ESTATE GIFTS

Naming Kingdom Flight as a beneficiary of your estate today will serve to remind your family and friends that throughout your lifetime and beyond, you cared for the “least of these”. Certainly there is no better way to be remembered and no better gift to leave behind. Your legacy in this regard is easy to create and can cost nothing to establish. In fact, doing so may save your estate a great deal in taxes.

 Establishing an Estate Gift

Creating an estate gift simply requires one to name Kingdom Flight as a beneficiary of all or a percentage of one’s estate. The following will show you how easy it is to make an estate gift and establish your legacy of providing for the poor through Kingdom Flight.

 Should you decide to name Kingdom Flight as a beneficiary of your estate we simply ask that you send a copy of your estate designation to Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630 so that we will have a copy for our records.

 Will – The most common way a person transfers their assets to their beneficiaries is through a will. The following are ways that you can name Kingdom Flight as a beneficiary in your will.

 1) Percentage Gift - Name Kingdom Flight as a percentage beneficiary in your will. Sample language: “I hereby give, devise and bequeath an amount equal to _____% (_________ percent) of the total value of my estate to” Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630

 2) Residuary Gift - Name Kingdom Flight as a residuary beneficiary in your will. The residuary of one’s estate is basically anything that is not specifically left to someone and that which remains after the payment of all costs of estate administration.  Sample language: “I hereby give, devise and bequeath the residuary of my estate to Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630”

 3) Specific Gift - Name Kingdom Flight as beneficiary of a specific monetary amount from your estate or a specific asset or group of assets (such as real property, securities or tangible personal property) from your estate. Sample language:

“I hereby give, devise and bequeath a monetary amount of $________ to Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630  or,

“I hereby give, devise and bequeath all my right, title and interest in [Description of real property, securities or tangible personal property i.e ‘my personal residence  located at 123 Main Street, Anytown, USA’] Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630.

Trust – Many people use a trust as part of their estate plan. While your attorney is responsible for the legal aspects of your trust, naming Kingdom Flight as a beneficiary of your trust estate can easily be done. The following are options and suggested language for naming Kingdom Flight  as a beneficiary of your trust estate.

1)Percentage Gift - Name Kingdom Flight s a percentage beneficiary of your trust estate. Sample language:

“The trustee shall distribute from the trust principal to Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630 an amount equal to _____% (_________ percent) of the total value of my trust estate”;

 or

2) Specific Gift - Name Kingdom Flight as beneficiary of a specific monetary amount from your trust estate or a specific asset or group of assets (such as real property, securities or tangible personal property) from your trust estate. Sample language:

“The trustee shall distribute from the trust principal to Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630. 92056 a monetary amount of $________ to Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630 or

“The trustee shall transfer and distribute from the trust principal to Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630 all right, title and interest in [Description of real property, securities or tangible personal property i.e ‘my personal residence  located at 123 Main Street, Anytown, USA’] to Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630”;

Life Insurance – Providing money at a time when money is needed, life insurance serves a very important role for many families. However, as times changes so do our families and their needs. If time has diminished or alleviated your need for life insurance, naming Kingdom Flight as a beneficiary of all or a percentage of your existing life insurance policy is an easy way to make an estate gift and establish your legacy of caring for the “least of these”.

To name Kingdom Flight as a beneficiary of your existing life insurance policy, all you need to do is ask the life insurance company for a change of beneficiary form and simply insert the following as the name of your new beneficiary:

"Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630”

Retirement plan accounts - Many of us have diligently saved for retirement through various tax deferred retirement plans. IRA, SEP IRA, SIMPLE IRA, 401(k), 457, 403(b)/TSA, etc., the list of tax deferred retirement plans goes on and on. Although they each have their own unique rules, they all share one very unattractive feature. All are subject to both estate and income taxation at death. Worse case scenario, this double taxation can have the negative affect of reducing the amount that your beneficiary may actually receive by up to 80%.  For example, from a retirement account that was valued at $1,000,000 prior to death, the government could receive up to $800,000 in estate and income taxes while your beneficiary would receive only $200,000.

 Because a vast majority of your retirement plan assets are destined to be paid to the government in the form of taxes, the best option for you may be to leave your retirement plan assets to Kingdom Flight upon your death. By naming Kingdom Flight as a beneficiary of all or a percentage of your retirement plan assets, you at least will have the comfort of knowing that all the retirement assets you decide to leave Kingdom Flight will be used to provide for the poor for years to come.

 To name Kingdom Flight as a beneficiary on any of your retirement plan accounts, all you need to do is ask the custodian or retirement plan administrator for a change of beneficiary form and simply insert the following as the name of your new beneficiary:

 “Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630”

Annuities - Annuities can be great retirement savings vehicles that, just like your retirement plan accounts, have enjoyed years of tax-deferred growth. Unfortunately, as with your retirement plan accounts, your annuity investments are subject to both estate and income taxation at death. 

Once again, because a vast majority of your annuity investments are destined to be paid to the government in the form of taxes, the best option for you may be to leave your annuity investments to Kingdom Flight upon your death. By naming Kingdom Flight as a beneficiary of all or a percentage of your annuity investments, you will have the comfort of knowing that your legacy will have been forever established through supporting Kingdom Flight.

 To name Kingdom Flight as a beneficiary on any of your annuity investments, all you need to do is ask the annuity company for a change of beneficiary form and simply insert the following as the name of your new beneficiary:

 “Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630”

Real Property – Owning a home, a vacation home, a commercial building, an undeveloped parcel of land or even a farm, provides one with a sense of comfort and financial security. But what about when you pass away, when you no longer have a use or need for owning real property? What will become of the property? How will the property be used?

 By naming the Kingdom Flight as the beneficiary of your real property, you will have the comfort of knowing that your real property will be used to support the ministry of Kingdom Flight for years to come. By simply agreeing to give Kingdom Flight your real property at that time when you no longer have a use or need for such, you will forever establish your legacy of helping the “least of these”. We believe there is no better way to be remembered and no better gift to leave behind.

 To name Kingdom Flight as a beneficiary of your real property, all you need to do is to include the following language as part of your estate plan:

 “I hereby give, devise and bequeath all my right, title and interest in [Description of real property i.e ‘my personal residence  located at 123 Main Street, Anytown, USA’   to “Kingdom Flight, 27295 Hampden Terrace, Lake Forest, CA 92630”

Website created by Brad Bieganski - Copyright © 2002 Kingdom Flight. All rights reserved. Revised: January 17, 2007