Estates, Annuities, Trusts, & Such
Bequests: A will can be a reflection of your faith, values, and priorities. Those who value our ministries to children and families enough to give faithfully while they are living may want to include COBYS in their will. An estate gift can make a lasting impact that continues many years after the donor has passed away. Some people choose to designate a 10 percent tithe of their estate for charities like COBYS. Others view charity as another “child” to include in the distribution of assets. So if you have two children, you may divide the estate three ways, with the third share going to COBYS or other charities.
Charitable Remainder Trusts: By placing assets in a charitable remainder trust designated for COBYS, you can realize some tax advantages now, such as deductions for charitable giving, and also receive an income stream over a period of time. Upon your death, the remainder of the trust goes to support COBYS ministries.
Charitable Gift Annuities: This instrument is ideal for donors who desire eventually to support COBYS with a significant gift, but need a source of income for the time being. You simply transfer a minimum of $5,000 into an annuity fund, and then receive an immediate tax benefit and a guaranteed rate of return for life. At the time of death, COBYS receives any part of the annuity that remains. The American Council on Gift Annuities website shows current rates of return.
To discuss supporting COBYS with your accumulated assets, contact Director of Development Don Fitzkee or call 717-656-6580. Please contact your financial advisor or attorney for information about your specific situation.
Respite care was a helpful way for my husband and me to ease ourselves into the role of foster parents. We were also happy to provide some necessary rest to another family. – COBYS Resource Parent Laura