With your Legacy Gift, your care and concern for older adults will continue well into the future. Your gift extends today’s efforts to create the programs, homes and services seniors will need tomorrow. You are, in fact, leaving a legacy as you partner with those who serve other older adults in the years to come.
“I wanted to do something special for Mirador because it is my home and my husband, Thomas and I have been blessed by the people here. I am not in a position to make a gift now but am pleased to include Mirador in my estate plan. I know in the years to come, many others will be blessed as Thomas and I have been, and I want to partner with Mirador in that blessing.”
Emily Weaver, Mirador resident
What Is a Legacy Gift?
A legacy gift, or planned gift, is a future donation given to a charity through a will or other form of designation as a part of a person’s estate. Legacy gifts enable you to provide support to an MRC community that you might not be able to offer through an outright gift today. Many planned gifts also benefit you and your family by providing income sources, tax relief or other advantages.
With your Legacy Gift, you are in control of your gift. You can designate it with a specific place or purpose in mind or leave it unrestricted allowing it to be used in the place or area of greatest need. Your gift will stay in the MRC community you designate and be used solely for the purpose you specify.
How Can I Make a Legacy Gift?
1. Charitable Bequests
A bequest is the simplest type of legacy gift and is one of the easiest to implement. A bequest is a gift designated in your will--a gift of cash, stock or securities, or other property made through your estate at the time of your death. Remembering MRC or an MRC community with a bequest from your estate allows you to partner with us in providing life-enriching programs and services for future older adults who call the community home.
The benefits of including an MRC community in your will include:
· A bequest costs nothing now yet gives you the satisfaction of knowing that future older adults will receive the same loving, compassionate care and services you received.
· You retain control of and use of your assets during your lifetime.
· You can make a gift of a specific amount, a percentage of your estate, or all or part of what is left after your family has been provided for.
· You may modify your bequest if your circumstances change.
· Gifts to an MRC Community from your estate are exempt from federal estate taxes. When considering a bequest, MRC can provide you with sample bequest language to include in your will.
2. Gifts That Provide Income
Charitable Gift Annuities, Charitable Remainder Annuity Trusts and Charitable Remainder Unitrusts can provide you with predictable tax-advantaged income while making a gift to an MRC community.
3. Beneficiary Designations
Naming an MRC Community as a beneficiary of all or a portion of your entry fee refund, life insurance, Donor Advised Fund, IRA or other retirement plan is a relatively easy way to make a significant gift to your community and reduce taxes for you or your heirs.
4. Other Ways to Give
Included below are some alternate ways to give that may have a tax benefit to you while allowing you to partner with your MRC community to make a difference in the lives of the older adults being served.
Donation of appreciated stocks
Donation of appreciated Real Estate
Retirement Plan: Estate Distributions
*This information is not intended as tax, legal or financial advice.
Consult your personal financial advisor for information specific to your situation.
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A long-term care ombudsman helps residents of a nursing facility and residents of an assisted living facility resolve complaints. Help provided by an ombudsman is confidential and free of charge. To speak with an ombudsman, a person may call the toll-free number 1-800-252-2412.
