The Power of a Plan
By Trenny Garret, senior vice president, Central Trust Company, and Lake Regional Development Council Planned Giving Chair
As part of my job as a trust officer for Central Trust Company, I work with many people who have created trusts during their lifetimes as part of their estate plans. In 2019, I had the honor of settling the trust estate of a woman who had passed away. For the purposes of this article, I will refer to her as Sally.
Sally was a widow and didn’t have any children. To my knowledge, she made small charitable contributions during her lifetime, and I’m sure the charities she supported appreciated her generosity very much. Upon her death, she made a final act of giving that has had a tremendous impact on several non-profit organizations she supported, including Lake Regional Health System.
Sally had created an estate plan that included several planned gifts. The primary part of her estate plan was her revocable living trust. In her trust, she stated that upon her death, Lake Regional Health System was to receive a certain percentage of the assets of the trust. After everything was settled, Lake Regional received a gift of more than $250,000! There was no way Sally could have made this size of gift during her lifetime. But because she took the time to make a plan, she has made an incredible difference!
The planned gift that Sally made was an unrestricted gift to Lake Regional. This means that the Lake Regional Board of Directors can assess where the greatest needs lie and use the funds to address those needs. Sally’s gift is being used to benefit Lake Regional’s Commitment to Caring initiative. Through the initiative, Lake Regional is seeking to transform health care delivery for two vitally important services: heart care and cancer treatment services.
Although I’m sure Sally knew her planned gift would help Lake Regional, I wonder if she realized her legacy would touch the lives of future generations of patients and caregivers.
If you would like to support Lake Regional through the power of a planned gift, contact Trish Creach in Lake Regional’s Fund Development office at 573.348.8376 or firstname.lastname@example.org. Several options for planned giving exist, and you also can choose to designate how you want your planned gift to be used.
If you have already created a planned gift that includes Lake Regional, we’d love to hear from you and welcome you as a member of Anchor Ambassadors. Membership in Anchor Ambassadors is open to anyone, regardless of gift size, who has created a personal legacy gift in support of Lake Regional.