PLANNED GIVING OPTIONS
| Bequests by Will | Gift of Life Insurance | Gift of Retirement Plan (IRA, 401(k), etc.) | |
|---|---|---|---|
| Your Goal | Make a gift to UMFS after your lifetime. | Utilize a life insurance policy to make a charitable gift, enabling you to make a larger gift than you might be able to make with other assets. | Make a gift to UMFS after your lifetime, and maintain control of your assets during your life. For information about making an IRA donation during your lifetime, CLICK HERE. |
| How It Works | Designate UMFS as the beneficiary in your will or living trust, indicating a specific amount, percentage, or a share to UMFS. Please use our full legal name: United Methodist Family Services of Virginia, EIN #54-0505969. | Fill out a change of ownership form with your insurance company designating UMFS as the new owner. Please use our full legal name: United Methodist Family Services of Virginia, EIN #54-0505969. | Complete a beneficiary designation form that names UMFS as a beneficiary of your retirement plan. Please use our full legal name: United Methodist Family Services of Virginia. You can also include our EIN #54-0505969. |
| Benefits | Estate tax charitable deduction. Use and ownership of your property and assets while you are alive. | Reduced income taxes and estate taxes. Maintain privacy since a life insurance gift is not a matter of public record. You can donate an existing policy or purchase a new policy specifically for charitable use. | Estate tax charitable deduction. Use and ownership of your property and assets while you are alive. |
Thank you for your interest in Planned Giving at UMFS! Please fill out the form below and we will be in touch with you soon.