Wills, Trusts, and More Simply Perfect Ways to Give to Charity

When doing your estate planning, you have the chance to benefit those individuals and institutions that benefited you in your lifetime. Many charitable donors have shown their appreciation to different charities by making provisions for the organization in their wills or trusts.

Whether you have a large or small estate, it is very easy to make a simple charitable donation in your will or trust.

First, when doing your estate planning, you can inform your estate planning attorney that you want a certain percentage, or a specific amount, of your estate to be distributed to the particular charity (this can be a church, school, or other charitable organization). Your gift does not have to be large.

Small amounts add up.

Your example of generosity and civic-mindedness, evidenced by a provision in your will or trust to provide for a specific charity, may be of more lasting value to your loved ones than the assets you actually leave them.

The simple process of leaving a certain percentage of your estate to the charity can be accom-

by Jeffery J. McKenna

plished through a will or trust. The procedure should not increase the cost of your estate plan nor the estate administration.

Another very simple method to provide for a charitable bequest upon your death is to add the charity as a beneficiary of your IRA. The process would require you to visit with your IRA provider and request that a new IRA account be established with whatever amount you want from your existing IRA account. This new account (or existing account if you want to use the entire amount of your existing account) would name the desired charity as the beneficiary.

Giving the charitable organization a portion of your IRA has many tax advantages. Upon your death, the proceeds in the IRA would be paid directly to the charity. Significantly, no income taxes would have to be paid. If the IRA proceeds were distributed to your children or grandchildren, they would have to pay income tax on the distribution. Using an IRA to make a simple bequest to a charity greatly benefits the organization, and saves income taxes for your heirs.

Who's Dumb Now?

A young boy enters a barber shop and the barber whispers to his customer, "This is the dumbest kid in the world. Watch while I prove it to you."

Marital Discord

A wife got so mad at her husband she packed his bags and told him to get out. As he walked to the door she yelled, "I hope you die a long, slow, painful death."

Touché

"If there are any idiots in the room, will they please stand up," said the sarcastic teacher. After a long silence, one freshman rose to his feet.

PANGUITCH OFFICE AT 46 NORTH MAIN STREET TO SERVE CLIENTS IN AND AROUND GARFIELD COUNTY.

Jeffery J. McKenna is a local attorney whose practice has been focused on Estate Planning for over 20 years. He is licensed and serves clients in Utah, Arizona and Nevada. He is a shareholder at the law firm of Barney, McKenna and Olmstead. If you have questions you would like addressed in these articles, please feel free to contact him at 435 628-1711 or jmckenna@barney-mckenna.com or visit the firm’s website at WWW.BARNEYMCKENNA.COM, he would enjoy hearing from you.

Additionally, it can save estate taxes as well. This article gives a few simple techniques to help those that want to benefit a charitable organization. I hope these techniques can be of assistance to you.

The barber puts a dollar bill in one hand and two quarters in the other, then calls the boy over and asks, "Which do you want, son?" The boy takes the quarters and leaves.

"What did I tell you?" said the barber. "That kid never learns!"

Later, when the customer leaves, he sees the same young boy coming out of the ice cream parlor.

"Hey, son! May I ask you a question? Why did you take the quarters instead of the dollar bill?"

The boy licked his cone and replied:

"Because the day I take the dollar the game is over!"

The Best Policy

My boss was honest with me today.

He pulled up to work with his sweet new car this morning and I complimented him on it.

He replied, "Well, if you work hard, set goals, stay determined and put in long hours, I can get an even better one next year."

THEME: Colors

1.

He turned around and said, "So, you want me to stay?"

PUNishment

Know any good rope jokes? I'm a frayed knot.

"Now then mister, why do you consider yourself an idiot?," inquired the teacher with a sneer.

"Well, actually I don't," said the student, "but I hate to see you standing up there all by yourself."

Sudoku

To Play: Complete the grid so that every row, every column and every 3x3 box contains the digits 1 to 9

This week's answers on B6

DOWN

1. "General Hospital" network

2. Crop of

3.

Perlman

32. Jeopardy

33. Sergio of Spaghetti Westerns fame

34. Follow as a consequence

36. Email folder

"Malcolm X" (1992) movie director 53. Stare openmouthed

55. Napoleon of "Animal Farm," e.g.

57. *Between blue and violet

60. *____phobia, intense fear of colors

63. Opposite of cathode 64. North American country 66. Run ____ of the law 68. Geography class book 69. Local area network 70. It's firma

71. Has divine power 72. Banned insecticide, acr.

73. German surrealist Max

5.

38. Cone-shaped quarters

42. Naiad or maenad

6. Winglike

7.

45. Motherless calves

49. Old horse

51. Long John Silver, e.g.

54. Modified "will"

56. Bottom-ranking employee

57. Opposite of "out of"

58. Hall of Fame Steelers' coach

59. June 6, 1944

60. "____ Buy Me Love"

61. Between dawn and noon

62. Yours and

31. "Cheers" actress

Lately, the weather report on Saturday says Sunday is going to be a nice day. Then, it starts snowing, and they then say that the nice day will be Monday. Don’t get me wrong, I love the snow and the moisture it brings to our valley.

The river is finally slowing, and the Piute Reservoir has cut way down on their outlet flow and should start to fill up again.

Last Monday, Pat and I went over to Monroe to see where the Tabernacle display was going to be—we are volunteers there. It is right on the road over from the freeway and on the corner of their Main Street. Much to our surprise, it was, and we did a tour of the display. As usual, the Church of Jesus Christ of Latter-day Saints did a firstclass job. Most of the information is about Moses and his 40-year trek with the Tabernacle in tow. By the end of their journey, their small band had swelled to over 600,000. It will run till tonight. If you haven’t