Planned Giving: for today and tomorrow.
You can start your legacy today or you can leave a legacy tomorrow. Either way, you have the opportunity to create a brighter future for children, adults and families in East Tennessee by remembering the Helen Ross McNabb Center in your estate planning. Your thoughtfulness can help support programs and services that make a real difference not only in the lives of individuals but the community as a whole.
There are many ways to donate, from making a donation in honor of a loved one to making a bequest in your will. Planned giving options allow you to determine the best way to give that works both with your financial situation and desire to make a meaningful impact in the lives of others.
Ways to give include:
Charitable Remainder Trust:
With the assistance of an attorney, you can establish an irrevocable trust naming yourself, another individual or a bank as a trustee. The Helen Ross McNabb Foundation can also serve in this capacity. You may transfer cash, securities, or other property to the trust. The trust then pays an income to you and/or other beneficiaries for life, for a term of up to 20 years at a certain percentage or dollar amount as determined when the trust is established. When the trust's term concludes, the remainder is distributed to the Helen Ross McNabb Center. There are some significant tax benefits to the charity of your choice for years in the future.
Bequest:
A bequest is a gift made by naming the Helen Ross McNabb Foundation as a beneficiary in your will. This is a popular method of remembering the Helen Ross McNabb Center because of its simplicity. If you already have an up-to-date will, your attorney can add the Helen Ross McNabb Foundation as a beneficiary using the following language.
"I give, devise and bequeath to the Helen Ross McNabb Foundation the sum of $___________."
Alternatively, you can bequeath a particular asset or percentage of your estate rather than a dollar amount.
Life Insurance:
Donors may list the Helen Ross McNabb Foundation as the beneficiary of a new or existing life insurance policy. Upon your death, the charity you have designated receives the proceeds as the beneficiary of the policy. This may provide your estate with tax benefits.
Retirement Plans:
By naming the Helen Ross McNabb Foundation as the beneficiary on death of all or a portion of your qualified retirement plan, such as an IRA or a 401(k) plan, or by making lifetime gifts from these plans to the McNabb Foundation when you are eligible to withdraw benefits from such plans, you will be supporting the vital work of the McNabb Foundation, either now or in the future. You may also receive personal tax benefits by naming the McNabb Foundation as the beneficiary on death of qualified retirement plans or making lifetime goals of those benefits. You will need the help of the plan administrator to make beneficiary designations or assist with gifting of qualified retirement plan assets for charitable purposes.
