Talking about death is never easy but for Ken and Rita Martin of Sylvania it was a necessity.
“We realized that with two teenagers, something could happen to Ken and me at the same time and we needed to make plans,” says Rita, director of admissions at Ridgewood Manor in Maumee.
“Taking a realistic look at our estate, we wanted our children to experience the rewards of their own hard work and achievements. And, we wanted them to know the commitment to philanthropy and not just receive an inheritance if both of us were gone,” explains Ken, owner of Projects Designed & Built, Inc. in Toledo.
With the guidance of the Foundation, they created the Kenneth J. Martin Family Fund. Their wishes are for the fund to support Catholic schools and churches and local nonprofit endeavors. Children Jack, 19, and Alexandra, 18, will advise this legacy society fund upon the death of their parents.
The Martin’s future donations will be made possible with distributions from their IRAs. “We found that designating IRAs was easy and could benefit the community while offering a tax savings for our estate,” says Ken.
“We know the Foundation will be good stewards of our wishes and will help our children at the right time. Ken’s late father had a saying that you should always look down, not up, because there are lots of people who have less than you,” says Rita.
The Martins have created a legacy to mirror his very generous and wise philosophy for charities that help so many in the community.
Perpetual Support
With a bit of planning, you too can ensure that the charitable causes that have grown important to you and your family continue to be supported long after you’re gone. Using a single fund at the Foundation you can make arrangements for both outright and ongoing, perpetual support to any number of organizations that are near and dear to your heart. And there is no cost to do so!
It’s simple. You work with your attorney and/or other professional advisor to direct in your will, trust or other testamentary documents that a certain dollar amount or percentage of your estate come to the Foundation. A fund will then be created and named by you.
The Foundation will steward this fund to ensure that, forever, your charitable intentions are carried out.
There is no fee to create a fund at the Foundation and your fund documents may be changed any number of times over the years, also with no fee.
Let us help you distribute your charitable estate plans. Contact Bridget Brell Holt, philanthropic services officer, at 419.241.5049.
