Dedicated to CARE

Maura Bean and Barbara Lyons

Maura, Far left, with sister-in-law Barbara Lyons, 1965

CARE places special focus on working alongside girls and women to fight poverty. When explaining why we focus on girls and women to our supporters, we usually talk about CARE program participants whose personal stories exemplify the great impact girls and women can have on the lives of others.

However, in 2014 we learned of a donor who exemplified the same qualities we highlight in program participants. That year, CARE's Planned Giving team received a generous check from the estate of Maura Bean. In conversations with Bean's niece, we learned she was a prominent agricultural scientist who successfully dedicated years of her life to improving the nutritional properties of staple grains.

Bean held several patents, including U.S. Patent 3949093 A, April 1976, "Process for improving quality of protein-fortified baked goods". Long-time family friend and fellow agricultural scientist Leo Kissell recalls Bean as someone who cared not only for the people around her but, through her work in nutrition, for people she'd never met. Kissell says Bean spent a considerable amount of time in Bolivia in the early 1980s, working with Bolivian scientists on programs to improve the quality of local grains.

"We used to pick her up from the airport," Kissell says. One time Bean shipped back a small amount of bread flour from Bolivia to test its nutritional properties in her lab. Kissell recalls with a smile how Bean was worried U.S. customs officials might mistake the flour for an illicit substance. "It would be hard to prove on the spot it was bread!" he laughs.

Bean was a great example of what CARE means when we say that, equipped with the proper resources, women have the power to lift whole families and entire communities out of poverty. She did it in life and, by naming CARE in her will, made certain she continued doing it even after she was gone.

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How Care's Expenses are Allocated

A charitable bequest is one or two sentences in your will or living trust that leave to CARE 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, [name], of [city, state, ZIP], give, devise and bequeath to CARE [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 CARE 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 gift 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 receive an immediate federal income tax charitable deduction. 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 CARE as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 CARE 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 CARE where you agree to make a gift to CARE 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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