Providing for a cause that is close to your heart can be very fulfilling.
Giving back to the community by preserving historic sites & places, green space, and our cultural heritage are notable examples. Thus, the reason for the launch of the Heritage Foundation of Williamson County’s 1799 Society. The Society is named after the year Williamson County was created by the Tennessee General Assembly.
Incorporating charitable giving into your estate plan requires careful consideration of your charitable objectives, family needs, and income requirements. Current tax laws provide valuable tax benefits for individuals, trusts, and estates that donate to qualified charities. The income and estate tax regulations governing charitable gifting can be simple or complex depending on the details surrounding the gift. A tax advisor should be consulted to aide in the process.
Some basic ways to use your estate for charitable “testamentary” gifting include:
- A bequest, via your last will and testament, of a specific cash amount or real property (residence, ranch, land, or even artwork).
- Adding the charity as a beneficiary of an annuity policy.
- Adding the charity as a beneficiary of a life policy.
- Adding the charity as a beneficiary of an IRA or retirement plan.
Additional estate planning articles will be written throughout the year by our 1799 Society Committee Members who are experts in their chosen professions. They include Nick Birren, Tyler Berry, Amy Cavender, Keith Davis, Justin Gilbert, Grant Hood, Wm. Lee Horn, and Brad Smith.
The Heritage Foundation will recognize those who have already remembered the Foundation in their estate plans, and those who notify us by the August of 2023 to do so as Charter Members of the 1799 Society. This can be easily done by clicking this link and completing the fillable documentation form.
You can always remain anonymous in your philanthropy. However, we encourage those who make a commitment as a 1799 Society member to share their name as they are an inspiration to others to look toward the future and learn how they too can have an enduring impact on the preservation of Williamson County.
For more information about the 1799 Society and gifts through your estate, please contact Grant E. Martin, CFRE, FAFP (615) 591-8500 ext. 122 or by e-mail at gmartin@williamsonHeritage.org.
