Common Types of Financial Planning

Bequests by Will- Specific or Contingent

With a provision in your Will, a certain percent of your estate or a specific amount of money, or property, can go to Red Bird Mission for its general purposes at your death, (if you are not survived by a spouse) or at the death of your spouse (if you have provided a life estate or trust for your spouse's benefit).

Life Insurance- Beneficiary or Owner

Name Red Bird Mission as beneficiary of all or part of the proceeds either at your death as primary or alternate beneficiary. Or, make Red Bird Mission the owner of a policy which you now own but no longer need, or which you purchase expressly for the purpose of making a gift.

Retirement Plan Accounts

Name Red Bird Mission as a beneficiary of all or part of the balance of your retirement plan accounts at the time of your death. If married, you can name the Mission as a contingent beneficiary.

Pooled Income Fund

Transfer money of securities to a Pooled Income Fund, reserving life income for yourself, for as long as you live; for yourself and for your spouse for as long as either one of you lives; or for someone else you care for, as long as they live. The principal will go to Red Bird Mission at the death of the last surviving income beneficiary.

Charitable Gift Annuities

Transfer money or securities to establish a Charitable Gift Annuity where you (and your spouse, if married) will receive an annuity payment for the remainder of your lives. The remainder value of the annuity will go to the Mission at the death of the last surviving income beneficiary.

A "TOTTEN" Trust

Establish a savings account at a bank in your name as trustee for Red Bird Mission. During your lifetime, you may make deposits and withdrawls at will and take the interest earned. Any balance in the account at your death belongs to the Mission.

Charitable Remainder Trust- Unitrust or Annuity Trust

Create a trust with money or property providing that the trustees will pay a specified income to you and/ or others you name for life, and upon the death of the last named beneficiary, the trustee will distribute the principal to specified charities proportionally.

Charitable "Lead" Trust

Create a trust with money or property providing that the trustee will pay a specified income to Red Bird Mission for a specified number of years, and at the end of the period, the trustee willl distribute the principal to you or others you name.

Real Estate- Residence, Farm

Transfer the title to the residence or farm real estate to Red Bird Mission now, reserving lifetime use and occupancy of the property for yourself as long as you live, or for yourself and your spouse as long as either lives. You and/or your spouse remain responsible for all taxes and expenses incident to the use of the property, including insurance, as long as you and/or your spouse live.

Please Note:

The information here is only intended as an educational tool. Please contact your legal or financial advisor before making a decision about any planned gift.

 

If you are ready to begin the process to receive your free financial planning report with recommendations please email:
Mission Advancement or call 606.598.3155

Thank you for your interest in the future of Red Bird Mission!