Planning to Give
Planning gifts that will fulfill your dreams after your lifetime
–D. Elton Trueblood
The Hancock County Community Foundation offers you a simple, powerful, and highly personal approach to charitable giving. We can provide you with a variety of giving “tools” to help you achieve your charitable goals. Your interests and charitable intent are our primary concerns.
HCCF understands and appreciates the fact that you need to balance your family’s needs, your personal lifestyle, and your financial resources with your concern for organizations and causes that you love. Keeping this balance requires careful financial planning. The Foundation can work together with your professional advisor to help you make the best possible decision for your charitable giving.
The following information presents you with a variety of ways to benefit your favorite charity by including the Hancock County Community Foundation in your overall financial and estate plans.
Charitable Bequest in your Will or Trust
The simplest and most common way to leave your legacy is to designate a gift or percent of your estate to set up an endowment fund at your community foundation; in some cases, you may receive a substantial reduction in federal gift and estate taxes while supporting Hancock County. Include a simple statement in your will such as:
“I give [a specific $ sum] or [percentage of my estate] or [number of shares of stock of X Company] to the Hancock County Community Foundation.”
Where there’s a will there’s a way!
Gifts of Life Insurance Policies
Whether it’s a policy you already have but no longer need, or a new policy you buy for the specific purpose of making a future gift by making HCCF the beneficiary, a gift of life insurance can be advantageous to both you and the organization(s) named in your endowment fund.
Gifts of Retirement Plan Assets
Qualified retirement plans are very expensive assets to pass on to our children; they carry a significant income tax liability and can also be eroded by estate taxes, in some cases as much as 80% of the value! Naming a fund at HCCF as the beneficiary of your retirement plan may reduce or avoid federal estate and income tax owed, leave less highly taxed assets for your children, and provide more for charitable causes in Hancock County than you ever thought possible.
Charitable Gift Annuities
Consider a gift that pays you back! A charitable gift annuity is a simple contract in which HCCF, in return for a gift of cash or other property, agrees to pay you a fixed sum of money for your lifetime (to one or two people–the annuitants). At the time of death, the remainder of the gift annuity stays with HCCF to serve Hancock County.
You may establish a trust that financially benefits you for your lifetime or loved ones you have named as beneficiaries for a specified number of years. The dividend income from your gift to the Foundation is paid to you or that beneficiary for life; the remaining principal may be used to establish a fund at HCCF in your name or another of your choosing.