William Marks was a man who is still making a difference in his community long after his death.
Bill Marks was born William C. Marks.
He built great wealth for himself in his lifetime.
He shared this wealth with others during his lifetime and even after his death, according to The Lebanon (TN) Democrat article titled “Marks’ estate endows $1 million to four community groups.”
Bill worked hard.
He cared about his community and his family.
So he took action.
In 1997, he began the creation of his estate plan.
How did he design it?
Bill created a trust to benefit his own family for 20 years.
Now that the 20 years has passed, the trust has been divided between four charitable organizations with unrestricted gifts to benefit his community.
What were these organizations?
- Friendship Christian School
- Lebanon-Wilson County Library
- Cumberland University
- College Hills Church of Christ
Bill set up trustees to follow his wishes.
How much was distributed?
You may not be leaving $1 million, but you can certainly leave assets to your own beloved charities, as well as your own family.
It just takes proper planning.
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: Lebanon (TN) Democrat (May 6, 2017) “Marks’ estate endows $1 million to four community groups”