Topics of discussion include the importance of drafting a will for all individuals, regardless of level of wealth, the potential consequences from not producing a will, and why this document should include a charitable planned giving component. The impact of even small charitable bequests on local organizations is discussed, as why proper estate planning can allow an individual to take care of loved ones while also making a significant difference for charitable organizations. Also mentioned is the importance of formally designating beneficiaries of 401k plans, retirement plans, insurance plans and other assets.
Guests in part three of this episode of Access Ann Arbor include Joe Ellen Rahaim (Co-Chair of Leave a Legacy Southeast Michigan and President/CEO of the Ann Arbor Area Community Foundation), Douglas Gross Certified Financial Planner for Raymond James Financial Services) and Cheryl Elliott (Co-Chair, Leave a Legacy Southeast Michigan).
LEAVE A LEGACY® Southeast Michigan is a nine-county-wide campaign encouraging people to name non-profit organizations in their wills. The campaign, which is driven by the efforts of volunteers from non-profit groups, and financial, estate planning and law firms, is sponsored by the Planned Giving Roundtable of Southeast Michigan — a group of professionals in legal, financial, and allied fields as well as fundraising professionals whose focus is planned giving.
The campaign resulted from a growing concern for non-profit organizations, who because of increasingly less government funding, are fighting to exist. And the problem worsens because this forces non-profit groups to rely more on public support; however, although 81.5% of people in Southeast Michigan give annually, only 2.8% leave a charitable bequest at death. LEAVE A LEGACY is addressing this problem by educating people about the importance of planned gifts for the charities we depend on and support.
For more information visit http://www.leavealegacysoutheastmichigan.org, call (888)826-7900 or e-mail leavelegacy@airadv.net.
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