We are grateful for your support of Many Hands and want to be a resource as you consider your long-term estate planning. By including Many Hands in your planning, you can ensure that our organization, the people we serve, and the programs we provide will continue to receive support well beyond your lifetime.
Retirement Plans and Wills
One of the simplest ways to include Many Hands in your estate planning is by adding us as a beneficiary to your qualified retirement plans, such as IRAs or 401(k)s, or to your will. You can designate a portion or all of the funds to be distributed directly to our organization upon your passing. This is a straightforward way of supporting the causes that you care about and ensuring that your wishes are carried out after you pass away.
Trusts
Trusts offer more flexibility and control over how your assets will be distributed than a will. By establishing a charitable trust, you can add Many Hands to your estate plan and designate specific instructions on how your funds should be used. A charitable trust allows you to provide support long into the future.
Charitable Remainder Trusts, a specific type of trust, allow you as the donor to receive income during your lifetime while also making a future gift to Many Hands. Under this arrangement, the donor transfers assets into a trust, which provides income to the donor for a specific number of years or the remainder of their lifetime. Once the donor has passed away, the remaining assets are then transferred to Many Hands. Charitable remainder trusts offer a significant tax benefit to donors, as they provide an income tax deduction in the year the trust is established.
Charitable Gift Annuities
Charitable Gift Annuities are another option for donors who want to support non-profit organizations and continue receiving an income. In this arrangement, you would make a gift to Many Hands in exchange for a guaranteed stream of income for life. The amount of the income stream is determined by the size of the gift and the donor’s age. Like charitable remainder trusts, charitable gift annuities provide a significant tax benefit because the donor receives an immediate income tax deduction that is based on the present value of the gift.
Extended Legacy Giving
Extended Legacy Giving is a concept that is gaining popularity among donors who want to leave a lasting impact on the causes they care about most. Extended legacy giving involves creating a long-term endowment or establishing a donor-advised fund to support a non-profit organization in perpetuity. This type of giving allows donors to continue to support even after they are gone. Donors can choose to leave a specific amount of money or give a percentage of their estate to one or more non-profit organizations.
By including Many Hands in your long-term estate planning, you can leave a lasting legacy that will continue to make a difference long after you’re gone. Your support will play a vital role in changing lives and catalyzing life transformation through Christ. We are happy to answer questions about any of the ideas above; however, if you are interested in implementing something specific, please contact your attorney or trusted financial professional.
Want to learn more?
Contact:
Tyler Kamerman
Chief Development Officer
tkamerman@wearemanyhands.org
