By establishing your plans to give later, you have the assurance of knowing you’ll be helping your community long after you’ve gone. Did you know that if everyone in Mason County leaves just 5% of their estate, whatever the size, over $136 million will be invested in our community over the next 50 years? Imagine how much good that can do. With a little planning, you can continue showing your love for Mason County or supporting your favorite causes long after you’ve gone.
If you take this step, please let us know. We want to thank you, hear your story, and acquaint ourselves with your plans so we are sure to carry them out as you desire. Estate gifts can include:
Including a gift in your will or trust is a great way to contribute to the future. Work with your attorney to indicate a specific amount or percentage to come to the Foundation, then talk to us about what you’d like your gift to do for the community. If your thoughts about what to support change over time, all you need to do is let us know and we can update our records.
IRA, Retirement Plans, or Life Insurance
Name the Foundation as a beneficiary of your IRA, retirement plan, or life insurance policy. It’s as simple as contacting your plan administrator and updating the beneficiary form to include a percentage for the community. Often your retirement account is your largest single asset. However, once it is passed on to your heirs, there’s a massive tax bite. You can avoid that taxation by using these retirement plan assets to build your charitable legacy.
Charitable Remainder Trust (CRT)
A CRT will eventually transfer property to the Foundation after paying income to one or more noncharitable beneficiaries for life, or a set number of years. These gifts allow you to receive income for the rest of your life, knowing that whatever remains will benefit your community.
Charitable Lead Trust (CLT)
A CLT is the opposite of a CRT. With a CLT, income payments are made initially to one of our funds for a term of years. At the end of the term, the remaining assets pass to heirs or others you choose.
Note: If you are a professional advisor and would like additional information on giving arrangements that can benefit your clients, contact Jeanne Oakes.