Acton United Methodist Church
One of the ways Hank and Kitty celebrated 65 years of wedded bliss was deciding to "scale down" and move to a retirement complex. They wanted to continue to enjoy golf, bridge and entertaining friends. But they also needed relief from the chores of housekeeping and maintaining their property.
Hank was also concerned about someone to manage their affairs if they became ill or unable to manage for themselves. They did not have children or close relatives to act for them, so they turned to the Foundation for assistance.
After careful examination of their resources and their concerns, a personalized plan was made for them. Their plan assured they wouldn't outlive their resources and that their personal needs would always be taken care of. Their plan also met their desire to leave a legacy to support the ministries of their church and to give beyond their church.
They exchanged their home for a Charitable Gift Annuity and enjoyed guaranteed, fixed payments for life. Hank and Kitty named their church as the final beneficiary of their annuity and earned an immediate tax deduction for their generosity. The additional income made the retirement complex more affordable and left their other resources to enjoy.
They also opted for a Revocable Living Trust so the CTMF could manage their finances if they were incapacitated by illness. There was great comfort knowing the Foundation was standing by in case of need, but until then there were no ongoing fees or administration costs for the Trust.
Their Trust provided that their resources would be used only for Hank and Kitty during their lifetimes. After their lifetimes, a portion of their Trust assets provided a generous bequest to their church and the remainder established a permanent endowment in their name.
The Hank and Kitty Holmes Endowment Fund is a living legacy of their love and faith that will endure forever. The principal of the Fund is invested at the Central Texas Methodist Foundation. The annual income from Hank and Kitty's fund will be used for grants to United Methodist causes in Central Texas.
Copyright 2003 | Central Texas Methodist Foundation | www.ctmf.org
