Create a Legacy in Crawford County
During the estate-planning process, a donor will typically provide for their family and loved ones and then look to fulfill their philanthropic wishes. A gift in a will may be used to establish various fund types. The CF4CC is able to accept bequests in many forms, including specified amounts, gifts of stocks, or other assets. A simple designation in a will or trust will provide a lasting legacy for an individual or family.
Recent Changes Regarding IRAs
Thanks to recently passed legislation, American seniors can make the gift of a lifetime by gifting individual retirement account (IRA) assets directly to the Foundation free from federal taxes.
In 2006-7, a provision in the new Federal Pension Protection Act of 2006 allows those seniors aged 70½ and older to directly transfer up to $100,000 from an IRA to a charity this year—and another $100,000 next year—federal-tax free. If married, each spouse can transfer $100,000 per year from his or her IRA.
These gifts, made during your lifetime, can be used to establish various fund types. What a wonderful way to see your charitable giving at work!