Questions to consider for legacy gifts

Published 10:18 am Thursday, April 2, 2015

Jeff Baldus
Austin Area Foundation director

Austin Area Foundation helps residents plan ahead, visiting questions that should be considered concerning gifts, estates

What good work can I do?

You can support the arts, enrich education, promote community development, foster a stronger community… tell us what is important to you.

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When should I include the gift in my estate plan?

Any time you are drafting or changing your will or estate plan, you will want to consider charitable gifts. Your financial or legal advisor can provide guidance related to your personal estate, beneficiaries, income goals, taxes, and other considerations. In addition, you may find it simpler to designate the Community Foundation as a beneficiary to your 401 (k), IRA or life insurance policy.

How do I plan a legacy gift?

Call your estate advisors, talk to us, or consult with both. We provide confidential philanthropic services to prospective donors and their advisors, without pressure or obligation. Making a legacy gift is easy:

•Make a beneficiary designation or include the Community Foundation in your estate plan.

• Upon your death we carry out your charitable intentions and handle all administrative tasks.

Why do people give to charity through their estate plans?

Planning an estate gift allows you to strategically accomplish both financial and charitable objectives. For some people, a large charitable gift during their lifetime can be financially uncomfortable since they may be uncertain about their health, wealth, and personal commitments.

An estate gift may make more sense. You can still fulfill your personal goals of preserving your family name, honoring loved ones, providing for heirs, minimizing tax burdens and supporting the community you call home.

What assets should I give?

Your professional advisor can recommend your most tax-advantaged assets any time you make a charitable gift. Most people choose to give stocks, real estate and other highly appreciated assets during their lifetime and designate 401 (k), IRA, and other retirement assets upon their death.

If you have any questions or would like more information, please contact Jeff Baldus at 507- 434-7494 or