Legacy Circle

Legacy Giving is easier than you think…
Over 90% of legacy gifts result from a simple beneficiary listing in a will/trust, retirement account (IRA) or insurance policy. The changes can be made at any time and typically cost nothing but a stamp!

Bequests

Making a bequest in a will or trust is by far the most popular way of legacy giving for several reasons:

  • Security – You hold on to all assets while you are still living.
  • Flexibility – You can designate gifts by amount or percentage.
  • Convenience – You can provide for multiple heirs and charities all at the same time.
  • Editability – You can change your will/trust at any time and make minor revisions with a codicil.
  • Privacy – You can keep the detail private, unless you choose to share.
  • Cost – You can create a simple will for only about $100

Retirement and Stock Accounts

IRA’s are a great choice to fund legacy gifts because of the possibility of double taxation. If your children inherit your IRA, they may have to pay both income tax AND estate tax (up to 65% of the accounts value!). MVCA is tax-exempt so 100% of your IRA gift goes toward teaching students.

Call us at 513-272-6822 about IRA rollover legislation because a gift during your lifetime may be more financially advantageous.

Life Insurance

An insurance gift allows you to make a legacy gift while preserving other assets for heirs.

Naming MVCA as primary or percent beneficiary allows you to retain access to the cash value. Naming MVCA as owner entitles you to a tax deduction equal to annual premiums.

Insurance is a great choice for the donor who is still able to obtain a new policy at low cost. Your insurance gift prepares students for a future of Christian leadership.

NEXT STEPS

1. Consult Your Advisor

Share with your attorney or financial advisor your desire to leave a legacy to MVCA. Evaluate your particular situation and ask for their partnership in designing the best method.

2. Take Action

Fill out the beneficiary forms, prepare the codicil and sign all the paperwork. The best of intentions mean nothing if it is not finalized.

3. Share Your Plans With MVCA

Contact our office so we can make a note in your file about your plans, how you want funds to be used and if you would like to be recognized or remain anonymous.

Thank you for blessing the lives of future MVCA students with your generosity.

The information on this site is not intended as legal or financial advice. Please consult your attorney or financial advisor regarding matters of charitable giving and estate planning.