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An investment rooted in generosity

When TPF Trustee Mike Murray and his wife, Mary, had extra funds available, they decided to enable the funds through one of TPF’s legacy options. “Our goal initially seemed a bit complicated,” he says. “Once we decided to establish a Charitable Gift Annuity (CGA), the path to achieving our goal became quite clear.”

The funds have since been invested in the CGA, which gave the couple an eligible tax benefit. TPF also helped them establish a Donor Advised Fund (DAF) in the names of their four children. Upon their deaths, the CGA will move into the DAF established for their children. “They will be able to contribute to their own charitable giving efforts with the use of these funds,” Mike says.

When it comes to designating the distribution of the DAF, the Murrays’ four children will be able to either meet annually to determine the fate of the fund, immediately split it between themselves and instruct TPF on where to send the funds, or choose to let the fund grow and allow the Murrays’ six grandchildren to determine its future designation.

Whichever option the children choose, Mike and Mary get to benefit from TPF with a significant tax reduction for their CGA, quarterly income from the annuity for the rest of their lives, and generous and charitable resources for their children and grandchildren.

Of course, there are also the Presbyterian and non-profit organizations important to their children that will continue to receive donations through the TPF legacy fund.