Leave a Legacy
Making a gift to Aging & In-Home Services (AIHS) in your Will is the ultimate and final way you can help us to continue innovating aging-in-place for all local Hoosiers. Your Will goes into effect after your death. Therefore, the gifts you specify in your Will are made from the assets which remain after payment of your funeral expenses and other debts.
You should know that leaving a gift to AIHS doesn’t mean you can’t leave money to your family, too. You can do both, and some charitable gifts may actually save your family money by reducing inheritance taxes. Many people set aside a specific dollar amount. Some leave a percentage of their estate or any assets left over after their family has been provided for. Some bequeath personal property such as a car or collectibles.
Just as gifts to charity during your lifetime may result in a tax deduction, the gifts made by you after death may provide a deduction for your estate. In general, a gift to an organization which is recognized as tax exempt for charitable or educational purposes by the Internal Revenue Service under Internal Revenue Code Section 2055 and Section 170 will be exempt from taxes.
Talk to your financial or legal advisor about the best way for you to leave your legacy.
Adapted from the Planned Giving Council of Northeast Indiana, www.pgcni.org
This document provides general information only. You should rely on your attorney’s advice in all matters regarding your estate plan. You may ask your attorney to prepare other documents in addition to a Will and your attorney will have the right to charge a fee for the additional work.