As a member of Central Baptist Church, many of the blessings we enjoy today are the products of dedication on the part of the people who, in the past, were not content with the status quo. Instead, they were committed to leaving future generations a rich inheritance on which to build. Today we have an oppurtunity to open a door to the abundant life Christ promised and to translate God's love into action through our estate planning.
Estate planning is sometimes referred to as "planned giving" or "deferred giving."
The objectives of estate planning are:
- Conserve estate assets for yourself and for those you love - your family and your church
- Bypass capital gains taxes
- Reduce current income taxes
- Reduce federal estate taxes
- Increase current income
There are several planned giving arrangements that will help you maximize your personal benefits and accomplish your charitable giving goals. Each planned giving arrangement can be structured to suit your individual situation.
Every adult should have a will. A well-drafted will makes your intentions clear and minimizes costs, expenses, and taxes. A gift to Central Baptist Church may be made in your will. In addition to a will, each individual should plan for management of his or her affairs in the event of a disability by having powers of attorney for medical and business purposes, and a living will.
There is a charitable gift with a donor receiving a lifetime benefit.
The basic types are:
- Charitable Remainder Unitrust
- Charitable Remainder Annuity Trust
- Charitable Gift Annuity
A direct charitable gift benefits the donor with income tax savings for the current year.
The most common outright gifts are:
- Real Estate
- Stock or other Securities
- Life Insurance
Planned Giving Assistance
As Christians and members of Central Baptist Church, our interest in estate planning goes beyond efforts to save or reduce taxes, although this is one legitimate objective. An important part of our Christian heritage in America is that we are provided opportunities for making gifts to charitable causes. Not only are these opportunities provided by our laws, they are also encouraged by the structure of the Internal Revenue Code. The Christian's gift through careful estate planning can continue to support our beloved church and other Christian causes even after death.
The services of a qualified attorney should be obtained to prepare the necessary instruments to carry out your wishes. Fees for such services should not be considered an expense, but rather an investment.
For further information, please contact Ed Jones or call the Church Business Office at 850-769-6000.