As you plan for the future, whether during your lifetime or for your loved ones after you’re gone, there are many options to consider. And as you plan, you are leaving a legacy for your family and the generations to come. There are many ways that you can do that while also helping leave a legacy for those who have never had access to God’s Word in the language they understand best.
When Betty began planning for the future, she knew that her retirement fund covered her basic needs, but she needed a little extra for incidentals like home repairs and travel to see family. So when her granddaughter introduced her to a Wycliffe Foundation gift planning advisor, he explained two charitable life income plans that would allow her to convert her highly-appreciated, under-productive stock into a lifetime income stream: charitable gift annuities and charitable remainder trusts. With higher returns than she was receiving on her stock, as well as a charitable tax deduction, and avoiding the capital gains tax, Betty felt she’d found a great solution. And she was pleased that after her lifetime, the remaining principal would benefit Wycliffe Bible Translators.
As Jeff and Marie made their will and estate plans, they weren’t sure how to handle leaving an inheritance for their children. They had emphasized biblical generosity to their kids and wanted to leave them an appropriate amount, at the right time. After prayerful consideration, they decided on a charitable lead trust with the Wycliffe Foundation. Setting up the trust allowed them to determine the amount and timing of the inheritance. Jeff and Marie were able to financially support Bible translation while leaving their family an essentially tax-free inheritance.
John and Lynn also felt led by the Holy Spirit to provide for the work of Wycliffe after their lifetime, but they already had a will in place. After meeting with a Wycliffe Foundation gift planning advisor, they learned that by simply filling out a beneficiary designation form, they could use an existing asset — like their retirement plan, life insurance or mutual fund — to support Bible translation. They were delighted that naming Wycliffe as the beneficiary would remove a taxable asset from their estate and cost nothing out of pocket.
Want to learn more about charitable gift and estate planning that will allow you to provide for yourself, your loved ones and Bible translation? Our gift planning advisors can help you determine which strategies to consider, given your personal goals and desires. Visit the Wycliffe Foundation website at wycliffefoundation.org or contact us by calling 1-877-493-3600 or emailing firstname.lastname@example.org.