|
Securing Our Future:
The Power of Giving Together
 In 50 years, $1.35 trillion is expected to pass from one generation to the next in Illinois. In just 10 years, $182.3 billion of it will have transferred. To secure our future, we must prepare now!
National research projects a $31.2 trillion transfer of wealth across the United States. But while the average transfer nationwide will peak after 50 years, wealth transfer in many Illinois counties will crest in the next twenty to thirty years. In McHenry County, the greatest wealth transfer will likely happen between 2015 and 2025.
Much of this wealth is currently resting in family homes and farms, retirement accounts and other appreciated assets - some of which may be heavily taxed if given to heirs.
A one-time opportunity to create permanent benefits for McHenry County
If only 5% of local wealth was earmarked for charitable endowment, the resulting $3.14 billion fund would generate millions every year for community projects and priorities in McHenry County - forever.
The McHenry County Community Foundation invites you to secure our future by building the Community Legacy Fund, an endowment dedicated to improving quality of life in McHenry County.
When you give through the McHenry County Community Foundation, we can establish a fund in your family name, in the name of a loved one, or to a cause that’s important to you. Endowed funds last forever and grow over time because the principal is never spent. Earnings are used to make grants in the name of your fund - creating a legacy of giving in McHenry County. Learn more about endowment.
Ways to Give
If you are retired, a planned gift from your estate may be more attractive to you and your family than a large gift today. You can leave a permanent legacy of giving, be a source of pride to your family and join others like you - building a stronger community.
Three smart, easy ways to make a planned gift to your Community Legacy Fund include:
- Designate your Community Foundation as the beneficiary of your IRA, 401(k) or other retirement account
These assets can lose up to 70% of their value when passed to heirs; and, changing the beneficiary designation does not involve modifying your estate plan.
- Designate your Community Foundation as the beneficiary of a life insurance policy
There is no need to modify your estate plan.
- Ask your attorney to add the McHenry County Community Foundation to your estate plan
Contact us to schedule a meeting with you and your professional advisor to discuss all of your giving options and choose the one that’s right for you and your community. Call us today at 815.338.GIVE (4483).
|
