What is Planned Giving?

A COMMON MISCONCEPTION IS THAT GIFT PLANNING IS ONLY FOR THE “WEALTHY.”

The truth is, even people of modest means can make a difference through gift planning. Gift planning is finding ways to make charitable gifts now or after your lifetime while enjoying financial benefits for yourself.

Planned gifts require planning and in many cases require the assistance from your professional advisors. Unlike cash donations, they are typically made from assets in your estate rather than disposable income and come to fulfillment upon your death. The most common gift is a bequest in your will or living trust. Other planned gifts can include retirement plan assets, life insurance or a charitable gift annuity.

It is also important to consider how you want your gift to be used. The following list summarizes many of the options:

When planning a bequest to the BBFI Mission Office, you should think about how you want your gift to be used. The following are some of the ways you can designate your bequest:

  • Unrestricted Gifts – These are especially valuable to the BBFI Mission Office as they allow the BBFI Mission Office to fulfill its highest priorities when your bequest arrives.
  • Restricted Purpose – Restricted gifts can support important initiatives such as building projects, Candidate School, disability, medical funding and etc. You can direct your bequest to any approved program of the BBFI Mission Office.
  • Current Use or Legacy – Establishing a current use fund for a specific program allows the BBFI Mission Office the flexibility of using the full amount of your gift.
  • Trust Fund – Establishing a trust fund creates a permanent legacy, providing income every year in perpetuity to carry out its purposes. If you make a gift to the BBFI Mission Office each year, you can perpetuate that gift with a bequest equal to 20 times its size. For example, a bequest of $100,000 can create a trust fund that will distribute approximately $5,000 each year, adjusted for inflation, to the BBFI Mission Office for years to come.

If considering this option, please contact Brian Garrison at 417.862.5001 or bgarrison@bbfimissions.com to learn how you can create a trust fund and ensure your family’s financial security.

This article is not intended to be investment advice; because your tax situation may be unique, always consult your attorney, tax advisor or financial advisor about the plan best suited to meet your needs.