Planned Gifts
Many of Inspiration Corporation’s most committed volunteers and supporters have chosen to include us in their estate plans.  These planned gifts help ensure that Inspiration Corporation will always have the support it needs to assist people in improving their lives through the provision of social services, housing, and employment training in an atmosphere of dignity and respect.

In addition to furthering the mission of Inspiration Corporation, in certain cases, a planned gift can be a useful tool for minimizing estate taxes.

Bequests
One of the simplest ways to make a planned gift to Inspiration Corporation is through a bequest in your will or revocable living trust; for many people, this is also the most realistic way to make a significant financial contribution.  A bequest can provide cash, securities, and other types of property.  Bequests can be a specific amount, a specific piece of property, a specific percentage of the adjusted gross estate, or a percentage of the residue of the estate.

By hiring an attorney to help you with your estate plan, you can ensure that your wishes are carried out with the minimum of expense and time.  Most people discuss their estate planning goals with financial advisors, an attorney, and family members.  And don’t forget, you should update your will following life changes like births, deaths and marriage.  Alterations in the nature of your estate and the ever-changing tax landscape may also be cause to update your will or trust. 
download suggested bequest language >>

Gifts of Securities
A straightforward way to leave a legacy to help Chicago’s homeless is to make Inspiration Corporation the beneficiary of a brokerage or retirement account.  Such a gift removes the asset from the taxable estate and helps Inspiration Corporation carry out its mission.  To name Inspiration Corporation as a beneficiary, contact your broker or agent.  Generally, you will need to fill out a single form to effect such a gift.

Gifts of Life Insurance
You can designate Inspiration Corporation as the beneficiary of a life insurance policy, too.  Such an option may be appealing to people holding mature policies and whose beneficiaries no longer need the income the policy would provide.  Premium payments may even qualify as charitable deduction if you name Inspiration Corporation both owner and beneficiary of the policy.

Gifts of Retirement Assets
When included in an estate, qualified retirement plan assets may be subject to both deferred income tax and estate tax. By designating Inspiration Corporation as beneficiary of the remainder of an IRA, Keogh, tax-sheltered annuity, qualified pension or profit-sharing plan, the assets are passed on tax-free. 

For more information about giving to Inspiration Corporation, contact Diane Pascal at (773) 878-0981, ext. 204 or email her.