A planned gift is an excellent tool for you to create a personal legacy
during and after your lifetime. However, the
type of planned gift you bequeath can create some unintended tax consequences
for your loved ones. Some of your assets are more tax-friendly than others!
EXAMPLE: Ruth wants to make a legacy gift of $100,000 and leave the rest of her
estate to her son, Paul. Her estate includes appreciated stock and retirement
assets. She decides to name her favorite charity as the IRA beneficiary,
and she leaves the stock to Paul. The charity receives the IRA funds tax-free,
so the full amount supports her values. Paul would have paid income tax
if he received the IRA funds! For his stock, he pays tax only on the amount
the stock appreciates after inheritance.
The MHP Foundation has a gift for you and your loved ones – a values
based estate planning service. We have contracted with the firm Thompson
& Associates of Nashville, TN. Our associate, Brian Cohoon, works
with you to create a list of recommendations for an estate plan that reflects
your values. You then take the list to your own professional advisors
for execution. Brian can also provide an unbiased opinion about your options
for existing planned gifts. Thompson & Associates does not sell products,
make fundraising asks, or execute documents.
There is absolutely no charge or obligation to give to the MHP Foundation.
If you are interested in this service, please contact the MHP Foundation office at
(317) 421-0361 or by emailing firstname.lastname@example.org.