Estate Gifts
If you are interested in including Graceworks Lutheran Services in your estate plans, we can help you consider options available to you, including:- Bequests
- Life Insurance
- Income Generating Gifts
Leave a legacy through a bequest
Leave a legacy simply by making a gift to Graceworks Lutheran Services through your will. You may either designate a specific dollar amount to benefit Graceworks Lutheran Services, or specify a percentage of your estate after other disbursements. A bequest can reduce the amount of your taxable estate which may increase the actual amount available to loved ones. Your bequest can be directed to benefit a specific program or be undesignated.
The following is sample bequest language for you to share with your attorney in drafting your last will and testament:
A specific dollar amount to benefit Graceworks Lutheran Services:
I leave Graceworks Lutheran Services (Federal Identification #31-0540159), a social ministry organization headquartered in Dayton, Ohio, $(dollar amount) to be used to support its programs and services.
A percentage of your estate to benefit Graceworks Lutheran Services:
I leave Graceworks Lutheran Services (Federal Identification #31-0540159), a social ministry organization headquartered in Dayton, Ohio, X% of my estate to be used to support its programs and services.
Please contact us at (937) 436-6888 if you would like additional information.
Designate Graceworks Lutheran Services with a Life Insurance policy
By designating Graceworks Lutheran Services as the beneficiary of a life insurance policy, you may provide a substantial gift to the organization while receiving an income tax deduction. This may be a simple way to leave a meaningful gift to the program of your choice.
- Giving life insurance policies can often result in a larger gift than you might otherwise be able to afford
- The named beneficiary receives all of the proceeds—your gift is not diminished by estate taxes or probate costs.
Generate income from your gifts
An individual can make a charitable gift that generates income for the donor's lifetime or a specified period of time. Gift options include Charitable Gift Annuities, Charitable Remainder Trusts and Pooled Income Funds.
Charitable Gift Annuities
More and more people are discovering the surprising benefits of making charitable gifts in the form of gift annuities.
A charitable gift annuity offers you a way to further the work of Graceworks Lutheran Services, while benefiting you by providing:
- Lifetime payments that may be partially tax free or taxed at lower rates than other income
- Tax savings
Charitable Remainder Trusts
With a charitable remainder trust, your gift is used to create a trust from which you receive regular payments. The payments can be made for your lifetime, for a fixed number of years, or a combination. At the end of the trust, the remainder benefits Graceworks Lutheran Services. You receive a charitable deduction for a portion of the gift. You may even avoid capital gains taxes, lower your income taxes and earn higher returns with this gift. The many benefits include:
- A reliable income that is not subject to market fluctuations
- An income tax deduction
- An opportunity to reduce estate taxes
Pooled Income Funds
A pooled income fund is a simple way to make a significant gift to Graceworks Lutheran Services. The fund combines your gift with the gifts of others who are also committed to our organization, and are invested jointly. Each contributor, or “investor,” receives a share of the income based upon the fund’s performance.
The many benefits include:
- Current income tax charitable deduction
- Income based on the performance of the fund
For more information, contact us at (937) 436-6888 or donors@graceworks.org.