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| Planned
Gifts |
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Wills
- Individuals can provide for the special people in their
lives and for the Spring Grove Heritage Foundation and other
philanthropic interests with bequests made through wills.
Bequests in wills can take various forms:
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- A
general bequest in which the Spring Grove Heritage Foundation
is designated to receive a specific dollar amount;
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A specific bequest leaves specific property to the Spring
Grove Heritage Foundation;
- A
percentage bequest is expressed as a percentage of an
estate rather than a specific amount. If over the years,
changes occur in the size of the estate, the bequest will
change in the same proportion;
- A
residuary bequest gives to the Spring Grove Heritage Foundation
all or a portion of an estate after all debts, taxes,
expenses, and other bequests have been paid.
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Life
Insurance - A second and important but often overlooked
means of making a planned gift is Life Insurance. A donor
can name the Spring Grove Heritage Foundation as the primary
beneficiary of a life insurance policy. The donor retains
ownership of the policy and has access to the policy's cash
value. Even though the value of the policy will be includible
in the donor's estate, no federal estate-tax liability will
result from this because of the charitable donotion.
Retirement Accounts - A third and relatively new way
of making a planned gift is for the donor to designate the
Spring Grove Heritage Foundation as the recipient of a personal
IRA account or other retirement account. |