VOL. III
VISION
You Can’t Take It With You!
Ford Lacy and Cece Smith Plan Their Community Legacy
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As Cece and Ford started their estate planning process, they came to Communities Foundation of Texas for assistance with their planned giving, and during the process, they decided to open a donoradvised fund to structure their giving now as well.
“ You have to support your charitable interests or the groups doing the work won’t be there.” —Ford Lacy “It’s a fun idea to be able to die with a negative net worth, but that’s hard to plan on,” says Ford Lacy. “Assuming there is something left, we thought working with Communities Foundation
IN THIS
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“You have to support your charitable interests or the groups doing the work won’t be there,” says Ford. “The things we support are the things we are interested in and are involved in—for example, Dallas Symphony Orchestra, Dallas Opera, Dallas Museum of Art and UT Southwestern. We don’t usually give abstract gifts; usually we’ve made
Photo Credit: Teresa Rafidi
of Texas would be a good way to address that issue.”
OU CAN’T TAKE IT WITH YOU! is the first thing Ford Lacy said when we asked what spurred him and his wife, Cece Smith, to plan in advance how they would give to charity through their wills. As an attorney and venture capitalist, they were romanced by the idea of spending down their net worth while living, but practically, that’s pretty difficult to do.
Ford Lacy and Cece Smith worked with Communities Foundation of Texas to start the estate planning process.
For assistance in developing a giving strategy that is consistent with your charitable goals, contact Geri Jacobs, director of charitable gift planning, Communities Foundation of Texas, at 214.750.4255 or gjacobs@cftexas.org.
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• A Heartfelt Way to Give through Your Estate
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• Planning Your Charitable Legacy
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• Five Facts
A Heartfelt Way to Give Through You
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ith more than 60 years of experience and expertise connecting visionary donors with worthy causes, our goal is to make your giving easy. By creating a fund at CFT now or through your estate, you can reach your charitable goals.
Consider Creating a Fund at CFT if You Want to:
1. Continue your annual support to your favorite nonprofit and provide the stability it needs in the future 2. Support a small charity that could benefit from CFT’s financial and investment expertise 3. Direct your contribution to the greatest needs within our region or in another community with thoughtful direction from CFT’s board of trustees 4. Appoint a committee to oversee charitable giving on your behalf 5. Support a general cause area and would like CFT’s input as to which organizations are successful in doing that work 6. Create a scholarship that benefits students in your community or in another part of the country with selection criteria that you feel are most important 7. Support a specific program at a specified charity Your contribution, no matter its size, can make a significant difference, and we would be honored to help you tailor a fund at CFT that will provide the kind of support that you believe is most necessary and meaningful.
Beyond a Bequest
Your financial plans can include a tax-favorable contribution vehicle, such as a charitable gift annuity or a charitable trust, that will provide income to you or your loved ones.
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© The Stelter Company The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.
ur Estate If desired, you may consider a contribution of illiquid assets, including partnership interests, mineral rights or a life insurance policy. We look forward to working alongside your attorney and tax advisor to help tailor a contribution that meets your needs while fulfilling your charitable wishes.
Did you know? Funds at Communities Foundation of Texas provide greater ease and tax-favorable features than a private foundation. Contact Geri Jacobs at 214.750.4255 or at gjacobs@cftexas.org to confidentially discuss how a specific contribution during your lifetime or how your will or trust may be structured to support the organizations that have meant so much to you throughout the years.
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You Can’t Take It With You!
FIVE FACTS
Did you know that Communities Foundation of Texas:
1. Manages more than 900 philanthropic funds with $1 billion in total assets.
2. Runs North Texas Giving Day, an annual day of online giving that has pumped $119 million into the North Texas community since 2009.
3. Distributed $101.6 million in fiscal year 2015 to thousands of nonprofits. 4. Began as the Dallas Community Chest Trust Fund in 1953. Ford Lacy and Cece Smith
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a real investment through participation and volunteering first.”
“Cece and Ford are incredibly intentional in their strategy,” says Susan Swan Smith, chief relationship officer at Communities Foundation of Texas. “They’re sophisticated in their questions and expectations. It’s been an honor to work actively with them now as well as to help them plan their philanthropic legacy.”
5. Has granted more than $1.5 billion to nonprofits since its inception 63 years ago.
Y o u r S impl e Ac t i o n P l a n Return the enclosed survey to get your free brochure, Extend Your Impact with a Charitable Gift through Your Will or Trust. Contact us to discuss gift options that complement your financial and charitable goals. Visit CFTexas.org/giving to learn more about the good work we’re doing and how you can help.
5500 Caruth Haven Lane Dallas, Texas 75225 CFTexas.org
Geri Jacobs, ChFC, CLU, Director of Charitable Gift Planning g jacobs@cftexas.org 214.750.4255 Angela Woodson, Advisor Relations Officer awoodson@cftexas.org 214.750.4145 4
Sarah Beeks Higdon, Donor Relations Officer shigdon@cftexas.org 214.750.4247