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Planned Giving

Generations of Giving

Endowing a Legacy

Wilma DainsStormont-Vail Foundation is the beneficiary of a $620,000 estate gift for the establishment of an endowed nursing scholarship.

The gift - the second largest in the Foundation's 30-year history - was made by Wilma Dains, a retired Topeka teacher who established a trust naming Stormont-Vail as a beneficiary nearly 20 years ago.

With the exception of a bequest made by her father's estate, Ms. Dains had no documented relationship with Stormont-Vail. The Rev. Emery Dains, a Methodist minister, also established an endowed nursing scholarship through his estate at the time of his death in May 2003. The two planned their estates together.

"This gift will provide significant annual scholarship support to Baker School of Nursing students at Stormont-Vail HealthCare," said Jane Mackey, Foundation president. "While we wish we would have known Wilma, we are certainly humbled by her confidence in Stormont-Vail and thankful for her gift which will certainly have a positive impact on the lives of many for years to come."

Rev. Dains spent 65 years in Topeka serving several Methodist churches in the Kansas East Conference. He retired as administrator of the Methodist Home in Topeka.

Wilma Dains was a quiet, private person who enjoyed reading, knitting, and traveling. She received her Bachelor of Education degree from Pittsburg State University and Master's degree in education from Emporia State University. She spent her career as an educator, retiring in 1992 after 31 years at Potwin Elementary School. Wilma passed away on February 18, 2014 at Aldersgate Village in Topeka.

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A charitable bequest is one or two sentences in your will or living trust that leave to Stormont-Vail Foundation 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 Stormont-Vail Foundation, a nonprofit corporation currently located at 1500 SW 10th Ave., Topeka, KS 66604, 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 the Foundation 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 the Foundation 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 the Foundation 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 the Foundation where you agree to make a gift to the Foundation 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.

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