Estate Plans: Fulfilling Dreams Through Generosity

What’s in a word? Not wanting to split hairs, spin the issue, or “feather” my point, I am wary of using the word philanthropy. First, because it’s difficult to say, and second, it doesn’t mean much to most people. I prefer to use the word generosity. Just about everyone knows what it means to be generous or to give.

Winston Churchill was fond of saying, “You make a living by what you do and you make a life by what you give.” I personally have observed this philosophy make a huge difference in people’s lives, both for the giver and for the recipient.

Did you know that our tax system favors estate plans that direct money to charities in addition to traditional bequests to heirs? In fact, including charitable contributions in an estate plan can often reduce or eliminate the tax obligation on the estate, increasing the available dollars for both heirs and charities.

When estate plans go entirely to heirs and do not include charitable contributions, the government takes a sizeable chunk and distributes it to social programs.

Directing a portion of estate funds to charity satisfies the government’s funding intent and benefits programs that are personally important to the donor. Though you should always consult your financial advisor or attorney, please don’t assume that large tax burdens are a necessary way of life.

Many residents of northeast Nebraska already know that the Carson Cancer Center came from a very famous and generous individual who once called Norfolk home. Each day, another patient or family wishes to express their appreciation to a nurse, physician, or caregiver through a donation to our foundation. That generosity is very much appreciated.

The hospital as a whole is the fulfilled dream of thousands of donors, from the technology in the rooms to the artwork on the walls. We are here to fulfill the dreams and wishes of the donor, not to tell about our needs and how donors can satisfy them.

You will hear more about this in the near future. No one expects you to be generous. What we find is that we need to do a better job of allowing and making it possible for you to be generous. Magic happens when dreams are fulfilled and someone shares a treasure.

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