The Franklin Miller Garrett Legacy Society and Planned Gifts
Franklin Miller Garrett was widely honored locally and nationally for his commitment to presenting and preserving Atlanta's history. Referred to as a "walking encyclopedia of Atlanta history" by the Atlanta Journal-Constitution, Garrett left a legacy of learning to the city he loved. Formed to honor the late Franklin Miller Garrett, the Franklin Miller Garrett Legacy Society recognizes donors who have included the Atlanta History Center in their estate plans. Benefits of membership in the Legacy Society include:
- Invitations to special programs and presentations
- Donor's name listed in various Atlanta History Center publications (with donor approval)
- A framed certificate acknowledging your gracious gift
- A Franklin Miller Garrett Legacy Society lapel pin
- The Franklin Miller Garrett Legacy Society newsletter
If you would like further information about the Franklin Miller Garrett Legacy Society or to receive a copy of our planned giving newsletter, please contact us at 404.814.4056.
What is a planned gift?
Simply put, a planned gift is a philanthropic gift that is funded either during your lifetime or after your death. The gift is part of a larger estate-planning process in which you decide how certain assets are distributed.
There are many financial instruments available and an estate planner can help you achieve your long-term financial goals, allowing you to take care of loved ones while still supporting organizations such as the Atlanta History Center. Unless otherwise restricted by you as the donor, you planned gift to the Atlanta History Center will support the endowment – meaning your gift will truly benefit the long-term health of the organization for generations to come.
What are the benefits of planned giving?
As a planned giving donor, you will have the satisfaction of helping secure the place history holds in our local community. With historical programming of both local and national importance, the Atlanta History Center reaches hundreds of thousands each year both on campus and through extensive educational outreach efforts in the community. Planned gifts to the endowment provide the foundation on which the Atlanta History Center builds itself year after year.
Beyond the great benefits planned gifts provide this organization, they can provide real benefits to you:
- The tax advantages can be substantial, especially on appreciated securities and properties.
- Planned gifts can remove property from probate, often reducing or eliminating probate expenses.
- Planned gifts can prevent the dissipation of funds. You can provide for the needs of a spouse, dependent child, or other family members.
- An up-to-date will is perhaps the most important tool in creating a planned gift. A proper will ensures that your property is distributed according to your wishes.
Perhaps the simplest form of donating an asset, gifting a life insurance policy can be an inexpensive way to make a planned gift.
Closely Held Stock
With a gift of closely held stock, you create an income tax deduction while eliminating the capital gains tax.
Charitable Lead Trust
- A charitable lead trust can enhance your ability to make larger current gifts to the Atlanta History Center.
- You can preserve assets for your family while making charitable donations.
- You can reduce your taxable income and your estate tax.
Charitable Remainder Trust
- You can use underperforming appreciated assets to create a steady income for the rest of your life.
- You can realize a significant charitable deduction.
- The capital gains tax may be eliminated.
Beyond the benefits highlighted here, a conversation with a financial professional can help you further discover how planned giving can serve your personal financial goals and your charitable wishes at the same time. We hope this information will encourage you to take the time to develop and fine-tune your own estate plans.
The material presented here is not offered as legal or tax advice. Examples of benefits are based on assumptions which may not apply to your own situation at the time of your gift. You are urged to seek the advice of your tax advisor, attorney, and/or financial planner to make certain a contemplated gift fits well into your overall circumstances and planning.