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Gift Planning

Inspired by a Legend

CoffeyJack W. Coffey made the decision in 1991, but it was many years earlier when he was inspired. As a young boy, he went with his father to the baseball field at 22nd and Brooklyn in Kansas City, Mo. It was there he saw a player named Ted Williams. Jack heard a story about Ted supporting the Jimmy Fund and it stuck with him. Little did Jack know he would grow up to have the same dream as Ted Williams—to beat cancer.

Growing up, Jack enjoyed spending time with his uncle, Dr. Ralph R. Coffey. Dr. Coffey would take Jack with him on rounds at the hospital where he worked. Jack saw many patients, but it was the cancer patients that really stood out.

After graduation, Jack took a job at General Hospital as a purchasing agent, where he worked for more than 30 years. In addition to being responsible for all the purchasing at General Hospital, he supplied Children's Mercy and several other area health care facilities. The children at Children's Mercy stuck with him.

Jack, himself, has battled cancer more than once and also suffered a severe beating during a home robbery. He knows adversity, which has earned him the nickname "the Comeback Kid."

In 1937, Jack's father took him to see the Yankees at spring training. It was there he had a baseball autographed by Lou Gehrig and Babe Ruth. Jack saved that ball until recently when he donated it to the Cancer Center at Children's Mercy.

In addition to the autographed baseball, Jack has donated a model train, model boat, model airplane and two metal pedal cars to the children at Children's Mercy. He is most proud, however, that he has made the proper arrangements in his trust so his assets will help generations of children battling cancer make a comeback, like Joseph, whose story you can read on Page 4. Jack is truly an inspiration, and we appreciate his generosity.

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A charitable bequest is one or two sentences in your will or living trust that leave to Children's Mercy a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Children's Mercy, a nonprofit corporation currently located at Kansas City, MO, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Children's Mercy or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Children's Mercy as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Children's Mercy as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Children's Mercy where you agree to make a gift to Children's Mercy and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

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