We're getting a little older and we find ourselves thinking about the future a lot more than we used to. Not just our future and that of our children, but also the future of TMC Foundation, an organization we’ve believed in and supported for so many years. We want to be sure that it will still be doing its job long after we’re gone. So, a few years ago, we decided it was time to start making definite plans to help ensure our favorite charity’s future as well as that of our family.
I bought a lot of life insurance when our family was young. Wanted to be sure that Bev and our children would be taken care of should anything unexpected happen to me.
Well, I’m still around, thank goodness. Our children are grown and settled, and Bev and I did a little better financially than we ever thought would be possible when we were starting out. Truth is, our family no longer needed all the life insurance coverage I was carrying for them.
We wanted to make a gift to TMC Foundation in addition to our annual support – a commitment that would make a lasting impact on the organization our whole family loves.
But how to do it? We can’t afford to give away large sums while we’re alive, and our children are counting on receiving most of our estate. Our financial advisor came up with the creative solution. He had been looking over the annual statements from Tom’s and my IRAs and retirement plans.
After my wife Karen died, I began to appreciate much more the organizations to which she had been so devoted. TMC Foundation was always her favorite, and I began to look for ways that my giving could keep her commitment alive.