You may be worth more than you think. At least that's what many peo· pte discover when they take the time to add up their assets. Retirement funds have grown, real estate values have increased, investments have multiplied, insurance policies have expanded, and things of value have accumulated over the years.
55 percent. Consequently, it's not unusual for a person with a larger estate to discover, sadly, that more than half of his or her hard-earned money will eventually wind up in the hands of Uncle Sam - even though the person had previously paid income tax on much of this wealth.
Now here's the third surprise: a little planning can make an enormous diJJerence. For example, did you know that you can actually redirect money that is beaded for Uncle Sam by earmarking it to a charity of your choice? Did you know that estate gifts to qualified charities are 100 percent deductible?
First, have you checked your financial worth lately? Chances are you'D be pleasantly surprised.
Gift and estate planning are weU worth the investment of your time - even if your estate is modest and taxes are not an issue. Planning allows you to make the decisions about your estate, not the government.
Second, if you find yourself above the $600,000 level, another surprise may await you - the high estate taxes due after you die.
A good place to begin is to contact the Development Department for our free brochure on estate planning. It's a good introduction to this area and can help you get started.
For example, if you have assets worth $1.4 million, it is possible your estate will have to pay taxes of nearly $320,000. And, if that part of your estate includes a qualified retirement fund and the named beneficiary is someone other than your spouse, did you know that the recipient will have to pay the IRS the deferred income tax on that entire retirement account? And, yes, this is in addition to the estate tax.
Contact Bro. Fred D. Rissinger, Director of Development or Bro. john R. McFadden, Planned Giving Officer. They will be happy to assist you through the gift planning process in complete confidence and at no cost or obligation. You can reach them at (800) 599-6454 or (717) 367-1121, ext. 33311 .
r-·-------------------------------------------, (Complete and return this coupon)
To Development Department of the Masonic Homes:
For estates in excess of $3,000,000, the estate tax rate is
THE GRAND LODGE F.&A.M. OF PENNSYLVANIA Masonic Homes One Masonic Drive Elizabethtown, PA 17022-2199 Return Service Requested
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Send me the brochure on estate planning.
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Send me the brochure on Taking Stock and Giving lt. Contact me regarding a planned gift to Masonic Homes. Send me the brochure on Giving Through Your Will. Contact me about a personal visit or other assistance.
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MAIL THIS FORM TO: DEVELOPMENT OFFICE Fred D. Rissinger, Director of Development Masonic Homes One Masonic Drive Elizabethtown, PA 17022
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