Planned Giving

Leave a legacy that makes an impact.

Depending on your individual situation, a legacy gift to Volunteers of America, Utah can help you manage your personal financial plan and extend your ability to help others for generations. Your careful planning can make the world a better place for your children and grandchildren by continuing the good work of Volunteers of America, Utah.

Here you can learn about some of the tax-wise ways you can leave a legacy of compassion and caring through thoughtful gift planning. When considering a planned gift to Volunteers of America, Utah, we suggest that you seek the counsel of a personal financial advisor, attorney, accountant, banker, or insurance professional. The Federal Tax ID for Volunteers of America, Utah is 94-3008720.

To learn more, please contact Dan Benshoff at dan@voaut.org.

Retirement Plans and IRAs

A tax-wise gift.

Typically, the largest source of assets that generate taxable income is a Retirement Plan or IRA. It's important to know that more than half of your retirement plan assets could be subject to income and estate taxes.

If you are considering a gift to Volunteers of America, Utah after you pass, make your legacy go further by gifting taxable assets to us and give nontaxable assets, like real estate and stocks, to your loved ones.

To leave your legacy in the form of gifting all or a portion of your retirement plan or IRA, simply contact your retirement plan or IRA administrator and complete a Beneficiary Designation Form naming Volunteers of America, Utah as beneficiary. Then mail it back to the plan administrator and keep a copy for your records. Beneficiary forms are filled out on your terms and can be changed at any time. If you decide to name us as a beneficiary, please be sure to let us know.

Did you know? When you fill out a Beneficiary Designation Form, you can choose the percentage you’d like to give. You can gift Volunteers of America, Utah anywhere from 0 to 100% and custom-tailor your legacy to fit you and your loved ones’ needs.

Life Insurance Policies

A substantial gift at a relatively low cost.

Perhaps at one time you needed assurance that your loved ones would be financially sound after your passing, but your family has since grown, and you are now confident that their needs will be independently met. Why not use your insurance policy to leave a legacy? You will be making a substantial gift at a relatively low cost, and should circumstances change, you can cancel or make changes at any time.

You can designate Volunteers of America, Utah as the beneficiary for all, or a percentage of, your life insurance policy’s death benefit. You choose whatever percent you desire. To complete your future gift, contact your insurance company or agent. Request and complete a Beneficiary Designation Form, then mail it back to the insurance company. Be sure to keep a copy for your records and please let us know about your planned gift.

Did you know? Many people think of a will as the surest way to transfer assets after they pass. But your will doesn’t cover everything. Beneficiary designations supersede your will when it comes to passing along certain assets after you pass. This makes filling out a Beneficiary Designation form a simple, meaningful, and easy way to leave your legacy.

Bequests

Simple and meaningful.

Bequests are gifts that are made as part of a will or trust. A bequest can be to a person, or it can be a charitable bequest to a nonprofit organization, like Volunteers of America, Utah. Anyone can make a bequest—in any amount—to an individual or charity. Bequests can be simple—“I give $1,000 to my grandson”—or complex, with conditions about how the gifts can be used.

Charitable bequests are flexible and easy to update. You can write one into a will with a short paragraph, and if circumstances change you can revoke it just as easily in a subsequent will or codicil. Estate planning professionals often counsel their clients to have an annual or bi-annual estate plan “check-up” to ensure that the most recent version of the client’s will reflects their wishes.

To leave your legacy with Volunteers of America, Utah in the form a a bequest, speak with your estate-planning attorney.

Did you know? Before meeting with your attorney, it is helpful to identify your goals. Do you want to provide for certain family members and leave a charitable legacy? Be remembered a specific way in your community? Then, itemize your assets. Make a list of everything you own. Think about what type of property ownership applies. (Community property, joint tenants, trust property, etc.) By taking these steps you will save time and money!

This information is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.