Our Development Staff is readily available to discuss these opportunities with you:
Gifts of Life Insurance
When appropriately arranged, life insurance offers an attractive way to benefit
Pennybyrn at Maryfield. If you wish to support Pennybyrn at Maryfield through a
gift of life insurance, you will find numerous advantages. To do this, talk with
your insurance professional.
Gifts of Real Estate
The outright gift of a parcel of appreciated land or other real estate is a method
that may offer considerable tax savings, and the gift is immediately available to
Pennybyrn at Maryfield. Please speak with the Director of Development about potential
real estate gifts.
Retained Right to Use Real Estate
A special provision in the federal tax law permits a contributor to transfer ownership
of a personal residence or farm to Pennybyrn at Maryfield and still retain the full
use of the property while receiving a current income tax deduction.
Gifts with Retained Use
Life Estate Agreement
A life estate agreement is an arrangement whereby you transfer the title to a personal
residence, farm or yacht to charity while retaining the right to occupy and otherwise
enjoy the full use of the property for your choice of a term of years of the lifetime
of one or more individuals.
Gifts Opportunities Which Provide Income to You
To calculate the deduction of your preferred charitable contribution, click on the
links provided after each option.
Charitable Gift Annuity
A charitable gift annuity enables you to transfer cash or marketable securities
to the charitable organization issuing the gift annuity in exchange for a current
income tax deduction and the organization’s promise to make fixed annual payments
to you for life. Annuity payments can begin immediately or can be deferred to some
future date.
Charitable Remainder Annuity Trust
A charitable remainder annuity trust is a custom designed and individually managed
trust that enables you to retain a fixed income for your lifetime or a fixed term
of years, claim a current income tax deduction and make a future gift to charity.
Planned Gifts
A Will
At your death, a will assists your personal representative in distributing your
assets to other people or to a charity. If you do not have a will, you are powerless
over how your assets are distributed. Instead, the laws of the state where you reside,
the state in which you spend most of your time, register to vote and hold your driver’s
license, determine how your assets are divided.
Revocable Living Trust
A revocable intervivos or “living” trust is an important part of the estate plan
of many people. Intervivos means “during life,” which is when the trust is established.
Revocable means that the creator (also known as the grantor) of the trust can change
the terms of the trust or revoke it completely during his or her lifetime. Assets
in trust are not part of your will. They are transferred according to the instructions
in the trust document at the time of your death.
Power of Attorney
A general power of attorney permits the holder of the power to act on behalf of
another individual—the grantor—and lapses upon the grantor’s incompetence. A durable
power of attorney survives the incompetence of the grantor and allows the holder
of the power to act. This document can be used when a grantor lapses from competence
to incompetence for periods of time.
Gifts that Provide Income to Charity
Charitable Lead Annuity Trust
A charitable lead annuity trust is a custom designed and individually managed trust
that enables you to give a fixed annual amount to charity of either a fixed term
of years of the life of one or more individuals.
Upon conclusion of the measuring term, the trust terminates and, according to the
terms of trust instrument, distributes its remaining assets (called the remainder
interest) back to you or to one or more individuals that you have specified.
Charitable Lead Unitrust
A charitable lead unitrust is a custom designed and individually managed trust that
enables you to give a variable annual amount to charity for a fixed term of years
or the life of one or more individuals.
Upon the conclusion of the measuring term, the trust terminates and, according to
the terms of trust instrument, distributes its remaining assets (called the remainder
interest) back to you or to one or more individuals that you have specified.
To Make a Gift
To make a gift to Pennybyrn at Maryfield or to discuss any questions about giving
opportunities, please call our Development Office at (336) 821-4020
You may also contact us by e-mail at ecordick@pbmccrc.com
Pennybyrn at Maryfield
Development Office
Attn: Edward Cordick
109 Penny Road
High Point, NC 27260
Phone: 336-821-4020
Click on any of the following links to learn more about supporting Pennybyrn at Maryfield: