Through the years, many have partnered with us and graciously given of their resources. Please consider how you can partner with us and "give thanks" in ways that honor the Creator.
Here are some ways you personally can "sow" and "reap bountifully" (2 Corinthians 9:6)—for your family, your finances, and your eternal legacy within the Kingdom.
Wills. The most basic and important part of any estate plan begins with a well-thought-out will. A will does not need to be complicated or expensive, but it should be designed to work in concert with other planning tools you may have. After making provision for your family (1 Timothy 5:8), plans can be specified within a will for Kingdom work, usually with a short, simple paragraph. ICR can provide information to assist you in this regard.
Trusts. Individuals with more complex estates often find that a Trust—in which assets are managed by one person for the benefit of others—is the best way to administer their financial resources. All trusts function in a similar fashion to ensure that your beneficiaries receive property according to your wishes. Trusts are complex, so you should seek expert advice if you plan to establish one. ICR would be happy to provide some basic information to help you determine if a trust is right for you.
Life Insurance. One of the easiest ways to provide for family, loved ones, and charitable work is through life insurance. By simply including specific charitable organizations as a beneficiary, you can ensure that a portion of the proceeds will go to your favorite charities.
Gifts of appreciated stock. To avoid the significant tax burden on the sale of appreciated stock, it may make sense to give the shares directly to federally-qualified charitable organizations. Shares that have been held for at least one year may be given this way, providing significant tax savings by allowing the donor to deduct the full market value from income tax, while also avoiding capital gains tax. A double "bounty."
Charitable Gift Annuities. Assets that are not producing an adequate income (stock, property, cash, CDs, bonds, mutual funds, etc.) can be turned into a Charitable Gift Annuity. These special annuities provide guaranteed income from the value of the donated assets, while also providing a present tax deduction and a tax-free portion of the income stream. Another "bounty."
Cash gifts. Quite simply, cash gifts are the lifeblood of ministries like ICR. While the various financial vehicles previously described are tremendously beneficial—to you, your family, and your favorite charities—they will never replace cash as the most practical, versatile form of giving. Thankfully, our nation still acknowledges the benefits of charitable giving to federally-qualified charitable organizations. As such, any donations made to ICR are fully tax-deductible—providing another "bounty" of good stewardship.
ICR has developed a number of booklets that provide both conceptual and specific information about the transfer of wealth for your family and to the Lord’s Kingdom. Please contact us at email@example.com or call 800.337.0375.