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Your Legacy. Their Lives.

 

Planned giving to the HSOMC through your estate plan provides you with the opportunity to make a lasting contribution to the welfare of countless animals in our community long after your passing. There are several ways that you can provide a legacy gift to the HSOMC through your estate plan.

 

Bequest in Your Will

 

Your bequest to the HSOMC can be a:

 

Specified amount of cash, an investment fund or piece of property

Percentage of the entire estate or percentage of a specified investment

Contingent designation taking effect only if your other beneficiaries fail to survive you 

 

Trusts

 

Revocable Living Trusts: Revocable Living Trusts are not subject to probate. They remain private and avoid public scrutiny. When you die, a trust will save time, expense, publicity and frustration for those you love. Trusts also assure seamless administration of your assets at your death or in the event you become incapacitated.

 

Charitable Remainder Trusts: A Charitable Remainder Trust enables you to contribute to the HSOMC and receive guaranteed payments for life or a period of years through a trust designed by you with the help of your lawyer. Payments may either be a fixed amount or a fixed percentage of the trust assets. A Charitable Remainder Trust offers gift, estate and income tax benefits. Because you design this trust yourself, it is more versatile than a Charitable Gift Annuity.

 

Charitable Lead Trusts: The reverse of a Charitable Remainder Trust, a Charitable Lead Trust will pay the HSOMC income during your life, someone else’s life, or for a fixed number of years. Your beneficiaries will receive the remainder. You will be able to design the trust to fit your particular needs. Charitable Lead Trust assets are not taxable in your estate when you die, thereby providing valuable income, gift and estate tax benefits.

 

Charitable Gift Annuities: You can contribute to the HSOMC of and receive guaranteed payments for the rest of your life or for the joint lives of you and your spouse or another individual. You will receive an income tax deduction when you make the gift and valuable tax benefits each year.

 

Life Insurance Benefits: from life insurance owned by you at the time of your death will be included in your estate. If you designate the HSOMC as the beneficiary, your estate will receive an estate tax deduction equal to the full amount of the insurance benefit. You can donate an existing policy and receive a tax deduction for the current value now.

 

You may consult with your attorney regarding leaving a gift through your estate plan to the HSOMC. Additionally, the HSOMC has partnered with a local law firm, Malicoat Law, PLC to provide no cost estate planning consultations to those considering leaving a legacy gift to the HSOMC. Malicoat Law, PLC may be reached at 989-495-2555 or www.malicoatlaw.com .

 

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