Planned Gifts
Create a lasting legacy with a gift to Big Brothers Big Sisters of Southwestern Illinois
Charitable Bequest
Any size charitable bequest can be made to Big Brothers Big Sisters of Southwestern Illinois through a will or living trust by including a distribution of cash or specific property, a dollar amount, or a percentage of the estate. If you would like to make a significant future gift without affecting your current lifestyle then consider a Charitable Bequest. You may benefit from retaining control over your assets during your lifetime and reducing future estate taxes.
Retirement Plan
Retirement plan assets in an IRA, pension, or profit sharing plan can be the most highly taxed assets in an estate. Naming Big Brothers Big Sisters of Southwestern Illinois as a contingent, primary, or partial beneficiary is one of the most cost-effective ways to give. If you would like to leave assets to Big Brothers Big Sisters of Southwestern Illinois and your heirs but not sure what to leave to whom. Then consider a gift of retirement plan assets. You may benefit from avoiding income and estate tax on your retirement plan assets while making other property available to pass to your heirs.
Life Insurance
Various types of life insurance gifts offer opportunities for you to make a small investment now and greatly benefit Big Brothers Big Sisters of Southwestern Illinois in the future. Simply making Big Brothers Big Sisters of Southwestern Illinois the beneficiary of a policy is a revocable gift and provides estate tax advantages. Transferring ownership of an existing policy no longer needed for its original purpose may result in an income tax deduction. Buying a new policy with Big Brothers Big Sisters of Southwestern Illinois as owner and beneficiary provides other tax benefits, including an income tax deduction for the premiums paid. If you would like to leverage current annual gifts to make a significant future impact at Big Brothers Big Sisters of Southwestern Illinois. Then consider a gift of life insurance. You may benefit from receiving a possible income tax deduction now and creating a substantial future gift without a large cash outlay.
Unrestricted Use And Purpose
We recommend contacting your own financial advisor or attorney regarding the best language to utilize.
Below is an option that may be useful.
"I, [name], of [city, state, ZIP], give, devise and bequeath to Big Brothers Big Sisters of Southwestern Illinois, 2900 Frank Scott Parkway W. #956, Belleville, Illinois 62223 [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."
DISCLAIMER: Information provided herein is not intended as tax or legal advice and cannot be relied upon to avoid statutory penalties. Always check with your tax and financial advisors before implementing any gift.
BIG LEGACY SOCIETY
If you have made such a provision, please advise us so you can be included in our Big Legacy Society. Big Legacy Society Members will be recognized at our annual Big Impact Bash, in the agency Annual Report and on the agency website.
To learn more about planned giving or our Big Legacy Society, please contact Heather Freed, President & CEO, at [email protected] or 618-239-4083.