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CHARITABLE BEQUEST THROUGH YOUR WILL

You can leave a legacy to Calumet Council by leaving a specific bequest in your will.  Unfortunately most people in this country die without a will.  The state then determines how the estate assets get distributed.  Currently there are no state laws specifying that Calumet Council will get any portion of one’s estate.  So either have a will prepared or consider changing your will to benefit the future generations of Calumet Council. 

CHARITABLE GIFTS OF LIFE INSURANCE 

Life insurance policies provide donors with a unique way to leverage relatively modest annual payments into a sizeable charitable gift.  A donor may name Calumet Council as a beneficiary, co-beneficiary, or contingent beneficiary of an existing policy.  A donor can give ownership of a paid-up policy, which is no longer needed, to Calumet Council and possibly receive a current income tax deduction.  One can also purchase a new policy and name the Council as the beneficiary and owner.  This results in a large future gift and a current charitable deduction for the premiums paid by the donor. 

GIFTS OF REAL ESTATE 

A donor can give their personal residence to Calumet Council while retaining the right to occupy the property for as long as the donor and/or named beneficiary lives.  Such a gift of a remainder interest provides an income tax deduction for the present value of the remainder interest that frees up tax dollars into spend able income without causing any disruption in the donor’s lifestyle. 

GIFTS OF SECURITIES 

Stocks and bonds that have increased in value may be given as a charitable gift to Calumet Council.  If these securities are considered long term it is more advantageous to the donor to give these securities directly rather than sell them and give the proceeds from the sale.  By directly gifting the appreciated securities donors completely avoid the capital gains tax and receive a charitable deduction for the full market value of the securities. 

GIFTS OF INDIVIDUAL RETIREMENT PLAN ASSETS 

Retirement plan assets are a great source of wealth for many of our supporters.  Any distributions from these plans are subject to both federal and state taxes and possibly another 10% tax on premature distributions.  If distributions are made after death federal and state death taxes are another factor.  As much as 70% of a retirement accumulation can be lost to combined federal and state income and estate taxes at the participant’s death.  The value of any interest passing to Calumet Council is fully deductible for estate tax purposes plus because Calumet Council is a tax-exempt entity it pays no current income taxes on any amounts received. 

GIFTS THAT PAY YOU BACK 

 Charitable gift annuities are excellent choices for those who wish to support Calumet Council while securing a future stream of income.  You can transfer cash or appreciated securities to fund this charitable gift annuity.  You’ll receive fixed payments for life plus an immediate income tax deduction and a part of each payment received is tax-free for a number of years. 

For more information contact Jim Lakeman, Scout Executive

(800) 513-2343 or (219) 836-1720

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