually. Donors that prefer a fixed income amount without an
annual variability should consider the CRAT. However, if you prefer a flexible trust where the payout amount can go up or down, then the CRUT is a
great choice.
2. Charitable Remainder Annuity Trust (CRAT)
The CRAT provides a "fixed" annual payment that can be expressed as a percentage or a dollar amount of the value of the initial trust assets. The annual
payment amount does not change over time.
Gifts of Real Estate
If you are considering a gift of real estate or retained life estate, please contact the Development Office at 828-894-2988. Thermal Belt Outreach Ministry considers all types of real estate as potential gift property, such as: ·
- Undeveloped Land
- Commercial
- Farm Land
- Resort Properties
- Residential
- Gift of Retained Life Estate
Real Estate Assessment & Acceptance Guidelines:
In order for Thermal Belt Outreach Ministry to consider or accept a gift of real estate or retained life estate, an evaluation is needed that should contain the following: Market Value and Marketability, Potential Environmental Risks, Limitations and Encumbrances, Carrying Costs and Title Information.
Gifts are real estate are generally completed by the transfer and delivery of a deed or gift. Thermal Belt Outreach Ministry is not permitted to assign a value to the gift of property. For tax deduction purposes, the donor will need to establish a value at the donor's expense using a qualified appraiser as required by the IRS.
- Undeveloped Land
- Commercial
- Farm Land
- Resort Properties
- Residential
- Gift of Retained Life Estate
Real Estate Assessment & Acceptance Guidelines:
In order for Thermal Belt Outreach Ministry to consider or accept a gift of real estate or retained life estate, an evaluation is needed that should contain the following: Market Value and Marketability, Potential Environmental Risks, Limitations and Encumbrances, Carrying Costs and Title Information.
Gifts are real estate are generally completed by the transfer and delivery of a deed or gift. Thermal Belt Outreach Ministry is not permitted to assign a value to the gift of property. For tax deduction purposes, the donor will need to establish a value at the donor's expense using a qualified appraiser as required by the IRS.
Life Insurance
Consider a paid-up life insurance policy as a gift to Thermal Belt Outreach Ministry. Contact us to learn more about how you can leave a lasting legacy to Thermal Belt Outreach Ministry.
