How to Secure Your Legacy and Build a Brighter Future
We’ve heard from many of our friends over the past few months that they feel weary, anxious, and scared. They opened the newspaper and saw sickness, violence, and hatred—bad news piled upon more bad news, seemingly without end.
But these same friends called to tell us that they’re praying for us. They look forward to hearing how the kids at Mercy Home are faring through the many storms of 2020. What’s more—they share that in a world which can seem out of control, they wanted to find a way to help.
Friends Like You Making a Difference
Susan spent her career working with at-risk kids. She called to let us know that she named Mercy Home as a beneficiary of her trust, because “there is no place like Mercy Home,” and she wants to be a part of something special.
Jim, a longtime donor in Florida, has been thinking long and hard about how best to secure his legacy. He decided to name Mercy Home as the beneficiary of his retirement plan.
Virginia lives in a nursing home in Long Island, New York. She called to let us know that she can’t give now, but has added Mercy Home to her will. This way, she can provide a brighter future for kids in need, long after she’s gone.
And then there’s Candace, whose story was so compelling that we decided to feature it in this newsletter (she’s the cartoonist with the self-portrait on the back page). She knows firsthand what it’s like to suffer as a child, and has included Mercy Home in her estate plan, which will allow her to save the life of a child who she will never meet.
What these folks have in common is their desire to make the world a better place. And by leaving a bequest to Mercy Home, that’s exactly what they’re doing. It’s a great way to secure their legacy and save the life of a child—all without spending a dollar in their lifetime.
We’d like to invite you to join this circle of friends and help us build a brighter future together. Now more than ever, these kids need your help. Please consider leaving a bequest to Mercy Home. It’s easier than you think and can make a tremendous difference in the life of a child.
Tools for Building Your Legacy
A WILL allows you to name someone to handle your estate, and can name the guardian for your children if needed. You can also use your will to give specific assets to family, friends, or charity, and is the place to state your funeral wishes.
A TRUST is a useful tool to manage the assets in your estate. You can designate specific gifts to those left behind, or divvy up by percentages. Unlike a will, a trust is not a public document, and will not subject your estate to probate court (often a lengthy and costly process).
EMPLOYEE BENEFIT PLANS might include a 401(k), 403(b), IRA, or group life insurance benefits. These plans are often heavily taxed when left to heirs other than your spouse, so can be a great way to make a large charitable gift at no cost to you now. Be sure that your beneficiary designations name the correct persons or charities, as these plans are not governed by your will.
LIFE INSURANCE provides for your family by replacing lost income and covering additional expenses. You can also name Mercy Home as the owner or beneficiary of your existing insurance policy if you no longer need it to support your family.
HEALTHCARE DIRECTIVES and certain types of Powers of Attorney may ensure that someone who you have chosen has the authority to act on your behalf if you are incapacitated due to an accident or sudden illness.