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Transferring assets through your will or through a life estate agreement or living trust can provide financial benefits to you and your heirs.

Bequests are one of the most popular and simplest ways to leave a legacy and decrease estate taxes because you may change them at any time. You may choose the form of your bequest:

  • A Specific Bequest states the exact amount of cash, real estate, securities, or other property to be gifted.

  • A Percentage Bequest states the percentage of the estate to be gifted.

  • A Residuary Bequest names Shepherd to receive all or a percentage of assets remaining after other bequests are fulfilled.

  • A Contingent Bequest states Shepherd will only inherit if your primary beneficiaries predecease you.

Life Estate Agreements
This irrevocable agreement gifts real estate to Shepherd while the donor retains the right to use the property for life. Tax benefits, which may include federal income, gift, and estate tax savings, are realized when the property passes to Shepherd.

Living Trusts
To create a living trust, a donor transfers assets such as cash, securities, or real estate to a trust, with the assets invested and spent for the benefit of the trustmaker. The trustmaker is taxed on the income and capital gains when they are distributed.

Living trusts may be revocable or irrevocable. An irrevocable trust avoids probate, reduces taxes, and creates a current income tax deduction. The assets cannot be removed from the trust.

A revocable trust may be amended or revoked at any time during the trustmaker's lifetime, and the assets may be removed by the trustmaker as long as he or she is alive and competent. This type of trust does not qualify for a current income tax deduction.

To make a planned gift, please contact us at 304-876-5378. We will be happy to work with you and your financial advisor to create a plan that's right for you.


Create the Future | P.O. Box 5000 | Shepherdstown, West Virginia | 25443-5000 | 304-876-5378 | 800-344-5231