As Texas residents know, nothing is more inspiring than when an ordinary person donates their estate money to organizations in need. This was exactly the case for a Whirlpool worker who recently died at the age of 73. This man left behind a large estate; however, he had no heirs.
In sum, this generous person donated his $1 million estate to 22 nonprofits through his will. Some organizations received as much as $48,000.
So, where did this money come from? Sources say that the man had hefty personal savings. He also had retained some inheritance money.
Some organizations never knew of the man; they had no idea why he chose them as beneficiaries. Nevertheless, the selfless act is greatly appreciated by the recipients.
In this particular case, the man did careful research and came up with a list of 22 organizations that were important to him. Children’s charities, health foundations, nature organizations and other causes received some of the money.
One organization, the Ronald McDonald House, intends to use its money to help pay expenses for families who stay at the facility. According to the facility’s executive director, “The impact of this will be tremendous.”
Are you the kind of person who makes plans to do something good for your community? Unfortunately, life can be very busy, and sometimes we don’t have the time to assist those in need. If this is case, you may want to consider formulating your estate plans to include charities or organizations that you believe in. Many organizations scrap by with little funding. If you have always intended to assist specific nonprofits, like this man, you may have the opportunity to do so through a solid estate plan.
Source: Evansville Courier & Press, “Late Whirlpool retiree’s $1 million estate divided among 22 nonprofits,” Susan Orr, April 18, 2012