A Plan for This Life and Beyond

“Everything is taken care of.”

Whether you’re at work, on vacation, or in the middle of a busy time at home, that five-word sentence can be music to your ears. But when it comes to financial planning, can you ever be sure that everything is taken care of?

“If I retire, will I have enough to live on?  Can I afford to continue to support the ministries I care about?”

“Can I be sure that my family will be provided for, no matter what happens?”

“When all is said and done, has my life made a difference in this world?”

The Baptist Home’s Options for Planning can help you answer all those questions.  We can help set up a plan for organizing your estate with a will or trust, providing for you and your family through gift annuities, and supporting the Kingdom work of The Baptist Home through a variety of planning options.

Last Will and Testament: In a Will, you can provide for the needs of your spouse and other family members, and assure that some of your resources will continue to support the Lord’s work after your passing.

Revocable Living Trust: A revocable living trust can accomplish your estate planning objectives in much the same way as a Will. But a properly funded trust accomplishes lifetime objectives as well. The trust can provide management of assets during your lifetime. This feature of a trust is especially beneficial if you ever become incompetent.

Revocable Self-Declaration Trust: Allows the grantor to act as your own trustee. Under this option, you can manage your own assets as long as you are able and wish to do so. But the mechanism is in place for a successor trustee to take over management of your trust should that become necessary or desirable.

Living Trust: An excellent tool to use in reaching your goals of Christian stewardship by naming The Baptist Home as a charitable beneficiary. The staff of TBH can help you determine who should the trustee of your revocable living trust, or successor trustee of your self-declaration trust.

Gifts of Life Insurance: It may be possible for you to leave a substantial gift to TBH at your death through a gift of life insurance. If you transfer ownership of an insurance policy to The Baptist Home, you will be entitled to an immediate income tax deduction equal to the cash value of the policy. You may make annual deductible contributions to enable The Baptist Home to pay the policy premium. And, at your death The Baptist Home will receive a benefit larger than you may have thought possible.

Beneficiary Designations: Another way to benefit The Baptist Home at your death is by naming The Baptist Home as beneficiary of an IRA or other retirement account. Since The Baptist Home is tax-exempt, it will benefit from the full value of the retirement account, and will not have to pay income tax on these assets as family would have to pay.  An IRA is the best asset to leave to charity at the estate owners’ death. The Baptist Home can also be named as a P.O.D. (Pay on Death) beneficiary of a bank account or T.O.D. (Transfer on Death) beneficiary for a securities account.

Remainder Interest in a Home or Farm: The tax laws allow you to transfer title of a home or farm to The Baptist Home, while retaining a life estate for yourself. You will be entitled to reside in the property and to receive all income from the property for the rest of your life. Upon death, the home or farm becomes the property of The Baptist Home. If the transfer is irrevocable, you receive an income tax deduction at the time of transfer.

Charitable Gift Annuities: A gift annuity is an arrangement whereby a donor gives a sum of money or publicly traded securities to The Baptist Home. In exchange, The Baptist Home pays a fixed lifetime income to the donor. A charitable gift annuity can also be set up for two-lives, to provide payments to the donor and a spouse or other beneficiary.

Charitable Remainder Unitrust: A Charitable Remainder Unitrust is an irrevocable trust, which pays income to one or more beneficiaries, and distributes the remainder to charity after the death of the beneficiaries, or a term of years.

*Important Note:Whether you leave money to The Baptist Home through your Will, Trust, or by beneficiary designation, all of these gifts are removed from your taxable estate, and are not subject to federal estate tax.

The Right Plan for You
The Baptist Home stands ready to assist you in your planning. Please contact us for further information. The Baptist Home has Stewardship Representatives who can call on you in your home or office to discuss your giving options and estate planning needs. For more information, call toll free at 866-454-2709.