Linda and Ernie Mannerino
Their Planned Gift: Charitable Remainder Trust
Le Bonheur Children's Medical Center has a rich history of support from individuals and families from all walks of life. While many support Le Bonheur with one-time or annual outright gifts, some look beyond the present and plan a gift that will benefit generations to come. This is what Memphians Linda and Ernie Mannerino did when they established a charitable trust and named Le Bonheur as a beneficiary. Thanks to their generosity and foresight, future generations of children will receive the best health care available.
"Le Bonheur is the greatest story never told," said Linda. "I knew absolutely nothing about Le Bonheur until I was asked by a friend to participate in a focus group for the hospital." Linda said she learned that other charities in Memphis receive much more publicity. "We felt the work that Le Bonheur does with children was just as important as that done by other charities," she said. "So, what began as a social luncheon for me turned into a life-changing event."
Having been blessed with two healthy daughters, Linda and Ernie felt the need to help families not as fortunate as they have been. After seeing the wide range of work done at Le Bonheur and the need for a new hospital, they wanted to be a part of it.
"My husband and I established a charitable remainder trust and we named Le Bonheur as a beneficiary. Soon after, I toured the hospital as a participant in the Le Bonheur 101 program, which afforded me an "inside" look at the hospital's daily activities. I saw firsthand the wonderful care patients receive and the genuine passion of the staff providing that care. This only validated our decision. We couldn't be more proud to support Le Bonheur."
The Mannerinos chose a charitable remainder trust because this gift option enabled them to provide future support for Le Bonheur while enjoying an immediate income stream and tax deduction for themselves.
"It is a win-win' situation for us," said Linda. "We were surprised at how easy the process is. I would encourage anyone considering a planned gift to work with their legal advisor and the staff of the Le Bonheur Foundation to ensure that the plan is set up correctly."
How a Charitable Remainder Trust Works
With a Charitable Remainder Trust, you can transfer cash, securities, real property, or other assets into the trust. A trustee manages the assets. The trust pays income for life or for a term of years to you and others you name. When the trust terminates, and if you have named Le Bonheur as the sole beneficiary or one of several charitable beneficiaries, the remaining assets in the trust are then transferred to the named charity or charities.
The benefits of a Charitable Remainder Trust are:
• Income for you and/or a loved one
• Avoidance of capital gains tax
• An income tax deduction
Avoidance of capital gains tax on an appreciated asset used to fund trust An immediate income tax deduction.
For additional information about a Charitable Remainder Trust, please contact Le Bonheur Foundation at 901-287-6308 or email@example.com.