 Helpful Articles
from David Vollrath,
Union County Foundation Executive Director
The Foundation encourages you to work closely with your professional advisor(s)
as you develop your estate plan and consider your present and future charitable goals. |
Why Wouldn't You?
(Part of a series of articles on charitable giving and the Union County Foundation
by David Vollrath - Executive Director)
"Why wouldn’t you?"…..I was at a loss for words. I realized that I really didn’t have a good
answer to the question. The question was recently offered by one of our trustees after a discussion advanced the
idea that many people of our County should be investing in Union County Foundation based charitable gift annuities.
It seemed so obvious that the product offers so many advantages to so many people that it really does beg the question
"Why wouldn’t you want to set up a charitable gift annuity for yourself?"
After pondering the question I can only conclude that too many of us aren’t aware of the local availability through
the Union County Foundation and that there is a perception that the product is too complicated and that it is only
for the "rich and famous" not for the majority of us who consider ourselves just "common folk."
The Foundation has offered the product for several years and like community foundations throughout the country
does so in an effort to promote and enable charitable giving in local communities. The product, while sounding
complicated (probably part of the problem) is really quite easy to understand and even easier to initiate.
Here is the easy to understand description of how a charitable gift annuity works. 1.) You determine how much money
you want to invest in a Union County Foundation charitable gift annuity (as little as $5000). 2.) The Foundation
agrees to pay you guaranteed annual payments based on a fixed annual % of your investment (up to 11% depending
on your age) for the rest of your life regardless of how long you live. 3.) Upon your death the balance in your
account goes to the Union County charity(s) of your choice. In simple terms you also need to know that there are
numerous tax savings that accompany your gift annuity.
All of us should continually look for ways that we can favorably impact the future. A Union County Foundation charitable
gift annuity is a simple tool to do just that. The interest rates paid are substantially higher than market rates
and you are leaving a specific legacy to the future betterment of Union County. In all ways it is truly a win/win
situation. Perhaps now you understand my inability to answer the question…….Why wouldn’t you?
The Union County Foundation is equipped to help you achieve your charitable goals by providing: planned giving
and estate planning resource information, charitable gift annuities/life income plans, and Donor Advised Fund information.
Please call us at 937-642-9618, email us, or stop by our Marysville office at 126 N. Main St. We are committed
to helping you…. "preserve your footprint in time." |
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