Ways to Make a Planned Gift

Have you ever considered making a planned gift to charity? It is satisfying to support an organization that has been important to you during your lifetime. People of all ages should have a Will or Trust to direct the distribution of their assets after they die. With a Will or Trust you can also make a difference by leaving a gift to non-profit organizations like Mount Olivet Home, Mount Olivet Careview Home, and Mount Olivet Day Services. For more imformation about estate planning click here for Guide to Estate Planning or click here for Estate and Gift Taxes. Below is a list of charitable gifts you can make in your estate plan.

Wills and Trusts:

Bequests: Leave your legacy for Mount Olivet Home, Mount Olivet Careview Home, or Mount Olivet Day Services by making a bequest in your Will or Trust. A bequest is one of the simplest ways to remember those you care about.

Sample bequest language:

  1. Specific Bequest – I give the sum of $1,000 to Mount Olivet Home, Mount Olivet Careview Home, or Mount Olivet Day Services to be used for the greatest need.
  2. Share of Estate – I give an amount equal to 10% of my gross estate to Mount Olivet Home, Mount Olivet Careview Home, or Mount Olivet Day Services, to be held in perpetuity in the Mount Olivet Home, Mount Olivet Careview Home, or Mount Olivet Day Services Foundation.
  3. Share of Remainder of Estate – I give one half of the remainder of my estate to Mount Olivet Home, Mount Olivet Careview Home, or Mount Olivet Day Services.
  4. Specific Assets – I give 30 shares of Jones Power Company common stock to Mount Olivet Home, Mount Olivet Careview Home, or Mount Olivet Day Services.
  5. Contingent Gift – If my spouse does not survive me, I give the sum of $10,000 to Mount Olivet Home, Mount Olivet Careview Home, or Mount Olivet Day Services to be used for resident life enhancements.

Any one of these gifts can be designated for a specific purpose. Click here for more information.

Income Producing Gifts

Charitable Gift Annuity: The first charitable gift annuity dates back to 1843 when a merchant in Boston donated money to the American Bible Society in exchange for an income stream. Today, this kind of gift is popular because the older you are the greater the income stream, which you receive for your lifetime. There can be significant tax benefits. Click here for more information. To receive a personalized charitable gift annuity illustration, please contact Mari Carlson, Director of Development, 612.821.3150, mcarlson@mtolivethomes.org .

Charitable Trusts: There are a variety of charitable trusts you can establish with numerous benefits to the donor including possibly increasing your income and tax advantages. Charitable trusts can also help you provide an inheritance for your loved ones.

Beneficiary Designation

Retirement Assets
: It is simple to make Mount Olivet Home, Mount Olivet Careview Home, and Mount Olivet Day Services a beneficiary of an IRA account or other retirement plan. Since these assets have never been taxed, they make ideal gifts for nonprofit organizations. Contact your retirement plan administrator and request the appropriate form. Click here for more information.

Life Insurance: You can gift life insurance to provide a charitable gift by making Mount Olivet Home, Mount Olivet Careview Home, and Mount Olivet Day Services the beneficiary of your policy or by purchasing a new policy to benefit Mount Olivet Home, Mount Olivet Careview Home, and Mount Olivet Day Services. Contact your insurance agent for the appropriate form. Click here for more information.

Real Estate and Tangible Personal Property

Transfer on Death Deed:
This deed transfers ownership of real estate to a named beneficiary outside of a Will or Trust and takes effect upon the death of the owner. It is a simple way to make a gift of your home or other property to a charity.

Retained Life Estate: You can donate your home, one of your most valued possessions, while you are still living in it, even if you want your spouse or other survivor to live in the home for their lifetime.  Click here for more information about real estate gifts.

Tangible Personal Property: Gifts to charity of tangible personal property commonly include: artwork, jewelry, other collectibles, motor vehicles including cars boats, etc., agricultural products, and business related items and equipment.

For more information about the ways to make a planned gift, call or email Mari Carlson, Director of Development, 612.821.3150, mcarlson@mtolivethomes.org.

This information is not intended as legal services or advice. You should consult with your tax and legal professionals as to the applicability of any items to your personal situation.

 

Mount Olivet Home - Mount Olivet Careview Home

Mount Olivet Home
Mount Olivet Careview Home

5517 Lyndale Avenue South
Minneapolis, MN 55419

612.827.5677

Mount Olivet Day Services

Mount Olivet Day Services

5601 Lyndale Avenue South
Minneapolis, MN 55419

612.861.3305