Our Mission

Be Concerned is deeply com-
mitted to honoring the dignity
and humanity of all persons.

Its purpose is to assist low-
income people of Northern
Kentucky in obtaining basic
necessities for life.

Tuesday, October, 17, 2017

Legacy Gifts

Gift in your will or living trust                                                                                                                                        
   
One of the simplest and most convenient ways to make an impact at Be Concerned without affecting your current financial situation is to leave a gift in your will.

     You can give a percentage of your estate, so that your gift will remain proportionate to the size of your estate, or you can give a certain amount of cash, securities or property. In any case, your gift allows you to retain full control of your assets now, while ensuring that Be Concerned will continue to be able to provide basics for families struggling to survive.
    Benefits to you
    • Easy. A few sentences in your will or living trust complete the gift.
    • Revocable. Until your will or trust goes into effect, you are free to change your plans.
    • Versatile. You can leave a specific item, an amount of money, a gift contingent upon certain events or, most common, a percentage of your estate.
    • Tax credits. Your estate is entitled to an unlimited estate tax charitable deduction for gifts to qualified charitable organizations such as Be Concerned.
   How to make your gift
   1. Determine whether you’d like to make a gift of a specific amount or leave a percentage of your estate, and whether you would like to direct your gift to a specific program at Be Concerned or leave your gift unrestricted, allowing it to be used for our most pressing needs.
   2. Take our bequest language to your estate planning attorney to include in your will or living trust.
   3. Contact Be Concerned to inform us of your gift so we can thank you and ensure your bequest will be fulfilled in the manner you intend.

Retirement Plan Assets                                                                                                                                                      
     IRAs, 401Ks, 403Bs, and other retirement accounts are subject to heavy income and possible estate taxes when you name anyone other than your spouse as a beneficiary. Such taxes can take a substantial bite out of your hard-earned savings, leaving less for your heirs than you had hoped.
   If you’re pondering an estate gift to Be Concerned, consider a tax-saving strategy of naming Be Concerned beneficiary of all or part of your retirement plan assets, reserving other, less-taxed assets for your heirs. Because of our tax-exempt status, income and estate taxes are eliminated, allowing the full value of your retirement plan assets to make a difference in the lives of people depending on our free pantry to eat.
    Benefits to you in addition to tax savings
   • Easy
   • Revocable. If you need to change or revoke your gift at any point during your lifetime, you can.
    How to make your gift
    1. Contact your retirement plan administrator for a simple change-of-beneficiary form. Decide what percentage (1–100) of your plan assets you would like Be Concerned to receive.
 
2. Name Be Concerned and list the gift percentage to it on the form.
3. Return the form to your plan administrator.
4. Contact us to let us know of your plan.
Note: Check with your plan administrator to determine if you can use your plan on-line account to change beneficiaries.

Life Insurance   
           
                                                                                           

        Life insurance offers a relatively inexpensive way to provide a substantial gift to Be Concerned.
    Two ways to do it
    1. Name Be Concerned as beneficiary of a policy.  Either name us as primary beneficiary for a percentage of the policy or name us as contingency beneficiary to receive a payout only if the primary beneficiary dies before you do.
    2. Name Be Concerned as owner of a policy. You may be entitled to a federal income tax deduction for the value of a policy, future annual premiums or both when you transfer ownership of an existing policy or purchase a new policy and name us as the owner.

Charitable Remainder Trusts          
                                                                                                                                   
     
With a CRT, you create the trust and fund it with assets, such as cash, real estate or appreciated securities. You receive income (either a variable or fixed dollar amount) from the trust each year for the rest of your life or for a period of up to 20 years. At the end of the trust term, the balance in the trust goes to Be Concerned.

    Benefits to you
    • A partial charitable deduction for income tax purposes.
    • Up-front capital gains tax elimination.
    • Potential for increased disposable income.
    • Estate and gift tax charitable deductions
    How to make your gift 
   1. Decide which asset to donate. You can fund your trust with a variety of assets. Appreciated securities you’ve owned for more than one year are an ideal choice, because you could possibly boost your cash flow with a higher payout from the trust.
   2. Choose who receives the payment. Your trust can make payments to you and other beneficiaries you choose, such as a spouse or a child.
   3. Identify the income you want from the trust. The rate of payment must be at least 5 percent of the trust asset’s value.
   4. Determine the length of the trust. The term of your trust can be the lifetime of the beneficiaries you select or for a period of up to 20 years.
   5. Contact us. We can help you determine, with your financial advisers, if creating a charitable remainder trust is right for you.