| Martha Farrington, Planned
Giving expert with a wealth of experience in that field,
has
joined the Board of Concept 7. An attorney as well as
financial planning expert, Martha recently became the
Vice President of the South Coast Medical Center Foundation
after leaving Hoag Hospital in Newport Beach, where
she
served as Director of Planned Giving. Martha began her
career at the USC School of Medicine and not only writes
articles on the subject of financial and estate planning,
but is often asked to speak to groups on this subject
as well. Look for articles in our newsletter from Martha
regarding the various aspects of major and long-term
charitable
giving. |
Anything is possible when you are a Concept 7 kid ! |
What does the phrase "planned giving"
actually mean? Many people, according to Martha, have misconceptions
about this interesting subject. First, planned giving is a
long-term program which requires careful consideration and
the advise of experts. The one thing planned giving is not
is regular donations to a charity, although of course these
are always welcome and form the basis of future expanded gifts.
A planned gift is a major gift which requires
specific expertise in order to accomplish the goals of the
donor. It could be a charitable remainder gift in the form
of appreciated real estate. It could be an insurance policy
which provides income for the life of the donor. Assets from
a potential donor might be converted, with the advise of tax
and estate planning experts, to a higher-performing asset,
a benefit to both the donor and the recipient charity. An
example of this would be an underperforming asset, such as
a t-bill, which could be invested in a higher yielding yet
secure and dependable financial instrument.
Planned giving and estate planning offer tax
benefits as well. Even with potential changes in federal legislation
regarding so-called "death taxes", planned gifts
to charities will always provide certain financial and personal
advantages. Besides the financial benefit to a person's estate,
the sense of satisfaction which accompanies a gift to a worthy
charity cannot be underestimated.
If you would like further information regarding
this interesting and complicated subject, please contact us
at moreinfo@concept7.org.
We'll put you in touch with Martha Farrington to help you
to better understand the possibilities available to put your
present and future assets to work for the charity of your
choice.
|
