Estate Planning

SOME WAYS YOU CAN PARTNER WITH THE
CAPUCHINS THROUGH YOUR ESTATE PLAN

Charitable Bequest

A charitable bequest (through your will or living trust) offers you a way to provide lasting support for the Capuchin Province of Mid-America beyond your own lifetime. You may state your intentions:

• In terms of a percentage of the entire estate
• As the residue (property and assets remaining after all bequests to family and others have been satisfied) or portion thereof
• As a specific dollar amount
• Designated as a memorial to commemorate a family member or particular individual

Life Insurance Policies

Frequently overlooked as a source for donations, life insurance policies that have outlived their original purpose can translate into a significant gift to the Capuchins. These original purposes might have been:

• To protect a spouse -- who has since died
• To protect a child -- who is now a financially independent adult
• To complete a mortgage -- that has now been paid off
• To provide retirement income -- that is now being covered through an Individual Retirement Account
• To provide a guarantee for your children's education -- although that education has since been paid for using other funds
• To provide funds to pay federal estate taxes -- that have been substantially changed in recent years
• To protect a business -- that no longer exists or no longer needs the protection
• A small policy your parents purchased for you when you were a child

There are a number of ways such policies can be converted to benefit the Capuchins, depending upon your wishes and financial situation.

Retirement Funds

Retirement funds have lately become a major asset in many estates. Without proper planning, individuals may lose up to 80 percent of their IRA to taxes. Retirement fund gifts to a child or grandchild often end up being very costly due to estate taxes, income taxes, generation-skipping taxes and penalties. Using IRA assets to fund a gift to the Capuchin Province of Mid-America can help you preserve these assets.

We would be happy to provide more information to you on any of these topics without obligation. Contact the Capuchin Development Office or speak with your personal financial advisor. Recognition is given (with permission of the donors) in the St. Conrad Circle.

Questions or suggestions? Contact our webPorter.