You can make a difference in the lives that follow. This simple phrase is a major theme of LEAVE A LEGACY©, a national emphasis to promote the idea of leaving something to charity as part of your estate plan. Kansas City was one of the first communities to join in this national effort through LEAVE A LEGACY© Kansas City, a program of the Mid America Planned Giving Council, utilizing a concept promoted by the National Committee on Planned Giving. The total number of communities who have adopted similar programs is now over 150 throughout the US and Canada.
The focus of LEAVE A LEGACY© Kansas City is to educate the people of our community about the need and opportunities for each of us to remember charity when we are planning for the disposition of our assets at death—to leave a charitable legacy for the future. LEAVE A LEGACY© Kansas City does not promote any specific charity or cause, but is designed simply to encourage individuals to help make a difference in the community by supporting their favorite charities—whatever they may be—through a bequest or other planned gift.
The eventual success of LEAVE A LEGACY© Kansas City (and the other LEAVE A LEGACY© programs throughout the continent) will only be possible with the support and assistance of the entire community. The true success of the program will be when every person has carefully considered and discussed the extent and manner in which it would be appropriate for his or her plans to include some kind of bequest to one or more charities. In this manner, everyone can realize the satisfaction of knowing that the causes that mean the most to them while living will continue to receive their support after death. These things do not happen on their own. In order for charitable giving to continue after a person's death, there must be planning that directs how this will be done. Through increased education and communi-cation, LEAVE A LEGACY© Kansas City simply encourages people to talk with their own advisors or favorite charities, and consider the many ways that are available to support the charitable activities important to them.
The LEAVE A LEGACY© idea is not limited to the wealthiest individuals in the community. The concept is an important one for everyone, regardless of economic situation or background. We all have some reason to plan for the future distribution of assets, and LEAVE A LEGACY© Kansas City encourages people to take a close look at their own situation and consider including appropriate bequests to charities that have made an impact in their lives. Even the smallest of charitable gifts can make a positive difference in the community.
There are many methods you can use to provide for charity through a planned gift. The most direct method is to include a bequest in your Will or revocable Trust Agreement. For many people, a more tax-effective approach might be to include charity as a beneficiary of part or all of your IRA or other retirement account at your death. The amount can be paid directly to the charity at your death and avoid the income and estate taxes that would otherwise apply to such amounts.
For more information about LEAVE A LEGACY© Kansas City or to volunteer to help, please visit the Web site at www.leavealegacykc.com, where you can also learn more about charitable planned giving alternatives. Or, if you prefer, you can contact one of the current Co-Chairs: Scott Blakesley at 816.983.8138 or Jim Cole at 816.751.4220.
The law firm of Blackwell Sanders Peper Martin LLP has been one of the many supporters of LEAVE A LEGACY© Kansas City since the program was started over five years ago, and is proud to sponsor LEAVE A LEGACY© Kansas City in this issue of Ingram's.