Kappa Sigma Heritage Society
Established in 1993, the Kappa Sigma Heritage Society recognizes
Brothers who have remembered the Order in their estate plan by naming Kappa Sigma as a beneficiary in their will, as owner and beneficiary of a life insurance policy or as beneficiary of a charitable trust instrument.
Each Heritage Society member has found that it is relatively easy to craft a gift of surprising significance to Kappa Sigma’s future, which will have an impact on generations of Kappa Sigma Brothers yet unborn.
It is important to realize any charitable gift you make is planned. When you give, you deliberately select the organizations in whose mission you believe and choose an amount to contribute. Often called planned giving, gifts from one’s estate require specific strategies, but many yield several tax advantages. All estate planning should be done in consultation with a qualified professional financial advisor.
A current and proper will is essential to effective estate planning and is a simple way for you to carry out your long-term objectives of caring for your family and others important to you.
A bequest in a will also allows you to make a larger gift than may be possible during your lifetime. A bequest can provide for either an unrestricted gift to the Kappa Sigma Endowment Fund or for the creation of a specific endowment, which will provide perpetual support to Kappa Sigma.
There are two types of bequests to consider.
- A specific bequest, identifying an exact amount or a specific asset.
- A residuary bequest which leaves a percentage of the remaining estate after the specific bequests have been met.
One of the most efficient methods of giving is by transferring appreciated assets — the most common of which is stock — to the Kappa Sigma Endowment Fund. A gift of long-term appreciated stock offers you two tax savings:
- You incur no capital gains tax on the increase in value of the stock from the time you bought it.
- You qualify to receive a charitable income tax deduction for the full market value of the asset.
- Through a charitable remainder trust, you can transfer assets — such as cash, stock or property — under a trust agreement that specifies how the income and/or principal will be distributed to you or others you select for your lifetime. At the expiration of the trust, the ‘remainder’ of the trust becomes available to the Endowment Fund.
- A charitable lead trust is the reverse of a charitable remainder trust. You would transfer assets to a trust with the income distributed to Kappa Sigma Endowment Fund for a number of years specified by you. At the end of that specified period of time, the entire assets of the trust would be distributed to the heirs you designated (e.g. grandchildren).
If you are interested in joining the Heritage Society and leaving Kappa Sigma in your plans, please contact Saria Winkler, at (434) 979-5733 or [email protected]