CFSLC Legacy Society
With the Community Foundation of South Lake Legacy Society, you can make provisions today that will meet the needs of tomorrow. Take Lucille Smith, 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.
Another Legacy Society member Mr. Paul J. DeMuth, a designated fund was started to benefit the survivors of 911. With the input of his estate attorney this fund was developed for this donor at the Community Foundation. Now we will be able to support organizations that address issues caused by the 911 tragedy.
You too can make a difference forever to whatever cause is important to you.
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.
Frequently Asked Questions about the Legacy Society
By naming the Community Foundation of South Lake as a beneficiary in your estate plan.
You will have a sense of fulfillment, knowing you are supporting your community forever. If you agree, your name will be published in the Foundation’s newsletters, Annual Reports and other publication. You will also receive invitations to Foundation events.
Foundation staff will provide you with a Legacy Society Reply Form that you will fill in and return.
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.