Leaving a Lasting Legacy
Marsha King Grady(Alpha Upsilon, The University of Alabama)
I want the impact I am making through my annual gifts today to continue for years to come, even beyond my lifetime.
As a past chapter advisor and Past National President, I am incredibly proud of the skills and opportunities we are providing our collegiate and alumnae sisters to develop into the best versions of themselves. I recently established the Marsha King Grady Leadership Fund to support educational and leadership programs that are part of the Real. Strong. Women. Experience. Through this endowed fund, my gifts will make an impact in the area most dear to my heart now but will also ensure I continue to have an impact in perpetuity.
The perpetuity part was critical in my choice to create an endowed fund. Donations to endowed funds are invested and managed by the Foundation to provide ongoing annual distributions to be awarded as grants. I can, of course, give now to support any educational or leadership program within the Fraternity through the Foundation's Real. Strong. Women. Fund. But, I want the impact I am making through my annual gifts today to continue for years to come, even beyond my lifetime. With an endowed fund, I am ensuring my support remains constant and, better yet, grows to be even more significant.
My $25,000 endowed fund will generate about $1,000 each year to support a cause that I love. And while that may not seem to be a large impact now, I have also included the Foundation in my estate plan as a beneficiary of my IRA, which will increase the size of my fund after my lifetime.
Isn't planned giving wonderful? It's a gift that creates an impact that will continue to grow after I'm gone.
IS AN ENDOWMENT GIFT RIGHT FOR YOU?
If you would like to learn more about how you can make a gift to establish an endowed fund to ensure your impact on Alpha Chi Omega continues in perpetuity, please contact us. We would be happy to work with you to structure an endowment gift to meet your charitable goals.
IS A BENEFICIARY GIFT FROM YOUR RETIREMENT ACCOUNT RIGHT FOR YOU?
Your retirement plan is probably among your most valuable assets. While the retirement asset is a great asset for you, it may not be the best asset to leave to your children. If you have a taxable estate, your IRA or 401(k) plan will be subject to the estate tax, and any distributions to children will also be subject to income tax. That is why many tax planners suggest leaving the residual of retirement plans to charity. This gift will produce an estate tax deduction and the charity will not have to pay the income tax on the gift.
If you are in the process of determining which assets are "good" assets to leave to charity and which assets might be "good" to leave to family, please give us a call. We can help you with estate planning strategies that can reduce your taxes and allow you to maximize the gifts you leave to family and charity.