Planned Giving
Estate Planning For Advisors
When a person begins to consider charitable giving, their trusted financial advisors are often the first to be consulted. We respect the relationships that you have developed with your clients and complement the services you offer. The Foundation for Enhancing Communities (TFEC) can work collaboratively with you to connect your clients to the causes they care about most and help them understand how to achieve their charitable goals.
Planned Gifts
We can assist you and your financial advisor in developing planned gifts that meet your needs. Each giving vehicle provides specific advantages to fit your individual situation.
Bequests
The simplest planned gift is a bequest that directs specific amounts or assets, or a percentage of your estate, to create a fund or add to an existing fund. A simple designation in your will is all that is needed. Click here for sample language that your attorney can incorporate into your estate plan.
Charitable Remainder Trusts
With this type of trust, you transfer assets that pay you or other beneficiaries an income for life or for a fixed term. When the trust matures, the remainder is used to establish a permanent fund in your name, with charitable distributions directed as you have chosen.
Charitable Lead Trusts
With this type of trust, you create an endowment fund at TFEC to receive the trust income for a fixed term. When the trust expires, the income or assets may be distributed to other named non-charitable beneficiaries, and your fund will remain at TFEC and continue to benefit the community as you have directed.
Life Insurance Policies
Many donors make a gift by assigning a life insurance policy to TFEC. Simply secure or transfer a policy and name TFEC as owner and beneficiary. Any ongoing premiums that you make may be tax deductible. When the policy matures, a permanent named fund is established to support your charitable causes.
Retirement Plan Assets
Large Individual Retirement Plan Asset (IRA) accounts at death may pay up to 70% in income and estate taxes. A good way to reduce taxes is to include charity as an IRA designated beneficiary. This can be done through an outright gift or by using a Charitable Remainder Trust that makes payments to your family members. Through TFEC, you can distribute your IRA after death in a tax-wise way and create a fund to benefit the community.
