Create a Lasting Legacy

When you make a gift to Milton Community Foundation through your will, as a beneficiary of your life insurance policy or retirement plan, 

or through gifts of non-cash assets, you make a powerful statement about what matters to you.

Planned and estate gifts can take many forms and therefore can meet the needs and circumstances of many donors. Below are examples of several common forms of planned gift. To determine what works best for you, your family, and your circumstances, please consult your estate or financial planner.

Remember Milton Community Foundation in your will. 

Including Milton Community Foundation as a recipient of a percentage or specific dollar amount in your will is easy to do. Each individual situation is unique and, therefore, the following examples include only some of the possible gift opportunities. We encourage you to share your final will provision with the Milton Community Foundation to ensure that your wishes will be properly followed and recognized. Here is some language that you can give to your attorney, or insert in a will that you are preparing yourself: 

Percentage of estate for unrestricted purposes 

I give, devise, and bequeath to the Milton Community Foundation, a not-for-profit organization located in Milton, Delaware _____ percent (%) of the rest, residue, and remainder of my estate as an unrestricted gift to be used for the general purposes of Milton Community Foundation. I instruct that all of my charitable gifts shall be made, to the extent possible, from property that constitutes “income in respect of a decedent” as that term is defined in the Internal Revenue Code. 

Specific amount for unrestricted purposes 

I give, devise, and bequeath to Milton Community Foundation, a not-for-profit organization located in Milton, Delaware the sum of $_______ in cash (or ________ shares of ________stock) to be used for the general purposes of Milton Community Foundation. I instruct that all of my charitable gifts shall be made, to the extent possible, from property that constitutes “income in respect of a decedent” as that term is defined in the Internal Revenue Code.

Make a gift of non-cash assets

Gifts of non-cash assets can enable some donors to make gifts that are larger than they would otherwise be able to manage. They also can help the donor avoid capital gains taxes and take an income tax charitable deduction of the full fair market value of the asset when it is donated instead. These assets include:

• · Publicly-traded stock
• · Closely-held stock
• · Life insurance
• · Real estate
• · Retirement plan assets

Name Milton Community Foundation as a beneficiary on a retirement or investment account

Naming Milton Community Foundation as a beneficiary of your retirement account, bank and investment accounts, 

or life insurance policy is another simple and powerful way to make a meaningful gift without changing your will or living trust. Beneficiary designation gifts pass directly to Milton Community Foundation without going through the probate process. Simply contact the company that holds your retirement plan or life insurance policy. Let them know that you would like to update your beneficiaries, and they will send you a form. Then, fill out what percentage you would like to go to Milton Community Foundation. You can also leave a legacy by naming Milton Community Foundation as a Transfer-on-Death (TOD) or Payable-on-Death (POD) beneficiary on a bank or investment account, or a commercial annuity.  If you have a life insurance policy that is no longer needed for your family, designating Milton Community Foundation as a beneficiary is a simple way to support our important work.

Gifts of stock, other securities, or other appreciated assets 

Donating stock, other securities, or other appreciated assets directly to Milton Community Foundation is one of the most tax-wise ways to make a difference. For many people, stocks that are part of a larger investment portfolio are not integral to their day-to-day finances and monthly cash flow. This means gifts of stock do not significantly affect their monthly living expenses. Gifts of appreciated assets to charitable organizations allow donors to take an income tax charitable deduction for the full fair market value and avoid capital gains taxes.
 

To determine the best way for you to make a planned gift or a gift of stock, other securities, or other appreciated assets to Milton Community Foundation, speak to your legal, tax, and/or financial advisor. They can give you specific advice about tax advantages and the most beneficial form and timing of your planned gift.

For more information

Milton Community Foundation is honored to recognize donors who have made planned gifts of $5,000 or more, or who have included a similar gift commitment in their estate plan, in our Legacy Society. 

If you would like to discuss any form of planned gift, a gift of stock, other securities, or other appreciated assets, please contact Barry Goodinson at barrygoodinson@icloud.com.