“Estate planning costs far less than the average tax refund,” said Boyd Johnson, a former estate planning attorney and The Master’s College’s planned giving officer. “Using your refund to pay for a will or trust is an investment in your legacy.”
For couples with school-age children, the need for estate planning is pronounced. “If you care about who will take care of your children in the event you pass away, you need a will,” Johnson advises. “That’s where you designate a guardian. If you don’t have a will, you take your chances on who gets your kids.”
Another benefit of an estate plan is that it allows you to designate who will receive your property after you pass away, including charities. Donating a portion of your estate to a charity is an opportunity to communicate to loved ones your values. “A charitable bequest made to The Master’s College speaks volumes to your heirs about what causes are closest to your heart,” says Mark Aydelotte, Vice President of Advancement. “This kind of gift to the college can be used to create endowments that benefit students forever.”
Dr. Mark Tatlock, Executive Vice President and Provost, is excited for the future of the college. Currently, The Master’s College has multiple new initiatives that need funding. “With plans to create a nursing program and expand our facilities,” he said, “this is a historic moment in the life of the college and we will depend on estate gifts to meet our goals.”
Johnson recommends the TMC’s planned giving website (/plannedgiving) for a wealth of estate planning articles that are updated monthly. “We’ve made an investment to ensure that friends of the college have the best information available to them to make their estate planning decisions.” The website includes a free Gift Illustrator tool (pictured at right), which allows donors to instantly visualize the benefit of their gift to TMC as well as their tax benefits.
Those who include TMC in their estate are eligible to be part of the new Legacy Society, which includes benefits such as special member-only events and an exclusive newsletter. Contact Boyd Johnson at 661.362.2659 to become part of the Legacy Society.