Planning Your Legacy
Look ahead another ten, twenty, thirty, or forty years down the road. Are the causes you care about still being supported, uplifted, and moved forward?
With planned giving, you can ensure that’s the case. When you remember the community foundation in your estate plan, you are making a decision to support your charitable goals for years to come. Such a gift allows you to preserve your family name, honor loved ones, provide for heirs, minimize your tax burden, and most importantly, make significant contributions to our community that may not have been possible during your lifetime.
When should I include the gift in my estate plan?
Any time you are drafting or changing your will or estate plan, you will want to consider charitable gifts. Your financial or legal advisor can provide guidance related to your personal estate, beneficiaries, income goals, taxes, and other considerations. In addition, you may find it simpler to designate the Community Foundation as a beneficiary to your 401 (k), IRA or life insurance policy. When you notify us of your intentions, you automatically become a member of the Legacy Society.
What is the Legacy Society?
The Legacy Society is a group of individuals and couples who have named the Community Foundation as the beneﬁciary of any type of planned or deferred gift. The purpose of the society is to acknowledge and thank those who have made these gifts and to encourage and inspire others to do the same.
Who joins the Legacy Society?
Members of the Legacy Society have a few things in common. They have worked hard, saved wisely and invested well. They understand the power of endowment and know that the assets they leave to the community will continue to grow, supporting good work for generations to come. Most importantly, they love Otsego County and want to see it thrive forever.
How do I plan a legacy gift?
Call your estate advisors, talk to us, or consult with both. We provide confidential philanthropic services to prospective donors and their advisors, without pressure or obligation. Making a legacy gift is easy:
- Make a beneficiary designation or include the Community Foundation in your estate plan.
- Notify us of your intentions so we can invite you to be a member of our Legacy Society.
- Upon your death we carry out your charitable intentions and handle all administrative tasks.
What assests should I give?
Your professional advisor can recommend your most tax-advantaged assets any time you make a charitable gift. Most people choose to give stocks, real estate and other highly appreciated assets during their lifetime and designate 401 (k), IRA, and other retirement assets upon their death.
Must I give a large portion of my estate to join the Legacy Society?
Planned giving does not require a large income or vast estate, but only a thoughtful intention to make a difference in our community. We value and appreciate all gifts, and believe the best gift is the one that’s right for the donor.
Contact Dana Bensinger to discuss Legacy Society options at 989-731-0597 or [email protected]