John Hancock
Legacy Society

Qualified retirement plans are very expensive assets to pass on to our children; they carry a significant income tax liability and can also be eroded by estate taxes. Naming a fund at CFHC as the beneficiary of your retirement plan may reduce or avoid federal estate and income taxes owed and leave less highly taxed assets for your children.

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Your gifts of stocks, bonds, and other property may provide significant tax benefits. If you sell appreciated property, you will pay considerably higher income taxes; however, if that same property is gifted, you may deduct the full value while avoiding the higher tax on the gain.

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The simplest and most common way to leave your legacy is to designate a gift or percent of your estate to set up or give to an existing endowment fund; in some cases, you may receive a substantial reduction in federal gift and estate taxes while supporting a charitable cause. Include a simple statement in your will such as:

“I give [a specific $ sum] or [percentage of my estate] or [number of shares of stock of X Company] to the ________ _____________Fund, a component fund of the Community Foundation of Hancock County, 971 W. US 40, Greenfield, Indiana.” Optional, additional language: “The Community Foundation of Hancock County, Inc. is an Indiana nonprofit corporation exempt from federal income taxes under Internal Revenue Code section 501(c)(3), a public charity and accordingly an appropriate institution within which to establish a charitable fund.

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