Simplifying Life at Tudor Oaks Leads to Healthy Outlook

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More than just springtime has sprung up at Tudor Oaks retirement community. A renovation project took root in January that includes plans for expanded and upgraded apartments, new public areas with a swimming pools and whirlpool, and even a future nine-hole, par-3 executive golf course.

Today, many residents enjoy watching the action through a temporary viewing window. But the construction is being conducted in such a way as to keep life at Tudor Oaks largely free of distractions for residents like Barb Kutz, who appreciates the added value Tudor Oaks is providing its residents.

Barb moved into Tudor Oaks after her husband died and she ended up living alone on the family farm outside Beloit, Wis. "We were concerned because Mom was on the farm alone and isolated with not much social life. Also, Mom has a history of memory issues, and they were evolving," explains Barb's son, Ed.

Barb's children talked about the problem, and while "everybody was scared to death of her getting in a car and driving, nobody wanted to take the stand of taking it away," Ed recalls.

Ed and his wife, Darlene, live next door to Tudor Oaks and decided to take a tour and review the different programs and services offered. Afterward, Barb and her children agreed that Tudor Oaks offers a nice solution.

"Living here is just like living anywhere," Barb says. "There are a lot of people here that you get to know, and lots of different friends, and you get to do a lot of things."

On the farm, his mother tried using notes to keep track of her medications, but they'd always get lost or forgotten, Ed adds. "Now we have a nurse come in every morning to make sure she's taking her medication at the same time every day."

Barb's notes these days are mainly about important items on her social calendar—like exercise class, which she takes four times a week.

"It didn't take long for us to see that she was going to be OK with the move here," Ed says. "We know that the socializing has helped her immensely."

A charitable bequest is one or two sentences in your will or living trust that leave to American Baptist Homes of the Midwest 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

The official bequest language for American Baptist Homes of Midwest to share with your attorney is: "I, [name], of [city, state, ZIP], give, devise and bequeath to American Baptist Homes of Midwest [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 ABHM 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 ABHM 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 ABHM 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 ABHM where you agree to make a gift to ABHM 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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