Red Cross Recognizes Professional Advisors with Prestigious Award


The American Red Cross South Florida Region yesterday recognized the work of 100 professional advisors by naming them 2012 Legacy Fellows during a ceremony hosted by the Sabadell United Bank in Miami, Fl.

American Red Cross Legacy Fellows are advisors whose professional expertise helps clients achieve their financial and philanthropic goals by including the American Red Cross in their personal estate plans.

“Many people would like to contribute to the long-term viability of the American Red Cross with a donation but feel they cannot afford to make such a gift today,” said Gloria Kaplan, Senior Gift Planning Officer, American Red Cross South Florida Region. “For them, a planned gift is a great option.”

A simple definition of a planned gift is a gift where professional assistance is required, explained Kaplan.

“Examples of this are wills and trusts that are drafted by attorneys or stock transfers that a financial advisor helps the donor complete,” she said. “Most often, that professional is the individual’s attorney, accountant or financial advisor.”

The advantage of a bequest by will or revocable trust is that it can be tailored to complement a person’s lifestyle and financial goals while at the same time supporting the Red Cross, said Kaplan.

The purpose of last evening’s recognition was to thank this select group of professional advisors for helping their clients achieve precisely that.

“These professionals have an important role in helping the American Red Cross raise funding each year so that the organization can continue its lifesaving work,” said Kaplan. “We want to be a charity of choice for donors in their estate planning.”

The advisors who were recognized in person at last night's event (in picture above from left to right) were: Dwight Hill, Angela Carrillo, Andrea Stone in representation of Bruce Stone, Bob King, Bruce Charles King, Jr., Alfred Katzin, Gloria Kaplan (Sr. Gift Planning Officer at the American Red Cross South Florida Region), Ed Joyce, Jacob Safdeye, Melody Hendrick, Penn Chabrow and Samuel Spencer Blum.

For more information on planned giving, please read below.

Advantages of making a bequest:

  • It is not payable until death, so it does not affect your assets or cash flow during your lifetime.
  • It is private – your will is not filed or made public until your death, and
  • It is revocable – you can change the provisions in your will or trust at any time until death.
  • Frequently Asked Questions:

    How will your gift be used? You may opt to designate a particular program at the Red Crossas beneficiary of your gift, or you may leave your gift to be used at the discretion of our Board of Directors. (By leaving your gift unrestricted, you leave open many doors of opportunity. Of course, the choice is entirely yours.)

    What form should your gift take? You may choose to designate that we receive a specific sum from your estate (for example $5,000), or you may choose to leave a percentage of your estate (for example 5%).

    What asset should you use? You can give almost any kind of asset through a bequest, including cash, securities, an interest in real estate (such as a residence), tangible personal property (such as works of art or antiques) or the remainder of your IRA, Keogh, tax-sheltered annuity, qualified pension or profit-sharing plan.

    What priority will the gift have? You can decide whether we will benefit outright through your will or only after other conditions are met, such as the distribution of bequests to heirs and other loved ones.

    Will your gift be permanent? You even have the option of “endowing” your gift to provide a lasting financial resource. Because we never spend the principal of an endowed gift, there is always income to support our programs and projects.

    Will my gift be deductible? A charitable bequest or trust distribution is deductible for federal estate tax purposes, and there is no limit on the deduction your estate can claim. In addition, the gift is usually exempt from state inheritance taxes.

    What if I've already written my will or trust? You can amend a will or trust to make a gift without rewriting the entire document. Your attorney can prepare the simple statement, called a codicil, that adds a new bequest to us while reaffirming the other terms of your will. Similarly, he or she can prepare an amendment to your revocable trust to add us as a beneficiary.

    What's the difference between a will and a trust?

    A will is your instruction manual to your survivors about how you want your property distributed. It's a revocable, private document that only takes effect after your death.

    A revocable trust (sometimes called a living trust) is a legal entity that holds assets during your lifetime, then transfers ownership of them — or benefit from them — upon your death. Unlike a will, a trust must take title to assets before it can pass them to your survivors.

    There is no difference between wills and revocable trusts in how transfers from them are taxed. In some states, however, the probate and distribution process is simpler with a revocable trust. Your advisors can guide you in choosing which vehicle will work better for you.

    For more information please email Gloria Kaplan, MBA, Sr. Gift Planning Officer South Florida Region at Gloria.Kaplan@redcross.org or call her at 1-800 – 759-2050.

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    About the American Red Cross:

    The American Red Cross shelters, feeds and provides emotional support to victims of disasters; supplies more than 40 percent of the nation's blood; teaches skills that save lives; provides international humanitarian aid; and supports military members and their families. The Red Cross is a not-for-profit organization that depends on volunteers and the generosity of the American public to perform its mission.