Leaving a Legacy
Many of the blessings we enjoy at Hyde Park today are the products of dedication on the part of those before us, who made provisions in their estate plans to continue their stewardship beyond their lifetime. They were committed to leaving future generations an inheritance on which to build.
We may think of “the stewardship of our possessions” only in terms of possessions we own in life. Our witness and influence for Christ can continue long after we are gone with the legacy we leave. That is why our “Last Will and Testament” is, in reality, a testimony that reveals what we truly value most in life and beyond.
The Foundation provides options for planned giving to be a complement, not a substitute, for our giving through tithes and offerings. It provides a means for continued stewardship beyond our lifetime through our will or estate plan.
Estate Planning Objectives
- Conserve estate assets for those you love
- Bypass capital gains taxes
- Reduce current income taxes
- Reduce federal estate taxes
Types of Gifts
- cash/certificates of deposit
- retirement funds
- a home or business
- real estate or other property
- mutual funds
- life insurance policies
- works of art
A Good Place to Start Your Estate Planning
- List the PEOPLE for whom you want to provide.
- List the PROPERTY you own—including real estate, investments, retirement funds, life insurance assets, personal property.
- Your PLANS will begin to take shape as you consider how you will provide for the people on your list—matching assets to the needs of each person.
- List the PLANNERS you will need to help you implement your plan—attorney, accountant, financial planner, bank trust officer, etc.