Planned Giving
The Knox County Foundation offers several options for financial and legal advisors with clients with charitable estate interests or needs. Many of these options can greatly simplify the process for both you and your clients, offer opportunities to maximize tax benefits, and make a lasting impact on the causes most important to your clients.
Bequests
A bequest is the most common vehicle to make a lasting gift. Any type of fund may be the beneficiary of a designated gift through a will. The Knox County Foundation strongly recommends that you meet with us as you and your clients are planning a bequest to better coordinate your client’s wishes and ensure that their will does not need to be altered even if your client may wish to change the terms of the fund agreement.
To learn more about bequest options at the Knox County Foundation or to discuss details about a bequest, please contact us at 740-392-3270.
Charitable Gift Annuities
With a Charitable Gift Annuity, the Knox County Foundation can provide a fixed distribution of income on an annual basis for the lifetime of the donor. After death, the remainder of the annuity is used as a resource benefiting the charity or charities of the donor’s choice.
Retirement Plan Assets
In many cases, clients who have a solid estate plan can avoid both income and estate taxes with a current gift or bequest from an IRA. A current gift from an IRA can be used to establish a Community Impact Fund which provides unrestricted dollars to meet new and emerging needs through our competitive grant process, a Designated Fund to support a specific charity or charities of your client’s choice, or a Scholarship Fund. A gift of an IRA in your client’s will can be used to create any type of fund, including a Donor Advised Fund which can allow family members to remain involved in the charitable work of their loved one.