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Endowments Can Help You Leave a Legacy

Do you want to leave a financial legacy? Endowments and charitable giving can help to keep your memory alive with thoughtful estate planning.  Nancy Whitaker made a career as a speech pathologist in various Marion County (Ohio) schools. She was born in Florida and married “Bud” Whitaker in 1976. He passed in 2003. Enjoying history, Nancy was a member of the Daughters of the American Revolution and the Marion Historical Society, making many friends in those organizations. She was 77 when she died in late 2021, reports The Marion Star’s recent article entitled “Nancy Whitaker left a legacy to budding speech pathologists.”

Nancy's Legacy

While Nancy had many friends and a loveable personality, she kept her personal life private. It was a surprise to learn that she left her entire estate, modest as it was, to Marion Community Foundation to create a scholarship for students pursuing an education in the field of speech and hearing. Beginning in 2024, a worthy student will receive about $5,000 to further his or her education as a speech pathologist, thanks to Nancy Whitaker.

An institution is usually aware in advance that an individual intends to make a planned gift from his or her estate to the foundation to create an endowment fund. In those situations, the donor and the donor’s attorney contact the school to discuss the donor’s intentions and how to make those intentions a reality.

Endowment and Estate Planning

If you are considering including a charity in your planned giving, please contact them early to make certain your plan is well-coordinated to achieve your philanthropic goals. If privacy and confidentiality are of concern to you, charities will keep your plan in confidence.

By creating a permanent endowment, as Nancy Whitaker did through her estate planning, she left a legacy to budding speech pathologists who will follow in her career footsteps and help our community get closer to that vision every day. Book a call with Vick Law, P.C. today to see how charitable giving and endowment may benefit your estate plan.

Reference: Marion Star (March 18, 2023) “Nancy Whitaker left a legacy to budding speech pathologists”

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