Over the past three years, 80 attorneys, bankers, CPAs, financial advisors, and
insurance agents from our southwest Minnesota region have participated in one or more luncheon discussions to learn how charitable alternatives can be helpful to their clients. We’ve covered topics like wealth management, farmland giving, IRS laws and increasing retirement income.
Charitable alternatives are the instruments used by donors to leave their legacy for the benefit of future generations. They are often called planned gifts and they may be made outright or deferred. Types of gifts include:
- Bequest by will
- Revocable Living Trust
- New or existing Life Insurance Policy
- Retained Life Estate
- Charitable Remainder Uni-trust
- Charitable Remainder Annuity Trust
- Charitable Gift Annuity
- Charitable Lead Trust
- Donor Advised Funds
A donor’s assets can also be used to fund a legacy gift. Asset gifts include:
- Cash
- Securities
- Personal Property
- Farmland
- Real Estate
- Retirement Assets
Professional advisors can be helpful to clients by explaining how these charitable alternatives could work in their estate plans and appropriate assets to use to fund their legacy gifts. When clients decide what they want their giving to accomplish there’s probably a way to do it. Planned gifts should be beneficial to the donor and to the charity they support, like SWIF and our 120 funds. Our Professional Advisor discussions are designed to better equip advisors as they help their clients establish the gift portion of their estate plans. Ask your advisor if they’ve attended a session and have ideas for your estate planning.
Our fall session will feature Trust Officer Greg Kummer with Security Bank & Trust who will discuss “Succession Planning Using Charitable Alternatives” Wednesday, Oct. 7 in Hutchinson and Wednesday, Oct. 14 in Slayton.
To register for one of these sessions, call Bob Golberg at (320) 583-4799 or e-mail [email protected].
