Make a Difference

Remember Us in Your Estate Plan

You can make a lasting impact by including the Area Agency on Aging of Northwest Michigan (AAANM) in your estate plan. Whether you make AAANM the beneficiary of a life insurance policy or name us in your will or trust, your gift is a way to leave a very meaningful legacy.

Planning for the future and creating the legacy you wish to leave is one of the most effective ways to ensure a lasting impact. Making a gift in your will or living trust, known as a bequest, can guarantee that your legacy endures. Your gift may be a specific dollar amount, a percentage of your estate or the remainder after all other provisions are specified.

Here is some sample language to use when drafting your bequest.

I give and devise to Area Agency on Aging of Northwest Michigan (Tax ID 38-2056710), a nonprofit organization located in Traverse City, Michigan,

• the sum of ______ dollars; or
• an amount equal to ______ percent of the net value of my estate; or
• all the rest, residue, and remainder of my estate.

to be held, administered, and used by the Area Agency on Aging of Northwest Michigan to support programs and services.

Additional charitable giving options include listing the Area Agency on Aging of Northwest Michigan as a beneficiary on:

• IRAs and retirement plans
• Appreciated Stock

It is very simple.  Start by requesting a change-of-beneficiary form from your policy administrator or download the form from your provider’s website. Make your desired changes and return the form to establish your gift.

Consider an IRA Gift

If you or your spouse are over the age of 70 ½, you may need to take a required minimum distribution from an IRA account each year. One tax-savvy way to put this distribution to good use is by making a Qualified Charitable Distribution (QCD), also commonly known as an IRA Charitable Rollover. This type of gift can maximize your philanthropic impact and give you a tax advantage – a win-win for you and for AAANM. Please ask your accountant or financial advisor for more information.

Memorials and Tribute Gifts

If you have a loved one who has been impacted by AAANM, establishing a memorial or tribute gift is a meaningful way to honor them or celebrate a special occasion, such as a birthday, while supporting vital services for older adults and caregivers. Your memorial or tribute gift will extend the legacy of your loved one and will make a positive difference in the lives of others.

Stock Donation

Many people review their stock portfolio periodically to make gifts, selecting appreciated stocks (held for over one year) which have increased in value the most. These individuals give stock instead of cash because they have discovered the prudent stewardship, value, and enjoyment of maximizing their giving power.

A gift of stock may be donated at its current full fair market value. This means the donor receives a charitable income tax deduction credit based upon the stock’s current full fair market value, not the purchase price. The donor bypasses paying the capital gains tax due and maximizes their gift. In addition, the stock donor may deduct up to 30% of their adjusted gross income (AGI) in the year of the gift, with a five-year carryover for any unused portion of the deduction.

To receive a charitable income tax deduction the gift of stock must be transferred directly to a nonprofit organization, not sold.

Stock Transfer Form – click here to download

*The above is not intended as legal counsel. We encourage you to speak directly with your financial planning team, but we are here to help answer any questions about the long-term impact of your gift.