The links below will bring you a wealth of information. 

You may want to begin by looking at our "What is the best way to ...?" chart for an explanation of how different gift vehicles help meet certain needs.

Living Trusts

Charitable Gift Annuities

Gifts of Retirement Assets- NEW!!! Pension Protection Act of 2006

Glossary of Charitable Giving Terms

Gift Planning Options

Gifts of Appreciated Property

Charitable Remainder Trusts

Gifts of Life Insurance

Frequently Asked Questions

The Compassion to Care

Planning Your Will

A properly drafted Will assures that your wishes will be carried out. Review these frequently asked questions:

How Important is Having A Will?

What Are the Benefits of Having A Will?

How Do I Know if I Need A Will?

What if I Already Have a Will?

Suggested Ways You Can Remember Panama City Rescue Mission in Your Will

How Important is Having A Will?

 A will is much more than a legal document.  It is a testimony of your love and commitment to your family, friends, and organizations.  Without a valid will, your property may not be given to those you wish to receive it.

 Many of us don't realize that the government already has a plan for how your property will be distributed when you die.  The Probate Courts in each state are responsible for making sure that the property you owned is accounted for. 

 The Federal Government has an interest in the total value of your property.  If you owned enough, they want to collect Federal Estate Taxes on the amount over $1,500,000.  In some states an "Inheritance Tax" is also due.

 If there is anything left over, or if there was no tax due, the property usually goes to the spouse and children in equal shares.  This may mean that the court will control the portion designated for your children -- not your spouse.

 Finally, the charitable organizations we care about aren't even considered by the courts. 

 So you can see that by not having a written plan for how your property should be distributed, you are allowing the courts to dictate how your family and friends will be treated.

 The conclusion is that each one of us needs to have a will -- no matter how much we own.

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What Are the Benefits of Having A Will?

•  A will gives you the opportunity to decide who will receive your property and possessions.

•  A will allows you to provide for all those you care for - family, friends, and causes you choose.

•  A will protects the future of your minor children by insuring the guardian of your choice will be named for their care.

•  A will enables you to leave greater assets to your loved ones by taking advantage of estate tax laws which could provide substantial tax savings.

•  A will can provide financial support through establishment of trusts for loved ones and causes you care about.

•  A will permits you to insure that your financial support will continue through your bequest by specifying an amount or percentage of your estate to the Panama City Rescue Mission.

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How Do I Know if I Need A Will?

 You need a will when you have an estate of any size.  Whether your material possessions are many or few, you need a will to ensure proper distribution.

 It doesn't matter whether you are single or married.  Married couples can provide for their surviving family members and their future security.  Singles without children also need to insure that their wishes will be given proper attention.

 You need a will even if you and your spouse have joint ownership.  Without a will, assets may not be distributed as you wish.  A large portion of your estate could also be used to pay unnecessary taxes at death of the surviving spouse.

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What if I Already Have a Will?

•  Review your will every two or three years.  Gradual changes in your financial situation or new priorities may lead you to change the distribution of your estate.

•  Family changes such as marriage, divorce, the birth of a child, or the death of a family member will merit revisions to your will.

•  Changing responsibilities for family members who have become disabled or handicapped will cause you to revise the provisions made for their futures.

•  Revisions in state or federal laws could effect the plans you have made.

•  Never attempt to alter or revise your will from its original form yourself.  Changes should always be prepared by a properly drawn codicil or by drafting a new will with your attorney.

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 Suggested Ways You Can Remember

Panama City Rescue Mission in Your Will

If you choose to include the Panama City Rescue Mission in your will, would you please notify us by completing the estate intention form?  We would like to express our sincere appreciation for your support.

Return to the contact page or to the Ministry Support home page.

Please note, individual financial circumstances will vary. The information on this site does not constitute legal or tax advice. Donor stories and photographs are for purposes of illustration only. As with all tax and estate planning, please consult your attorney or estate specialist. All material is copyrighted and is for viewing purposes only. Use of this site signifies your agreement with the terms of use. The content in this Ministry Support  section has been developed for Panama City Rescue Mission by John R Frank Consulting Group, Inc. Please report any problems to webmaster.

Revised: May 29, 2008