Staff

 

Laura Heintzelman
President & CEO
(231) 723-7269

Give Later - Planned Gifts

Planning Options

For many of us, making a substantial charitable gift during our lifetimes simply is not possible.

The Foundation offers many options that you can take advantage of now to leave a legacy without risking your personal security. Some even make it possible for you to create an income source during your lifetime.  The options below enable you to establish and name a new fund, or to contribute to any of the Foundation’s existing funds (including your own, if applicable).

Click here to see a planned gift comparison chart.

Charitable Bequests
Make a charitable gift from your estate with a simple bequest, as noted in your will. See the professional advisor download center for sample bequest language.

Charitable Gift Annuity
With a Charitable Gift Annuity (CGA) you will receive a life income, determined by your age, in exchange for your charitable gift and qualify for multiple tax advantages.

Charitable Remainder Trust
Charitable remainder trusts (CRTs) provide for the eventual transfer of property to charity after paying income to one or more non-charitable beneficiaries for life or a fixed number of years.

Charitable Lead Trust
The charitable lead trust (CLT) is the opposite of the charitable remainder trust where the lead interest is income provided to charity. With a charitable lead trust, income payments are made initially to a named charitable fund at the Manistee County Community Foundation for a term of years or for the lives of individuals. At the end of the term, the remaining assets pass to heirs or other individuals you designate. For the donor who wants both to leave something to children and grandchildren, and to minimize the percentage taken by estate and generation-skipping transfer taxes, setting up a CLT makes sense. The trust will reduce estate taxes and prevent property from being taxed to the donor's children. Not only does the community benefit during all those in-between years, the heirs receive much more than they would have otherwise.

Note: If you are a professional advisor and would like to receive further information or personalized illustrations on gift arrangements that can benefit your clients please contact the Foundation for assistance.

IRA/Retirement Fund
You have been putting away money for years in an IRA or other qualified retirement plan. If you are like a growing number of Americans, that IRA may be your largest single asset—a nest egg to leave behind for the children's future. But you may not realize the massive tax bite the plan is subject to once it is passed on to the beneficiaries. That legacy intended for your children could amount to just 20 cents on the dollar as a result of combined estate tax and income taxes on the IRA. Preserve the value of retirement funds and prevent your family from paying estate and income taxes by naming the Community Foundation as a beneficiary.

Life Insurance
List the Manistee County Community Foundation as a primary, secondary or contingent benficiary of a life insurance policy.