5 Ways to Leave a Lasting Legacy through your Estate Plan
Pat loved the Tigers, her family, and her friends and neighbors at United Methodist Retirement Communities (UMRC). Thanks to a gift in her will to the UMRC Foundation Benevolent Care Fund, Pat’s loving legacy continues to provide care for our residents who outlive their savings.
August is National Make-A-Will Month. What better time to think about your own legacy!
Here are 5 Ways to Leave a Lasting Legacy in your Estate Plan:
- Include a gift to your favorite charity, such as the UMRC Foundation, in your will.
- Consider leaving a percentage of your estate to charity, rather than a specific dollar amount; in doing so, you can be certain that, regardless of the size of your estate, your family, friends, and desired charity will receive proportionate shares reflecting your wishes.
- Name your favorite charity as a beneficiary of your retirement plan or life insurance policy.
- Benefit a charity through various types of trusts.
- Consult with a financial advisor or attorney to learn how your estate gift to charity may also help reduce or eliminate the estate tax burden on your heirs.
Those who have notified the UMRC Foundation about their own estate or planned gift to the Foundation are honored as members of the Wesley Legacy Society. More importantly, by letting us know, these generous individuals can have a say now in how they would like their gift to be used, whether for our Benevolent Care Fund for residents who outlive their resources, capital projects, programming, etc.
Your legacy is your passion, whether it’s animals or your alma mater, kids or older adults. Including your favorite cause in your estate plan costs you nothing today, while allowing you to take care of your family and to leave a lasting legacy for the future.
Author Joan Moran says, “Leaving a legacy is an important part of your life’s work. A legacy develops from a life dedicated to self-reflection and purpose. What will be revealed and what will endure is a truthful and value driven body of living.”
For more information about including UMRC Foundation in your will, making a planned gift, or becoming a member of the Wesley Legacy Society, contact Shane Williamson at the UMRC Foundation office at 734-433-1000 ext. 7397.