Planned gifts are complex and require expert support from a tax attorney or a financial advisor.
We are always willing to work with donors and financial advisors to make philanthropic planning comfortable and convenient. A wide variety of giving methods can be tailored to unique situations.
- Bequest by Will — A legacy of giving.
Including a charitable bequest in a will is a simple way to create a lasting legacy and benefit the community forever. Bequests can give cash, appreciated stocks, or other assets. Some of the most tax-efficient bequest assets come from retirement plan accounts since heirs would be taxed on the income in respect of the descendent (IRD). The gift can be a stated dollar amount, a specific property, a percentage of an estate, the remainder after other distributions, or a gift contingent on certain events.
- Charitable Remainder Trust — Plan for the future.
Establishing a Charitable Remainder Trust allows the donor to receive income for the rest of their life, knowing the remainder will benefit the community. The donor transfers assets into a trust which pays regular income payments. Upon the beneficiary’s death or after a defined period of years, the remaining assets transfer to the Community Foundation.
- Charitable Lead Trust — Give back to community and loved ones.
A Charitable Lead Trust builds a fund with the Community Foundation during the trust’s term. When the trust terminates, the remaining assets are transferred to the donor or their heirs, often with significant transfer-tax savings. The donor can create a trust during their life or through their will. The trust contributes to charity through Eastern Carolina Community Foundation — either for a number of years or for the donor’s lifetime.
For more information and ideas on ways to integrate complex financial planning with philanthropic giving, contact Sarah Shelley, the Foundation’s Executive Director or a financial advisor experienced in designing planned gifts for community foundations.