Legacy Giving

Understanding Legacy Giving

Life planning includes stipulating your wishes for selecting the person who will speak on your behalf when you no longer can, for medical care, and for sharing your values with your heirs through an ethical will.  All are important steps in preparing for the future and for assuring your peace of mind.

Here are just a few of the many benefits of having a will:

•  You insure the wisest and most productive use of your resources to benefit those individuals and organizations you care about.
•  You direct the division of your property in the way you choose.
•  You select an executor (personal representative) who is qualified to settle your estate with careful attention to your wishes.
•  You devise an estate plan with the help of a qualified attorney and other advisers to minimize taxes on your estate.

You can change your will at any time and your personal decisions can make a profound impact. Here are some things you can do:

Specific Legacy Gift – This is a gift of a specific item(s) to a specific person.  This method assures your life-long friend received her heirloom broach.

General Legacy Gift – This is usually a gift of a stated sum of money.  This is used to assure that a person(s) of choice would each receive a certain amount of money from your estate.

Residual Legacy Gift – This is a gift of all the “rest, residual, and remainder” of the estate after all other bequest, debts, and taxes have been paid. This can be used with individual heirs or bequests to charitable organizations.

Rose Legacy Gift – this was established to recognize the kindhearted generosity of those individuals who have supported Luther Park Community in their wills or other estate gifts. A Rose Legacy Gift is made up of individuals who:

•  May had a loved one that suffers from memory loss.
•  Wish to assure quality of care for seniors.
•  Have a desire to support Luther Park Community’s mission beyond their lifetime.
•  Have remembered Luther Park Community in their will or estate plan.

Rose Legacy Gift members have made specific gifts that will be delivered in the future, generally at the time of their death. To learn how you can make a future gift to Luther Park Community and become A Rose Legacy Gift Member, please contact us at donations@lutherparkcommunity.org or by phone at 515-262-5639.

Bequests- The most common Legacy gift is given through a will. However, there are a number of ways to leave your legacy to Luther Park Community. A few examples include:

•  Designating a dollar amount.
•  Specifying a percent of the estate.

If interested, you may want to work with your attorney to create the wording that suits your interests and goals. Creating a bequest is a wonderful way to substantially support the needs of future Luther Park Community residents and their families, while also reducing a tax burden.

Consider A Future Gift – Wills, charitable annuities, life insurance, and other estate planning tools offer the opportunity to provide for the future needs or to defer costs to our residents of Luther Park Community. If you wish to learn more, please contact us at donations@lutherparkcommunity.org or by phone at (515) 262-5639.

Thank you for remembering Luther Park Community in your will or life insurance.