We are pleased to offer you free estate planning tools to create your Will and other
important estate documents through our partnership with Giving Docs.
Easily create your will and other estate planning documents in just a few minutes for free. You can update or change your plan as often as you like, at any point along the way. There is no obligation to leave a gift in order to create your own estate plan.
The Legacy of Roses Society has been established to honor those who make The Ohio Masonic Communities Foundation part of their personal legacy by creating a planned gift.
So, what is a planned gift? A planned gift is a gift made to The Ohio Masonic Communities Foundation that is not part of your discretionary spending. Some planned gifts are made after your lifetime while all allow you to make an impact on an organization you love.
You can make a significant gift without changing or impacting your current lifestyle. Listed below are many ways to create a legacy that can benefit you, your family, and others all while maximizing your income and saving you capital gains and estate taxes.
A gift through your will allows you to retain all of your assets during your lifetime. Bequests can be for a percentage of your estate or a specific dollar amount. To better assist with your plans, The Ohio Masonic Communities Foundation can provide you with sample bequest language, for example:
I give, devise and bequeath to The Ohio Masonic Communities Foundation, a not-for-profit organization located in Springfield, Ohio the [sum of $___, or ___ percent (%)] of the rest, residue and remainder of my estate as an unrestricted gift to be used at the discretion of the Board of Trustees of The Ohio Masonic Communities Foundation for the general purposes of The Ohio Masonic Communities and its related entities.
Please contact us for additional samples of bequest wording.
Required minimum distribution also called an “RMD” is the minimum amount people must withdraw from their retirement account each year. Generally, people must begin taking withdrawals from their IRA or retirement plans when they reach 70.5 years old. Click here for a simple letter that you can use to request a direct distribution from an IRA (Individual Retirement Account) to The Ohio Masonic Communities Foundation.
A trust enables you to make a charitable gift, while enjoying a tax deduction, removing taxable assets from your estate, and generating income for yourself, your family – or anyone else you choose – for life or for a specified period.
Donate part or all of your retirement assets (IRAs, pension, 401(k), 403(b)) or life insurance policies to The Ohio Masonic Communities Foundation by designating the organization as a beneficiary. If you want peace of mind in knowing that the charity you love will receive a future gift, simply request a beneficiary designation form from your plan administrator, insurance company, bank or financial institution. Please contact us (HL to contact us page) with questions, or if should you need assistance.
Donating stocks, bonds or other appreciated securities that you have held for longer than one year can provide you with several tax benefits and significantly impact the mission and work of The Ohio Masonic Communities.
Similarly, a donation of real estate that you have held for longer than one year can help you avoid the hassles of selling your home or vacation property and qualifies you for a federal income tax charitable deduction. This eliminates capital gains tax.
If you are 70½ years old or older, you can take advantage of a simple way to benefit The Ohio Masonic Communities and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money.
The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
A charitable IRA rollover is a great way to satisfy your required minimum distribution, and because the gift can be put to use today, allows you to see the difference your donation is making.
There is a way for you to support The Ohio Masonic Communities and feel confident that you have dependable income in your retirement years.
In exchange for a transfer of cash or securities The Ohio Masonic Communities Foundation agrees to pay fixed payments to you for the rest of your life. The payout rate depends on the age and number of beneficiaries. Payments can begin immediately, or they can be deferred. You are able to claim a charitable deduction for the portion of the transfer that represents a charitable gift, and in most cases, a portion of each annuity payment is tax free over the life expectancy of the annuitant.
Since many legacy gifts do not require you to part with assets during your lifetime, you may be able to make your most significant contributions through your estate plans.
We would be happy to assist you, your family, and advisors in exploring financial, estate, and charitable planning. Please contact us.
By remembering The Ohio Masonic Communities in your estate plans, you will help to ensure future generations continue to receive the best in care, enabling them to live active, purposeful lives.
The Ohio Masonic Communities Foundation is a not-for-profit entity, and does not provide tax, legal, or financial advice. Any document or information shared by our staff is intended to be educational. The Ohio Masonic Communities Foundation strongly encourages all our benefactors to seek counsel from their own legal and financial advisors. Please know that any information or documents shared by The Ohio Masonic Communities Foundation cannot be used to avoid tax-related penalties.