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Estate Planning

At some point in time, each of us will have to make decisions concerning the distribution of our estate when we pass into heaven. Biblical stewardship not only refers to income, but to the management of all of our assets…which upon our passing, will go to someone else. Whether your estate is modest or large, it is wise and biblical to plan for how your assets will best serve your family, your church, and charities that you support.

It is our desire that you will embrace this aspect of Biblical stewardship…that you will take action if you have not already done so, by speaking with a financial advisor, and making a plan. As you make your plan, will you please consider Sandy Cove in your estate planning?


Become a Member

The Palmer Family Legacy Society

The Palmer Family Legacy Society will honor the innovative and forward-thinking spirit of the Palmer family by showing appreciation to those who have established Sandy Cove Ministries in their will and/or estate planning.

In addition to storing up treasures in heaven, you will be helping fulfill the spiritual needs of future generations at Sandy Cove.

Becoming a member is easy and eternal. Simply list Sandy Cove in your will or estate.

When you become a member of The Palmer Family Legacy Society, you will receive the following:

  • a special plaque on the Sandy Cove Legacy of Faith Donor Wall,
  • an insider’s correspondence or meeting attendance from the President of Sandy Cove Ministries, and
  • an invitation to an annual luncheon with other participants of the Palmer Family Legacy Society.

We’ve asked long-time Sandy Cover, Ted Derrick, at Keystone Heritage Advisors, LLC, to make presentations on the various ways you can bless your heirs and Sandy Cove, while minimizing the fees and taxes due from your estate.

Below are some of the ways you can give to Sandy Cove through your estate and how it works:

Types of Estate Gifts

  • Wills & Trusts
    Make a gift now to Sandy Cove Ministries in your trust or will, directing assets to your heirs and Sandy Cove Ministries. (click here for story)
  • Gifts of Retirement Assets
    Name Sandy Cove Ministries as the beneficiary of your IRA, 401(k) or other tax deferred plan and when you pass away, any assets you did not use while living passes to Sandy Cove Ministries. (click here for story)
  • IRA Charitable Rollover (Congress allows this from time to time)
    Instead of taking an IRA distribution for income, make a charitable rollover directly to Sandy Cove Ministries and you avoid paying any tax on this gift. (click here for story)
  • Gifts of Life Insurance
    When you name Sandy Cove Ministries as owner and beneficiary of your life insurance, you make a gift each year to us and we pay the premium, or you own the policy, pay the premium, and simply name us as a beneficiary. (click here for story)

Partnership Gifts

  • Charitable Bargain Sale
    Sell your property to Sandy Cove Ministries for a below market price, resulting in a part gift and part sale. We sell the property at market value and use the proceeds for ministry.
  • Charitable Gift Annuity (Immediate)
    Give cash or appreciated assets to Sandy Cove Ministries and receive high, fixed income for life, along with several tax benefits. We receive the principal when the donor passes. (click here for story)
  • Charitable Gift Annuity (Deferred)
    This gift is ideal for younger donors. Give cash or appreciated assets to Sandy Cove Ministries and receive several tax benefits. At a specified future date, receive high, fixed income for life. Sandy Cove receives the principal when the donor passes.
  • Charitable Lead Trust
    Contribute cash, securities, or property to a trust. The trust makes fixed annual payments to Sandy Cove Ministries and when the trust ends, the remaining principal goes to your heirs.
  • Charitable Remainder Annuity Trust
    Contribute cash, securities, or property to a trust. The trust makes fixed annual payments to you or anyone you name and when the trust ends, the principal passes to Sandy Cove Ministries.
  • Charitable Remainder Unitrust
    Contribute cash, securities, or property to a trust. The trust pays a percentage of the market value, re-valued each year, to you or named beneficiary. When the trust ends, the principal passes to Sandy Cove Ministries.
  • Donor Advised Fund
    Make an irrevocable gift to a public foundation. Designate Sandy Cove Ministries to receive income and/or principal payments from your gift. Continue in-perpetuity giving at your passing.
  • Retained Life Estate
    Transfer your residence, farm, vacation home, or other property to Sandy Cove Ministries, subject to a life estate. Live in your property for life or a specified number of years, being responsible for taxes and upkeep. The property passes to Sandy Cove Ministries when the life estate ends. (click here for story)

Stories

Wills & Trusts

By adding us to her will, Marcia, a gracious and generous woman of God, made it possible for many guests to receive the blessing of scholarships to Sandy Cove after her passing. Through her thoughtful consideration and blessing, we also had funds for facility repairs and equipment.

Gifts of Retirement Assets

A loving woman of God made sure that she gave the balance of her retirement assets to Sandy Cove and when she passed away…she provided funds to make much needed improvements in and around the facility.

IRA Charitable Rollover

Long-time guests of Sandy Cove made the decision to give a gift from their IRA, thus avoiding the payment of taxes on their gift and helping Sandy Cove reduce the debt on the new wastewater treatment plant.

Gifts of Life Insurance

Having seen the benefits of family time at Sandy Cove, a very generous couple decided to name Sandy Cove as their beneficiary in their life insurance to provide for future generations of families to enjoy the same benefits they enjoy now.

Charitable Gift Annuity (immediate)

A wonderful couple who love Sandy Cove Ministries wanted to make a gift by providing a charitable gift annuity.Through their generosity more than 50 scholarships were provided for Sandy Cove guests.

Retained Life Estate

A precious woman loved Sandy Cove so much she left her home to the ministry when she passed away with cancer. Summers together with her family at Sandy Cove left a huge imprint on her heart and on her life as a child and as an adult.