Many of us during the later stages of our lives worry about the future. Our thoughts focus on the continuing welfare of our children or grandchildren, sustaining our positive impact on the world that has given us so much and insuring the future viability of institutions and organizations that are near and dear to us.

Fortunately, there are many financial instruments to satisfy these three goals including:

Bequests

Bequests : There are many options and methods for letting your will be known and creating a brighter and more secure future for Yestermorrow. The bequeathing of money, property, stocks, bonds or a percentage of one's estate is a simple but meaningful act. Yestermorrow's development folks stand ready with answers to your questions and draft language for your will.

Trusts, Funds and Annuities

Charitable Remainder Trusts: There are several options for remainder trusts as well. The basic concept here being that a gift is made to Yestermorrow and held in trust for a designated period with specified revenue going to the donor or designee. After the term has expired the remainder of the trust is transferred to Yestermorrow. Tax benefits to the donor are based on the present value of the gift and vary depending on the donor's circumstance.

Charitable Lead Trusts: Charitable Lead Trusts are similar to Charitable Remainder Trusts in that an amount is placed in trust. In this case, however, the revenue goes to Yestermorrow for a specified period of time and the remainder is returned at maturity to the donor or designee. Here the donor receives a tax deduction for the present value of the future payments.

The donor receives a tax deduction for the present value of the remainder interest, less depreciation and depletion.

Charitable Gift Annuities: Gift annuities are for donors who want to make a gift but also need to make sure that they receive a set income from that gift for their lifetimes. Tax benefits accruing to donors depend on the duration of the annuity payments and the percentage of the principle returned to the donor.

In addition to the above, there are also options for donating life insurance policies, portions of individual retirement accounts, as well as the potential for the creation of pooled income funds. Yestermorrow staff can work in concert with your financial adviser to answer your questions about all these types of gifts and their tax benefits. Please let us know how we can help with your estate planning so that you can provide for your heirs, lower you tax liability and help Yestermorrow prosper long into the future. For more information, please contact Bob Ferris at bob@yestermorrow.org.