LEGACY PARTNERS FOR LIGHT AND SALT MINISTRIES NICARAGUA
As a past or current supporter of LASM, we are delighted to tell you that we have now created an opportunity for you to become a new Legacy Partner by including LASM as a beneficiary in your Estate plans. Your vision and generosity will enable us to continue our critical work here in Nicaragua.
It is really a simple process. First, fill out the enclosed form indicating to us how you would like to leave your legacy. Then make a beneficiary change to your Life Insurance or investment; make an addition to your Will; or name LASM in your Estate Plans. .
Your generous support will insure that LASM will continue to impact the lives of those we serve here in Ciudad Dario, Nicaragua – the boys, the women, the elderly, the future generations of this country. Your partnership means that even more families will have the opportunity to break cycles of violence and dysfunction through our hands-on discipleship, training, and poverty relief programs. Because you give, entire families can have a future and a hope. .
Thank you for considering becoming some of our first Legacy Partners!
Tara Germain,
Founder, Executive Director
WHAT IS YOUR LEGACY?
Consider the people and organizations that are important to you – you can create a future for your family and leave a legacy of giving. Legacy planning provides valuable tax benefits and ensures the assets you have acquired during your lifetime are distributed according to your own charitable goals.
Naming Light and Salt Ministries as a beneficiary, partial beneficiary or contingent beneficiary of any account will have a lasting effect. Your legacy gift will help us plan for the future of our work in Nicaragua. Your gift will allow us to teach literacy and life values to young boys, provide work skills to women, and bring the Gospel of Jesus Christ to the people of Nicaragua..
WAYS TO LEAVE A LEGACY
Understanding Types of bequests (with suggested Will clauses)
When giving a specific bequest, you designate a specific dollar amount or piece of property to Light and Salt Ministries. This may include real estate, stocks, bonds or works of art.
Suggested Will Clause:
“I give the sum of (bequest amount or description of property) to Light and Salt Ministries, 817481575 RR 0001, to be used for purposes as determined by the Board of Directors.”
When giving a residual bequest, you designate a donation from the balance of an estate to Light and Salt Ministries after debts, taxes, expenses and other bequests have been paid.
Suggested Will Clause:
“I give the residue (or set percentage of the residue) of my estate to Light and Salt Ministries, 817481575 RR 0001, to be used for purposes as determined by the Board of Directors.”
When giving a contingent bequest, you are designating a gift to take effect only if the primary intention cannot be met (e.g. if the primary and alternate beneficiaries do not survive the donor.
Suggested Will Clause:
“If neither (name of primary beneficiary) nor (name of alternate beneficiary) survives me for 30 days, then I give (describe amount of cash, property, percentage of residue or other gift) to Light and Salt Ministries, 817481575 RR 0001, to be used for purposes as determined by the Board of Directors.”
Designating your gift for unrestricted or restricted use
Unrestricted Gifts
When giving an unrestricted gift, the Board of Directors for Light and Salt Ministries has the discretion to determine the best use of the funds to ensure their maximum potential is achieved for training and empowering the people of Nicaragua. This decision will be made in collaboration with staff at the Centre in Nicaragua.
Gifts for a Special Interest
If you have a special interest for the work of a particular area of Light and Salt Ministries, you may wish to restrict the use of your gift. Since it is difficult to anticipate the changes and developments that may occur in the future, we recommend you include a “power to vary” clause to ensure your gift will deliver maximum value to recipients of your gift in Nicaragua.
The following clause in your Will would outline such an interest: “… to be used for (specific purpose) provided, however, that if the circumstances make the specified use of this bequest impractical or undesirable, the Board of Directors is authorized to apply the bequest to other purposes that conform as much as possible to the spirit and intent of this bequest.”
Gifts by Beneficiary form
For more information, please contact Peggy Hegbar at hegbarp353@gmail.com
