Planned Giving

Thanks to generous supporters like you, Broken Arrow Seniors has helped provide a safe place, programs and classes to help people 55 and older stay physically active and socially engaged for healthy and independent living. With your continued support, we will continue to grow and serve even more senior citizens.

We want to make it as easy as possible for you to share your support. With just a little planning, you can help us enhance our ability to impact the individuals we serve long into the future. Through our partnership with Tulsa Community Foundation (read more) and as a service for our donors and friends, Broken Arrow Seniors provides complimentary, confidential, charitable tax and charitable financial planning services. Please view the information below to learn how easy it is to leave your legacy and make an impact for years to come.

Planned gifts are a variety of charitable giving methods that allow you to express your personal values by merging your family, financial, and charitable goals. Planned gifts can be made with cash, but many are made by donating assets such as stocks, real estate, art pieces, or business interests—there are multiple possibilities.

Planned gifts can provide valuable tax benefits and/or lifetime income for you, your spouse or other loved ones. The most frequently-made planned gifts are bequests to charities, made through your will. Other popular planned gifts include charitable trusts and charitable gift annuities.

Making a planned gift usually requires the assistance of the charity’s development professional and/or a knowledgeable advisor such as an attorney, financial planner, or CPA to help structure the gift. Broken Arrow Seniors, through our partnership with the local community foundation, is able to offer the services of a professional estate planning specialist at no cost to you. We provide advice and complete in-depth information for your charitable tax and financial planning needs, and work directly with your attorney, accountant, or estate planner if necessary.

A misconception is that giving through your estate is only for the “wealthy.” The truth is, even people of modest means can make a difference through planning.

Gifts can also be made to Broken Arrow Seniors when a donor designates Broken Arrow Seniors as the beneficiary on their life insurance, IRA, or Pension Plan.

Below is language that can be used when making a bequest to Broken Arrow Seniors:

Unrestricted Bequest

I give devise and bequest to Broken Arrow Seniors, (state: ” % of my estate”, “the sum of _____” or “the residue of my estate”) under this will after the deduction of all debts, funeral expenses, and administration expenses, but before the deduction of any death, inheritance or estate taxes, it being my intention to exonerate this bequest from contributing to the payment of any such taxes

 

To learn more about available giving opportunities, please visit the “Links” area of the Tulsa Community Foundation Planned Giving Partnership Program page at Tulsa Community Foundation.

 

 

If you have an interest in scheduling an appointment for a confidential consultation, the following are links to the information that will be reviewed.  Please complete as much as you can prior to the initial appointment.

 Planning for your Appointment

BA Seniors Data Sheet

PLANNING FOR WOMEN

Today’s women represent a powerful financial force. Today’s women are accumulating, managing, and distributing more wealth than ever before.  For this reason it is important that every woman take control of her long-range financial and estate plans in order to ensure security for herself and her loved ones.

Modern women live longer than men, participate in the workforce in greater numbers, and control more than half of the wealth in America.

Because of these reasons, a will, trust or other estate planning document can be critical to making sure their wishes are carried out for the final distribution of their assets.

 

ADDITIONAL WAYS TO GIVE

 

There are many different ways to make a donation. Discover the areas below to learn new ways to make a gift that also take into consideration your personal circumstances and the needs of your family.

 

Securities

Stock that increased in value is one of the most popular assets used for charitable giving. Once the stock has been held for more than one year, it can be gifted.

Retirement Plan Assets

Funds in an employee retirement plan, IRA or tax-sheltered annuity contain income that has yet to be taxed. Your beneficiaries will owe the income tax at your death, sometimes as much as 35%.  This may be a reason to provide your loved ones less heavily taxed assets and leaving your retirement plan to charity instead.

Real Estate

Your property provides a unique giving opportunity. Many types of real estate can be donated to charity while enjoying tax benefits and potentially setting up a lifetime of income.

Closely Held Stock

A gift of closely held stock can provide a way to make a sizable contribution while providing a valuable tax benefit.

Life Insurance

The need for life insurance changes over time, providing an opportunity for its use a charitable gift. If you no longer need the coverage to protect your loved ones, consider changing the policy’s beneficiary to support the work of charity.

 

FOUR STEPS TO CREATING YOUR WILL:

 

  1. The Basics: start by getting yourself organized. Determine your objectives, the value of your property, inventory of your major assets, estimate of outstanding debts, and a list of family members and other beneficiaries to whom you want to pass assets.
  2. The Choice: if you have minor children or an adult child, a parent, or a spouse with special needs who is your dependent, you have to think about who will care for them when you are gone. Talk to your proposed guardian ahead of time about what you expect of them, and understand that if do not name a guardian, the courts will make the choice for you.
  3. The Executor: your executor undertakes such responsibilities as notifying all interested parties and agencies of your death, paying creditors and outstanding taxes, and distributing your assets according to your will. Without a will or executor, the courts will appoint one for you.
  4. The Professional: to make sure that you have taken care of heirs properly, seek the counsel of an estate planning professional to help you record your wishes in a legally sound will document.

For more information on supporting Broken Arrow Seniors with a Planned Gift or if you have any questions, please contact June Ross at june@baseniors.org or 918-259-8377.

 

***This information is not intended as legal, tax or accounting advise. For tax advice, please consult your financial professional.

 

 

 

Click here to learn more about Planned Giving