Planned Giving and Bequests
Simply put, when a person leaves this world to enter God’s kingdom, his/her money and other assets will go to people, organizations, or the government. 84% of people pass on without a will. Now is the time to make sure your estate goes where you desire.
Halifax Urban Ministries can work with your own advisers or assist with linking you to people who can help with PLANNING to make sure that your loved ones and your cherished ministries are the primary beneficiaries of the blessings that God provided for you during your lifetime.
Halifax Urban Ministries partners closely with Thrivent Financial – a faith-based membership organization whose purpose is to strengthen communities by helping members be wise with money and inspiring them to live generously. Your will and various life income agreements are ways that you can include Halifax Urban Ministries in your estate planning.
Charitable Gift Annuity
Charitable Remainder Trust
Pooled Income Fund
Charitable Remainder Trust
Pooled Income Fund
Your Will
Planned Giving Options:
Charitable Gift Annuity
A Charitable Gift Annuity arrangement with Halifax Urban Ministries is a gift that will also provide you with a guaranteed annual income for the rest of your life. Upon your death, the remaining portion of the annuity becomes a gift to the work of HUM, helping the poor and homeless. In essence, your gift keeps on giving even after the end of your life. A Charitable Gift Annuity can provide for the future of HUM, generate a life-long income stream for you and give you a substantial tax deduction.
Charitable Remainder Trust
A Charitable Remainder Trust involves irrevocable gifts placed in trust with the named beneficiary(ies) receiving a fixed income (in the case of an annuity trust) or a variable income (in the case of a unitrust) for life or for a term of years not to exceed 20. Like all charitable gift annuities and the pooled income fund, you avoid tax on capital gains when appreciated assets are placed in trust. Upon termination, the remaining corpus is made available to the mission and work of Halifax Urban Ministries.
A Charitable Remainder Trust involves irrevocable gifts placed in trust with the named beneficiary(ies) receiving a fixed income (in the case of an annuity trust) or a variable income (in the case of a unitrust) for life or for a term of years not to exceed 20. Like all charitable gift annuities and the pooled income fund, you avoid tax on capital gains when appreciated assets are placed in trust. Upon termination, the remaining corpus is made available to the mission and work of Halifax Urban Ministries.
Pooled Income Fund
A Pooled Income Fund is somewhat like a mutual fund except that withdrawals cannot be made. Each gift to the pool is assigned units and the value of these units changes with market conditions. Donors receive payments for life and avoid capital gains taxes on gifts of appreciated securities. The amount of payment can increase over time Upon your death, Halifax Urban Ministries withdraws the units and puts them to work according to the wishes you expressed at the time you made the gift.
A Pooled Income Fund is somewhat like a mutual fund except that withdrawals cannot be made. Each gift to the pool is assigned units and the value of these units changes with market conditions. Donors receive payments for life and avoid capital gains taxes on gifts of appreciated securities. The amount of payment can increase over time Upon your death, Halifax Urban Ministries withdraws the units and puts them to work according to the wishes you expressed at the time you made the gift.
Your Will
Every person, regardless of the other estate planning tools they may have, should prepare a will. If you don’t have a will, your state has one for you and, upon your death, the state will distribute your estate according to law. Special needs of your family and your personal wishes will not be taken into consideration nor will the state consider your charitable interests. Everyone who owns property, has investments or savings, has dependents or who wants to gift our ministry or other charities at death needs a will. A will is flexible. You may change it at any time.
Every person, regardless of the other estate planning tools they may have, should prepare a will. If you don’t have a will, your state has one for you and, upon your death, the state will distribute your estate according to law. Special needs of your family and your personal wishes will not be taken into consideration nor will the state consider your charitable interests. Everyone who owns property, has investments or savings, has dependents or who wants to gift our ministry or other charities at death needs a will. A will is flexible. You may change it at any time.
If you would like more information on the options available please fill in the form below and we will have a planned giving adviser contact you.