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 a financial advisor experienced in designing planned gifts for community foundations.