Create a Philanthropic Legacy in Your Estate Plans

A Donor Story: Keith and Sherry Mutchler

Keith grew up in Rapid City South Dakota and graduated from South Dakota School of Mines and Technology. Sherry is from Detroit Michigan and is a Michigan State University graduate. Work brought them to Green Bay where Keith worked as an engineer at Proctor and Gamble and Sherry taught English at Lombardi Junior High. They began coming to Door County in the 70s.  In 1985 Keith took a job as a Division Manager in papermaking in Menasha and Sherry as a school counselor in Appleton. After retiring in 2006, they moved to Door County in 2007 and are proud to have built their own timber frame home.

The Mutchlers have four children. Daughters Megan, Kate, and Bronwyn have all earned their Master’s degrees. Son, Ian, passed away at the age of 3. Keith and Sherry have five grandchildren. Both love to travel and visit family and explore new places; but, always love returning to Door County.

Giving back has long been a part of the Mutchler’s lives, serving on numerous Boards of Directors. Paying it forward with their time, talents, and treasures, Keith and Sherry wanted to ensure that this expression of gratitude lived on long past their lives. The Door County Community Foundation provided a practical opportunity for the Mutchlers to transfer assets to charity and leave a legacy for Door County in their estate plans.

Through a gift in your estate plans, you can give back to specific charities, support general causes or even create a scholarship in your family’s name.  A Fund at the Community Foundation is an exceptional tool for giving to charity through your estate plan.

You can give cash, appreciated stocks, or other assets.  Some of the most tax-efficient asset types to give through your will come from retirement plan accounts, since heirs would be taxed on the income in respect of the decedent (IRD). You can choose to give a stated dollar amount, a specific property, a percentage of your estate, the remainder after distributions to other beneficiaries, or you can make your gift contingent on certain events.

Further, while we may be the Door County Community Foundation, our family of donors have favorite charities across the nation.  As a result, we make distributions to charities in every state in the union.

“Both of us started giving when we were in our first jobs, 52 years ago, and we’ve given every year since. We were active in the Green Bay and Fox Cities and volunteered in a variety of charities. When we retired to Door County, we felt fortunate to live in such a vibrant community and wanted to pay it forward. Helping women and families is a priority for us. Through our estate plans at the Community Foundation, we are able to continue to give back to the community we love long after we’re gone.”

– Keith and Sherry Mutchler

Including the Door County Community Foundation in your estate plans is an easy way to transfer assets to charity.

In doing so you leave a legacy for Door County, while enjoying the assets you need to maintain your current lifestyle. Plus, you are able to distribute some or all of your assets, tax free.

You can give cash, appreciated stocks, or other assets. Some of the most tax-efficient asset types to give through your will come from retirement plan accounts, since heirs would be taxed on the income in respect of the decedent (IRD). You can choose to give a stated dollar amount, a specific property, a percentage of your estate, the remainder after distributions to other beneficiaries, or you can make your gift contingent on certain events.

Using the Community Foundation as an estate planning tool is easy.

• You determine the type of Fund you would like to establish with your gift – be it a Donor Advised Fund (to be advised by your client’s heirs), a Scholarship Fund, a Non-Profit Endowment, or a Community Impact Fund. Your gift can also be split between several different kinds of Fund.
• You include your Fund at the Door County Community Foundation in your will as a bequest. Or you can name your Fund as a beneficiary of your trust, retirement account, or other investment.
• Upon your death, we set up a special fund in your name, in the name of your family, or in honor of any person or organization you choose.
• Your charitable gift is excluded from your assets for estate tax purposes.
• We handle all the administrative details and distribute the assets to charity per your instructions – or by working with your heirs.
• Your gift can be placed into an endowment that is invested over time. Earnings from your Fund are used to make grants addressing community needs. Your gift – and all future earnings from your gift – can become a permanent source of community capital, giving back literally forever.

And while we may be the Door County Community Foundation, but our family of donors have favorite charities across the nation. As a result, we make distributions to charities in virtually every state in the union.

Talk with your estate planning attorney or contact the Door County Community Foundation. The Community Foundation is regularly asked to attend joint meetings with attorneys, accountants and investment professionals all of whom are serving the same client. We’d be honored to serve you as your philanthropic advisor.