Monday, August 22, 2011

$20 Million Bequest to Aid La Crosse Wisconsin Community

According to this report, a $20 million foundation has been created in the name of Robert and Eleanor Franke. Having built a fortune with a career in railroad industry, Franke wanted to give back. While I love hearing about such generous giving, I hope amounts like $20 million don't discourage middle class folks from being charitable. Every penny can make the difference in the world of a non-profit. Ways to make a difference include naming a non-profit:
  • in your will as a primary or contingent beneficiary in your will;
  • on your life insurance as a primary or secondary beneficiary;
  • as a primary or secondary beneficiary on your retirement accounts;
  • creating a charitable trust; or
  • leaving the charity a specific item to auction or sell (vehicle, collection, home, etc.).
As always, seek legal counsel prior to making or changing your estate plan.

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