Estate Giving

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Estate Giving

As we grow older, many of us begin to think about how our life can make an impact for years to come.  If you love what Carpenter’s Place is about and if you desire to leave a legacy for those who come behind you, we invite you to consider leaving Carpenter’s Place in your will or estate plan.

Another way to care for the long-term needs of Carpenter’s Place is to name us as a percentage beneficiary of your IRA or other retirement plan assets. These assets can have both income and estate taxes due when given to family members. Many financial professionals suggest giving other assets to family. You may also considering naming us a beneficiary in a life insurance policy. Both are simple ways to ensure that your partnership lives on!

 

Types of Estate Gifts

There are many ways to financially support the Carpenter’s Place. One important way is through a gift from your estate. Planned giving can help you achieve you philanthropic goals while meeting your personal and family financial goals as well.

The following is a list of the most popular ways you can remember CP in your estate plans (we would be happy to discuss other options as well):

Real Estate Donations

Transitional housing is quickly becoming a vital part of our efforts to give the homeless the tools they need to rebuild their lives. Through the “Foundations for the Future” program you can donate property of any kind including single- and multi-family homes, boarding or apartment buildings, residential lots, undeveloped land, or farms with or without buildings. Property donors may benefit from reduced income taxes, reduced estate taxes, avoidance of capital gains taxes and a significant charitable deduction for tax purpose.

Bequest Language

The official bequest language for Carpenter’s Place is: “I, [name], of [city, state, ZIP], give, devise and bequeath to Carpenter’s Place (TAX ID # 36-4352283) [percentage of the estate or written amount or description of property] for the ongoing ministry needs of Carpenter’s Place.” If you would like to designate a bequest for a specific purpose, or in memory of a loved one, please contact KayL@carpentersplace.org.

1149 Railroad Avenue, Rockford, IL 61104 | (815) 964-4105

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