Estate Planning

You can help your client establish a charitable legacy by including The Community Foundation in their estate plan.

A variety of options are available that will allow your client to give to charity during their lifetime, after their death or receive an income for themselves or others.

For more than 35 years, the Foundation has partnered with generations of families to help perpetuate giving beyond their lifetime.

Bequests
The Community Foundation accepts bequests through a will or trust. This is an easy way for your client to transfer assets to the Foundation and provide for their favorite charities while retaining the use of their assets during their lifetime.

Life Insurance Beneficiary
Your client can name the Foundation as the beneficiary of their life insurance policy and the proceeds will be used to provide support for their charitable interests after their lifetime.

Retirement Plan Beneficiary
Designating the Foundation as the beneficiary of your client’s retirement plan or IRA is an ideal form of charitable giving. Retirement plans are the most heavily taxed of all estate assets.

Charitable Gift Annuity
A Charitable Gift Annuity is a way for your client to make a gift to their favorite charity, and still receive an income for themselves or others. In exchange for a transfer of cash, securities or property to the Community Foundation, your client and other designated individuals will receive a fixed income payment for life. Your client will receive an immediate tax deduction for their gift. Any remaining amount will be will be placed in a charitable endowment fund of their choice.

Charitable Remainder Trust
Your client’s charitable gift is placed in a trust that pays an annual income to them and other beneficiaries for a specified period of time. The remaining amount of the gift is used to establish a fund of their choice at the Community Foundation.  Your client avoids capital gains tax on the donated assets and the asset is removed from their estate reducing subsequent estate taxes.

Charitable Lead Trust
Your client can form a Charitable Lead Trust to establish a fund at the Community Foundation. During their lifetime the income from the trust is placed in their fund for charitable purposes. When the term of the trust ends, the balance of their assets is transferred to the beneficiaries they designate in the trust. This is an excellent way for your client to pass assets to their heirs at a reduced tax rate while making a gift to charity. Applicable estate or gift taxes on the value of the gift are greatly reduced.

For more information contact The Community Foundation for gift planning ideas that can help your client achieve their charitable goals at 251-438-5591 or email  info@communityendowment.com.