A Lasting Legacy of Giving
Many believe that the true essence of a legacy lies not in material possessions or personal achievements but in the impact they make on the lives of others. One way to achieve such a legacy is through giving.
Supporting charitable organizations like Palmer Home for Children can be a transformative way to ensure your impact extends beyond your lifetime.
Types of Planned Gifts
Palmer Home provides an opportunity for you to create a lasting legacy that embodies the spirit of compassion and love.
Bequests
A bequest is a gift made through your will or living trust, directing a specific amount or a percentage of your estate to a nonprofit organization. Bequests are a popular and straightforward way to leave a legacy, and they can be customized to support a particular program or area of interest.
Plan Your Gift
Charitable Remainder Trusts (CRTs)
A CRT allows you to transfer assets to a trust, receive an income stream for a set number of years or your lifetime, and then designate the remaining assets to your chosen nonprofit organization. This gift structure allows you to enjoy potential tax benefits while supporting your charitable goals.
Plan Your Gift
Charitable Lead Trusts (CLTs)
In contrast to CRTs, CLTs provide income to a nonprofit organization for a specified period. After this period ends, the remaining assets are passed on to your beneficiaries. CLTs can be a valuable way to minimize estate taxes while supporting the causes you care about.
Plan Your Gift
Life Insurance Policies
By naming a nonprofit organization as a beneficiary of your life insurance policy, you can make a substantial gift without affecting your current financial situation. This option allows you to leave a legacy even if you are not in a position to make a significant gift during your lifetime.
Plan Your Gift
Retirement Plan Assets
You can name a nonprofit organization as a beneficiary of your retirement accounts, such as 401(k)s or IRAs. By doing so, you can avoid potential income and estate taxes, making your legacy gift even more impactful.
Plan Your Gift100% donation based.
We rely entirely on your generosity. No donation is too small, and every gift makes a difference in the life of a child.
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Partner with Palmer Home
Our deeply-rooted commitment to providing a nurturing and loving home for vulnerable children to promote healing, growth, and the development of each child's potential allows you to align yourself with a mission that brings hope and transformation to the lives of countless children and families in need.
Tax Benefits & Estate Planning
Supporting Palmer Home for Children can also provide practical benefits for your financial and estate planning.
As a registered nonprofit organization, Palmer Home qualifies for tax-exempt status, meaning your donations may be tax-deductible.
Planned Giving Resources
Creating a Lasting Impact: A Guide to Legacy Giving and Tax Benefits
Legacy giving, also known as planned giving, is a powerful philanthropic strategy that allows individuals to create a lasting impact on the causes they care about. By including charitable giving in their estate plans, individuals can leave a legacy that extends far beyond their lifetimes. Not only does legacy giving offer the satisfaction of supporting meaningful causes, but it also provides significant tax benefits that can enhance the value of your contributions.
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How to Discuss Planned Legacy Giving with Your Family
Discussing planned legacy giving with your family can be an emotionally charged and complex conversation. However, having an open and transparent discussion about your philanthropic intentions is crucial to ensure that your values and charitable passions are carried forward for generations to come.
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Mississippi Estate Planning: Ensuring a Lasting Legacy
Estate planning in Mississippi is not just about passing on your assets to your beneficiaries; it's an opportunity to leave a lasting impact on causes and organizations close to your heart. While most people are familiar with wills and beneficiary designations, charitable trusts offer a unique and powerful way to combine your philanthropic goals with estate planning.
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5 Reasons to Leave a Lasting Legacy to Palmer Home for Children
Palmer Home’s deeply-rooted commitment to providing a nurturing and loving home for vulnerable children offers a stable and caring environment promoting healing, growth, and the development of each child's potential. By partnering with Palmer Home, you align yourself with a mission that brings hope and transformation to the lives of countless children and families in need of a loving hand and who seek to know the love of Christ through tangible acts of care.
READ MOREPlan Your Lasting Legacy
Your contributions create immediate change, creating a ripple effect felt for generations to come. - Drake Bassett, President & CEO
Leave Your Lasting Legacy
You have the opportunity to impact the lives of vulnerable children, shaping their futures and empowering them to break free from adversity.
Embrace the opportunity to create a legacy that goes beyond material possessions and leaves a profound and enduring impact on the lives of others. Together, we can build a brighter and more compassionate world for all children.