A bequest to save taxes

Stephen supported several charitable organizations during his lifetime including the Salvation Army and Porter-Leath. He wanted to ensure that his estate included support for those groups. He worked with his estate attorney to devise a plan that would benefit the organizations while also avoiding sizable estate taxes. His professional advisor recommended that he make a bequest of his residence to his fund at the Community Foundation.

Upon Stephen's passing, the Foundation received and subsequently sold the house. The proceeds from the sale went into a fund at the Foundation that his two daughters advise. They are able to make gifts that carry on their father's legacy of generosity.

You may also want to make estate planning decisions that avoid significant taxes while also supporting the organizations and causes you value. Email Director of Development Caroline Kuebler or call her at (901) 722-0036 to learn more.