When you draft a will, you can bequeath a gift of cash or property to be given to the Racine Community Foundation. The Foundation acts as a steward for the funds to ensure a donor’s charitable goals are met. The funds can be directed to an existing fund or, in the case of a bequest of $10,000 or more, can be used to establish a new charitable fund. If a new fund is established, a donor can choose the fund’s name. One service we can provide is to help your lawyer with the will language making the bequest, to ensure that what you intend will in fact work after you died.

 

A Charitable Lead Trust (CLT) is a sophisticated device used to create an income stream to the foundation first, for a term of years, after which the remainder is distributed, typically, to a younger generation. They require careful guidance from your advisor(s).

Charitable Remainder Trust

Charitable donations can include much more than just cash. Individuals often choose to donate property, which can be divided into two categories: real and personal. Real property includes land and land improvements: things that can’t be moved. Personal property includes moveable property, both tangible, such as cars and clothing, and intangible – property represented by paper, such as insurance policies and stocks.

Related Article: Unearthing Charitable Dreams, February 20, 2004
Related Article: Tangible Treasures: Maximizing Your Clients’ Philanthropy with Gifts of Collectibles, July 18, 2005
Related Article: New Law Restricts Tangible Asset Donations, January 19, 2005