As a charitable, nonprofit organization, we rely on donations of individuals to be able to provide food, visits, compassionate care and other resources for senior adults in need.
Take a moment to explore the ways of giving available to you and discover how your gift to help our community’s seniors in need can also help you achieve your financial, philanthropic, and estate planning goals.
A gift to Senior Services, Inc. in your will or revocable trust proclaims your confidence that we will continue to serve our mission and make a difference in the lives of the elderly in need. A bequest:
- Is easy to arrange.
- Will not alter your current lifestyle in any way.
- Can be easily modified to address your changing needs.
Read on to learn how to remember us in your will.
Remember the Elderly in Your Will
It’s easy to include a gift for the homebound elderly in need in your will. Simply choose your best option from the Sample Bequest Language below, and communicate this option to your attorney.
Residual Bequest Language
A residual bequest comes to us after your estate expenses and specific bequests are paid:
“I give and devise to Senior Services, Inc., located in Winston-Salem, NC all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).”
Specific Bequest Language
Naming Senior Services as a beneficiary of a specific amount from your estate is easy:
“I give and devise to Senior Services, located in Winston-Salem, NC the sum of $___________ to be used for its general support (or for the support of a specific fund or program).”
Contingent Bequest Language
Senior Services can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
“If (insert name) is not living at the time of my demise, I give and devise to Senior Services, located in Winston-Salem, NC, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund or program).”
Retirement Plan Beneficiary Language
You may name Senior Services as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.
Naming Senior Services as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit sharing pension plan will accomplish your desire to help the elderly in need while realizing significant tax savings. It can be costly to pass such assets on to your heirs because of heavy tax consequences. By naming Senior Services as a beneficiary of a retirement plan, you maintain complete control over this asset while living, but at your death, the plan passes to support the program and services of Senior Services free of both estate and income taxes.
Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change of beneficiary form from your plan administrator. When you are done, please return the form to your plan administrator and notify Patricia Mead, vice president of development at 336-721-6908.
Senior Services has many other options for planned gifts. For more information, please call Patricia Mead, vice president of development, at 336-721-6908.