Estate Planning

Estate Planning and ROW Kids (Reaching Our Worlds Kids)

As a 501 (c) (3) charitable, nonprofit organization, ROW Kids, Inc depends on donations for supplemental funding. Each year, thousands of individuals designate a portion of their assets by bequest to benefit charities. Bequests have become an important part of the American philanthropic tradition because they enable individuals to make significant gifts that they may not have been able to make during their life.

Bequests can include specific assets, such as stock, and can state a specified dollar amount. A residual bequest designates all or a portion of whatever remains after all debts, taxes, expenses, and all other bequests has been paid. A contingent bequest takes effect only if the primary intention cannot be met. For example, you might wish to leave a bequest to a certain individual; but, if that person does not survive you, then the bequest would go to the ROW Kids. This ensures that property will pass to the ROW Kids rather than unintended beneficiaries, including the government.

While most people own some form of life insurance because of its unique ability to meet a variety of needs for financial protection, its role in planned charitable giving is frequently overlooked. Life insurance itself can be the direct funding medium of a gift to the ROW Kids, permitting the donor to make a substantial gift for a relatively modest annual outlay. If you would like to leave a bequest to the ROW Kids or name the ROW Kids as a beneficiary of your life insurance, talk with your estate planner or attorney. This might be an avenue that would allow you to make a substantial investment in God’s work long after you’ve received your eternal reward.