The National Federation of the Blind knows that blindness is not the characteristic that defines you or your future. Every day we raise the expectations of blind people, because low expectations create obstacles between blind people and our dreams. You can live the life you want; blindness is not what holds you back.
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THE NATIONAL FEDERATION OF THE BLIND OF MONTANA IS A 501(c)(3) ORGANIZATION
Your Guide for Planned Giving to the National Federation of the Blind of Montana
We hope that you will consider the National Federation of the Blind of Montana in your estate planning. All you have to do is to place the following language in your will:
"I give, devise, and bequeath unto the National Federation of the Blind of Montana,
P.O. Box 1325,
Great Falls, Montana, 59403,
a gift in the form of _____ to be used for its worthy purposes on behalf of the blind of Montana."
If you would like to let us know that you have made a gift to the National Federation of the Blind of Montana in your will, you may send a personal note indicating the nature of your gift to the address above.
What is a Charitable Gift Annuity?
A Charitable Gift Annuity (CGA) is a contract under which a charity, in return for a transfer of cash, marketable securities, or other property, agrees to pay a fixed sum of money to the donor (annuitant) for a period measured by one or two lives. These payments are fixed and unchanged for the term of the contract.
Types of Charitable Gift Annuities
- Immediate Gift Annuity - The annuitant starts receiving payments at the end of the payment period immediately following the gift.
- Deferred Gift Annuity - The annuitant starts receiving payments at a future time. The date chosen by the donor must be more than one year after the date of the contribution.
Types of Agreements
- Single Life Agreement - Pays only one person for his or her lifetime.
- Two Lives in Succession Agreement - Pays person "A" first. If person "B" survives person "A," then agreement pays person "B."
- Joint Survivor Agreement - Pays two persons simultaneously.
Facts about the National Federation of the Blind of Montana Gift Annuity Program
- Annuitant(s) must be 65 years or older
- Minimum amount of Gift Annuity Agreement - $25,000
Your Will & Charitable Interests
Perhaps the most important document to you and your loved ones is your will. This document provides for a clear and specific understanding as to how you want to provide for your loved ones and how to transfer your assets.
The Four "P's" of Estate Planning
A wonderful way to organize your plan and save costs:
- People: List the people and charitable organizations that are important to you and how you want to provide for them.
- Properties: List the properties that comprise your estate. Include cash, securities, real estate, life insurance, retirement plan, etc.
- Plan: Design a plan for your family and charitable interests. Consult your attorney to draw up the perfect plan.
- Planners: Consult professionals who will help you put your plan in proper legal form - Your attorney, Investment Advisor, or Trust Officer.
How can I give to the NFB of Montana through my will?
- Designate a percentage of your estate to the NFB of Montana.
- Designate a specific amount to the NFB of Montana.
- Designate the remainder of your estate to the NFB of Montana, after providing for your loved ones.
- Include a gift in your will to the NFB of Montana that will provide a life income for your loved ones.
Income generating gifts allow the donor to make a gift of cash or other property in trust now and receive income for life. Among these income-generating gifts are Charitable Remainder Trusts and Charitable Lead Trusts.
The Charitable Remainder Trust (CRT)
One of the most popular forms of income-generating gifts. A Charitable Remainder Trust is an irrevocable trust that benefits the donor or other individuals named by the donor for a term of years or a lifetime. If you so designate, upon termination, the remaining assets pass on to the National Federation of the Blind of Montana.
Facts about A Charitable Remainder Trust
- It must be an irrevocable trust.
- It must provide for amendment to conform with IRS Code and Treasury regulations.
- It must provide for a specific distribution, at least annually, to one or more beneficiaries, at least one of which is not a charity.
- It must continue for a period of time measured by a life (or lives), a specific number of years (not more than 20), or a combination of both.
Types of Charitable Remainder Trusts
- Charitable Remainder Unitrust (CRUT) - Income payment to the donor is structured as a fixed percentage of the annual fair market value of the trust. Additions to the trust are allowed.
- Charitable Remainder Annuity Trust (CRAT) - Income payment is structured as a fixed percentage of the initial fair market value of the trust. Additions to the trust are not allowed.
Charitable Lead Trust (CLT)
A Charitable Lead Trust is the opposite of the Charitable Remainder Trust. If you so designate, the CLT pays an income to the National Federation of the Blind of Montana and distributes the remainder to the beneficiaries.
Facts about A Charitable Lead Trust:
- It is a transfer of guaranteed income interest to the National Federation of the Blind of Montana.
- It provides for a guaranteed, specific distribution at least annually to the National Federation of the Blind of Montana.
- It continues the distribution for a term measured by an ascertainable life or lives, a specific number of years, or a combination of both.
- It distributes the trust property at the end of the term to the beneficiaries.
Gifts of Life Insurance
Gifts of life insurance can be a valuable part of any charitable giving plan. It is an attractive gift to donors because it allows the donors to ensure that the National Federation of the Blind of Montana will receive a death benefit that is larger than any gift they could make during life.
Ways To Make a Gift of Life Insurance To a Charity
1. TRANSFER OF A CURRENTY POLICY -
Donor could transfer ownership rights to the NFB of Montana when:
- A policy is no longer critical
- A policy is no longer needed for its original purpose
- A policy does not produce income
2. PURCHASE A NEW POLICY -
Donor may create a new life insurance policy with the NFB of Montana as beneficiary.
3. LIFE INSURANCE POLICY WITH CASH VALUE CAN BE REDUCED TO CASH -
The donor may then contribute the cash value in exchange for a Charitable Gift Annuity or Charitable Remainder Trust.
- The transfer of an existing policy must be made through the issuing life insurance company.
- To transfer the interest, the donor must complete the forms provided by the life insurance company.
- A life insurance gift is considered complete on the date the ownership rights are transferred to the National Federation of the Blind of Montana.
By making a gift to the National Federation of the Blind of Montana, donors can expect some or all of the following benefits:
Your Gift to the National Federation of the Blind of Montana Will...
- Help the NFB of Montana fulfill its mission
- Income tax savings through a charitable deduction
- Capital gain tax savings on contribution of certain appreciated gifts
- Retained payments for the life of a donor and/or other beneficiaries
- Elimination of federal estate tax in certain situations
- Reduced estate settlement cost
- Make proficiency with and careers in science and math a real possibility for blind children of Montana
- Provide hope for Montana seniors losing their vision
- Help the state affiliate and local chapters to promote programs and provide information that will inform and educate the blind of Montana
- Advance development of blindness-related technology in Montana
- Train and inspire professionals working with the blind of Montana
- Provide Montana parents with critical information helpful to their blind children
- Mentor blind people in Montana to find jobs
- Guarantee that you are part of the NFB of Montana dream!
I pledge to participate actively in the efforts of the National Federation of the Blind
to achieve equality, opportunity, and security for
to support the policies and programs of the Federation;
and to abide by its constitution.
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