Estate Giving for Professional Advisors
Bequest by Will or Trust
A bequest to the Columbus Foundation can be easily made through a simple designation in a will or trust to establish a fund or add to an existing fund. Suggested language can be provided to you to be included in your client’s estate planning documents. The Foundation accepts bequests in several forms, including cash, securities or personal property. Your client may contribute a specific dollar amount or asset, a percentage of the estate, or the residual of his or her estate in this manner.
Under current law, your client’s estate will receive a charitable deduction for the full donation to the foundation, so your client’s heirs will not pay estate tax on these assets.
Charitable Gift Annuity
A charitable gift annuity is a contract between your client and The Columbus Foundation that gives your client the opportunity to make a charitable gift and secure a stream of income for life. Under this agreement, your client may transfer assets (cash or securities) to the Foundation in exchange for the Foundation's commitment to pay a fixed amount to your client for the remainder of their lifetime. In addition, your client receives a current charitable income tax deduction. Upon the termination of the gift annuity, the remaining assets are then contributed to establish a fund or add to an existing fund at the Foundation. The Foundation staff can prepare calculations illustrating lifetime income and charitable income deduction. A Charitable Gift Annuities is perfect for the client who is reluctant to invest in the stock market but would like higher interest rates then a Bank CD.
Charitable Remainder Trust
A charitable remainder trust allows your client to make a gift to the community, receive income, and receive a substantial charitable income tax deduction. It is a trust that pays either a fixed or variable income for your named beneficiaries' lives or for a fixed term not exceeding 20 years, or a combination of the two. When the trust term expires, the remaining assets in the trust pass on to
establish a fund or add to an
existing fund at the Foundation.
Have any questions? Contact a member of our Donor Services team by
e-mail.