With the Community Foundation of South Lake Legacy Society, you can make provisions today that will meet the needs of tomorrow. Take Lucille, a member of the community who had a heart for the mission of Habitat for Humanity. Through thoughtful planning and with the assistance of her estate attorney, Lucille left her estate in the form of an endowment at the Community Foundation of South Lake. This allows a portion of her estate to go towards building a house in this community each year. Because of this considerate decision, her legacy will continue to impact her charity of choice forever.
You can provide a permanent source of support for your charitable interests while generating tax savings and even personal income through deferred gifts to the Community Foundation of South Lake.
There are several options available for your deferred gift.
- Bequests – You make a gift from your estate to the Foundation. Your estate may claim a tax deduction for the full amount of your charitable bequest.
- Charitable trusts – You designate in your will that a certain amount of money or property will be transferred to the Foundation. Your estate receives a charitable deduction for the full, fair market value of your gift.
- Life insurance – You make a gift of life insurance to the Foundation. You may find you no longer need the financial protection of existing life insurance policies. Making the Foundation a beneficiary of all or part of your policy would capitalize a new fund at the time of your death, and your estate would receive a charitable deduction based on the policy’s current value.
- Retirement assets – You name the Foundation as the beneficiary of all or part of your retirement plan assets upon your death. Your estate avoids paying large income and estate tax bills.
With a bit of planning today, you can ensure that the charitable causes that have grown important to you and your family continue to be supported, in your name, long after you’re gone. The Legacy Society is one of the ways the Foundation expresses its gratitude for your foresight and generosity.
Frequently Asked Questions about the Legacy Society
How do you become a Legacy Society member?
By naming the Community Foundation of South Lake as a beneficiary in your estate plan.
How are you added to the list?
By completing a Legacy Society Reply Form that you receive at the time you notify Foundation staff
What benefits do you receive as a Legacy Society member?
If you agree, your name will be published in the Foundation’s newsletters, Annual Reports and other publications; you will receive invitations to Foundation events, and a sense of well-being, knowing you are supporting your community forever.