The part of an estate left after debts, taxes and specific bequests have been paidĪ written and properly witnessed legal change to a will The person receiving the gift annuity payments. The price a willing buyer and willing seller can agree on The growth in value of an asset like stock or real estate since the original purchase The original value of an asset, such as stock, before its appreciation or depreciation Tax on gifts generally paid by the person making the gift rather than the recipient They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes. "I give to Focus: HOPE, a nonprofit corporation currently located at 1400 Oakman Boulevard, Detroit, Michigan 48238, or its successor thereto, _ for its unrestricted use and purpose."Ī revocable living trust is set up during your lifetime and can be revoked at any time before death. Privacy Policy | Cookie PolicyĪ charitable bequest is one or two sentences in your will or living trust that leave to Focus: HOPE a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.Īn individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. California residents: Annuities are subject to regulation by the State of California. State law may further impact your individual results. References to tax rates include federal taxes only and are subject to change. Figures cited in any examples are for illustrative purposes only. For such advice, please consult an attorney or tax advisor. The information on this website is not intended as legal or tax advice. Information contained herein was accurate at the time of posting.
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