| In
50 years, $8.7 billion is expected to pass from one generation
to the next in Northern Ottawa County, including our Affiliate
areas of Coopersville and Allendale. In just 10 years, $1.03
billion will have transferred.
National
research projects a $53 trillion transfer of wealth across
the United States. But while the average transfer nationwide
will peak after 50 years, wealth transfer in many Michigan
counties will crest in twenty to thirty years. In Northern
Ottawa County, the greatest wealth transfer will likely happen
between 2030 and 2035.
Much of
this wealth is currently invested in family homes and farms,
retirement accounts and other appreciated assets-some of which
may be heavily taxed if given to heirs.
A one-time
opportunity to create permanent benefits for Northern Ottawa
County
If only
5% of local wealth was earmarked for charitable endowment,
the resulting $51 million fund would generate millions every
year for community projects and priorities in Northern Ottawa
County--forever.
The Foundation
invites you to invest in Northern Ottawa County by building
the Greatest Needs Fund-an endowment dedicated to improving
the quality of life in the Tri-Cities.
Or, you
can start your own Fund. We can help you establish a Fund
in your family name, in the name of a loved one, or the name
of a cause that's important to you. Endowed Funds last forever
and grow over time because the principal is never spent. Earnings
are used to make grants in the name of your Fund-creating
a legacy of giving in the Tri-Cities. Learn
more about endowment.
Ways
to give
If you
are retired, a planned gift from your estate may be more attractive
to you and your family than a large gift today. You can leave
a permanent
legacy of giving, be a source of pride to your family
and join others like you-building a stronger community.
Three
easy ways to make a planned gift to a Fund in the Community
Foundation
- Designate
the Community Foundation as the beneficiary of your IRA,
401(k) or other retirement account. These assets can
lose up to 70% of their value when passed to heirs; changing
the beneficiary designation does not involve modifying your
estate plan.
- Designate
the Community Foundation as the beneficiary of a life
insurance policy.
There is no need to modify your estate plan.
- Ask
your attorney to add the Community Foundation to your estate
plan.
Talk to
us and your professional advisor to learn about all of your
giving options and choose the one that's right for you.
For more information, call 616-842-6378 and ask for Ann Tabor,
President,
Grand Haven Area Community Foundation.
|
Click
here to download the comprehensive statewide research report.
To learn
more about how these findings were reached, click
here for the
Methodology Report.
Get new statistics on Michigan's County by County transfer
of wealth by clicking here.
Click
to view Current Net Worth Map for 2005
Click to view 10 year
TOW for 2005-2015
Click to view 5% Capture
of the 10 year TOW
Click
to view 50 yeat TOW for 2005-2055
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