Many people think of succession planning as something only relevant to businesses or nonprofits. However, it’s equally important when considering the legacy you want to leave through philanthropy—including being intentional about what happens to your Funds at the Wayne County Foundation after you’re gone.
Leave a legacy
A powerful way to amplify your impact is by designating a portion of your estate to charity through your donor-advised fund or designated fund. By naming your fund as a beneficiary of an IRA or other retirement account, you gain significant tax benefits while ensuring your charitable contributions align with your values. Additionally, IRAs left to the Wayne County Foundation are exempt from income taxes that would otherwise apply to your heirs and are excluded from your taxable estate, reducing estate taxes.
Capture your intentions
The Foundation team is happy to work with you to document and formalize your charitable wishes. We’ll help you articulate your priorities and outline how you envision your fund making a difference across generations, whether that means supporting specific organizations, issue areas, urgent community needs, or a combination of priorities. By helping you capture your intentions in writing and then following your wishes, the Wayne County Foundation acts as a steward to safeguard your philanthropic goals and help ensure that the causes you care about continue to receive support for years to come.