Planned Giving

Planned Giving

Uncommon is the description most used by those of us who have come to know, experience, and enjoy this special place – Glen Lake.

Ensuring its vitality, crystal clear water, exquisite color and pristine quality is a role all of us are called to play. This stewardship manifests itself in the work of your Glen Lake Association, in an extraordinary range of programs and services.

Funding these ongoing initiatives is not only vital, it’s our obligation.

Here’s how you can help…

Bequests

One effective way to further the mission of this award-winning association is through a bequest. This provision in your Last Will and Testament in the form of a gift is accomplished with a transfer from your estate to GLA, a 501(c)(3) organization. Even existing wills can be easily modified to include the Association with the use of a simple codicil.

Bequests can be established to effectively achieve your goals and follow your wishes:

General Bequests allow you to designate a specific amount to the association: “I hereby give, devise, and bequeath to the Glen Lake Association the sum of $______, or___% or (fractional interest) of my estate to the Glen Lake Association of Glen Arbor, Michigan.”

Specific Bequests enable you to designate a specific piece of property to the association: “I donate the sum of $_______or___ % or (property description) to the Glen Lake Association.”

Unrestricted Bequests can be directed to the Glen Lake Association Endowment Fund for long-term financial stability of the organization, administered by the Grand Traverse Regional Community Foundation.

Outright Gifts to GLA

Gifts of cash, securities and real estate are examples of outright gifts. The Glen Lake Association encourages members and supporters to consider these options when doing your estate planning. Cash is the simplest, most direct and popular form of a charitable gift.

Your contribution to the GLA is tax-deductible at the fair market value on the date of the gift. Your donation of stock or other assets such as real estate, royalties, personal property or bonds, could qualify for significant tax savings. Consult your attorney or financial planner to explore the giving opportunities.

When making a gift, you may designate it as a memorial or living tribute to loved ones or friends.

Qualified Retirement Plans

If you own a qualified retirement plan such as an IRA, 401(K), or Keogh plan, and it meets requirements of the Internal Revenue Code, the assets have been growing tax-deferred for years. Once distributions from these qualified plans are dispensed, they can be taxed. When included in your taxable estate, they can be taxed again. The combination of these obligations can reduce the value of the retirement plan assets by a substantial amount.

Retirement plans are among the most highly taxed assets in personal portfolios. It is often advisable to consult a tax professional, attorney or financial planner to maximize the value of your retirement plan. The Glen Lake Association may be able to receive the full value of your retirement plan assets without tax consequences.

Please contact your financial advisor for assistance with planning your gift, which may qualify for federal income tax deductions, as well as capital gains tax and estate tax savings.

If you have further questions or to advise us of your intentions please contact the Glen Lake Association at 231-334-7645 or email GlenLakeDevelopment@gmail.com.

You may use the attached downloadable PDF forms to notify the Association of your gift.

Notification of a Planned Gift Form (downloadable)

IRA Trust Beneficiary Designation Form (downloadable)