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Planned Giving |
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Planned Giving to the LSF
There are a number of ways in which you can contribute to the Liberty Scholarship Fund. Contributions of cash from a donor's income commonly fund the Scholarship Fund and the Endowment Fund.
Significant gifts can also be made to the LSF through planned giving. This includes choosing the LSF to receive a portion of your final assets upon your death, through specific beneficiary designations and bequests. You can accomplish these gifting choices with your life insurance, retirement accounts, annuities, trusts and through your Will.
- Life insurance - choose beneficiaries for your policy
* term, whole and variable policies, employer provided life benefit
- Retirement plans - choose beneficiaries for all plans
* IRA, Roth IRA, SEP & Simple IRA, 401(k), 403(b)/TSA, Profit Sharing, State & Federal pensions, and all other qualified accounts
- Trusts - choose the beneficiaries for the trust
- Annuities - choose beneficiaries for fixed and variable annuities
- Wills - bequests can be made through your Will as a specific dollar gift, a percentage of your estate or a specific asset as a gift
You can usually choose two types of beneficiaries, primary and contingent. Upon the death of the policyholder or account owner, the primary beneficiaries are the immediate recipients of the assets, based upon the pre-designated distribution percentages. Contingent beneficiaries are used when the primary beneficiaries pre-decease the account owner. Here are two examples of beneficiary arrangements showing a generous gift to the LSF:
- Primary beneficiaries: Spouse - 100%
Contingent beneficiaries: Brother - 40%, Sister - 40%, Liberty Scholarship Fund - 20%
- Primary beneficiaries: Son - 50%, Daughter - 50%
Contingent beneficiaries: Liberty Scholarship Fund - 100%
The designation of beneficiaries is a very important financial planning tool. Your individual family and financial circumstances should be thoroughly considered along with your desire to make a significant contribution to the LSF.
Some other tax-advantaged planned giving techniques rely on the recipient organization's 501c3 status The LSF has chosen not to obtain 501c3 tax status as a federally recognized charitable organization.
Memorial gifts and specially named Scholarship Funds are also available. A permanent Scholarship Fund in your name or the name of a loved one can be set up at any time according to your wishes. Special Funds can be funded with cash or any of the above beneficiary or bequest techniques.
If you have any questions about gifting or making the Liberty Scholarship Fund a beneficiary, please feel free to contact the Director of the Endowment, Brian Sullivan.
Thank you for considering the Liberty Scholarship Fund.
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