An excellent way for you to support your church or other ministries and missions is by making a bequest to United Methodist Foundation of West Virginia in your will or living trust. You can have a separate agreement with us that gives us instructions on how to make distributions to the church and other charities you want to support. A significant benefit of making a gift by bequest is that it doesn't take effect until you die. You continue to use the property during your life, and at your death you leave a lasting legacy.
A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or United Methodist Foundation of West Virginia as part of your estate plan, or you can make a bequest using a beneficiary designation form.
As you begin to work with your estate planner to create your bequest, contact us. We can work with you to facilitate the details of the gift including the creation of an Agreement with the Foundation that will provide us with instructions regarding how your bequest will fund an endowment to support the ministry you choose.
If you have any questions about leaving a bequest to us, please contact us. We would be happy to assist you. If you have been so generous as to include a bequest to United Methodist Foundation of West Virginia as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.
The method used to make a bequest will depend on the kind of gift you choose to leave to United Methodist Foundation of West Virginia.
Bequests of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the bequest.
Other bequests, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the appropriate "beneficiary designation" or "payable on death" form. To complete your bequest, you will need to complete and sign the form and then send it back to the person who originally sent the form to you.
The last step in leaving any bequest involves the transfer to charity. When you pass away, the bequest property will be transferred to United Methodist Foundation of West Virginia. The full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction.