Preserving the legacy of the YMCA

winter 2013

IMPACT

Mary “Genette” Brocken was a client of mine from the late ‘80s until her passing in the spring of 2013. Her life’s work was teaching music to the children of United States Armed Forces personnel at various bases in Europe. In middle life she returned to the United States due to developing Multiple Sclerosis, and then moved to Washington state.

While never marrying or having children of her own, Genette always had an interest in the welfare of children, and thus felt it important to leave a legacy for the improvement and care of children. To facilitate those wishes she created Trusts for her estate to benefit the YMCA, The Everett Public Library, and Seattle Children’s Hospital. Just by introducing her to the activities and objectives of the YMCA, I believe that she realized that the Y is a primary influence on the betterment of children’s lives.

Genette came to understand that many of the activities offered by the Y are helping to develop the character, values, and well-being of children in the community. She was able to meet and learn about the Y from YMCA staff and as a result, she included the YMCA as beneficiaries in both her Charitable Remainder Trust and her Revocable Living Trust.

Though Genette has left this world, her legacy continues in the lives of the children impacted by this everlasting gift. Lane L. Corry, CFP

leAvIng A legACy DOnOR PROfIle

WHeRe IT All STARTSAngel Vasquez is committed to helping kids in his neighborhood. “That’s where it all starts. It’s hard to change an adult; but with kids you can change them and lead them which way to go.”

Angel has volunteered with the YMCA’s Code Teen Summer Camp and the Minority Achievers Program (MAP). Both programs provide homework help and positive activities and role models for low income students at Mariner High School and Explorer and Voyager Middle Schools.

Angel stresses the value of an education and staying in school. He says the key is making a connection, especially if a child is shy like he was. “If you talk with them, they start to open up. I didn’t have that back then. I didn’t have the camps. It would have helped a lot if I was in one of those camps, so I like to help other kids.”

geneTTe BROCKen

MAP and Code Teen are made possible through contributions from the Endowment Fund.

Financial Assistance:The YMCA of Snohomish County makes every effort to ensure that no person, especially youth, will be denied access to programs and membership because of financial hardship. The YMCA’s Finan cial Assistance Program is supported by contributions to our annual Invest In Youth campaign and United Way.

Mission Statement:The YMCA of Snohomish County is composed of people of all ages, ethnic backgrounds and religious affiliations united in sharing the values of caring, honesty, respect and responsibility through programs that build strong kids, strong families and strong communities.

Everett Family Branch andAssociation Office2720 Rockefeller Ave.Everett, WA 98201425 258 9211

Marysville Family Branch6420 60th Drive NEMarysville, WA 98270360 653 9622

Mill Creek Family Branch13723 Puget Park DriveEverett, WA 98208425 337 0123

Monroe Family Branch14033 Fryelands Blvd.Monroe, WA 98272360 805 1879

Mukilteo Family Branch10601 47th Place WestMukilteo, WA 98275425 493 9622

Big Brothers Big Sisters2722 Colby Avenue, Ste. 200Everett, WA 98201425 252 2227

Impact is published bi-annually by the YMCA of Snohomish County to provide planned giving information to friends of the Y. Colleen Temple, editor, 425 374 5738 or ctemple@ymca-snoco.org

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A Message from The endowment Committee Chair Dear Heritage Club Friends: It has been an exciting and rewarding year for your YMCA, and specifically our efforts to change lives through gifts to the YMCA Endowment Fund.

As of 9/30/13 our Endowment Fund was valued at $3,148,914. This is an increase of $402,855 or 12.8% since 12/31/2012. By year-end, the Endowment Fund will have distributed $85,000 to fund programs that strengthen the foundation of community through youth development, healthy living, and social responsibility. Contributing significantly to this growth was a very generous gift from the estate of Genette Brocken, contributing a total of $113,777; $50,000 from the estate of long-time YMCA Board Member and Board Emeritus, Tom Unger; and $54,626 from an anonymous donor.

We had several new members join The Heritage Club in 2013. New members include current YMCA Board of Trustees Chair, Leslie Lauer and her husband, Doug; current Mukilteo YMCA Board Chair, Herb Fox and his wife Robin; Trustee Board Member, Brian Evans and his wife Tracie; Marysville YMCA Branch Executive, Mary Bredereck and her husband Joe; Marysville Board Member, Sean King and his wife Rebecca; long-time YMCA Trustee Board Member, Michael Zubovic and his wife Mary; Mukilteo YMCA Branch Executive, Martin Cross; Mukilteo Board Member, Ali Williams and her husband Ric; Mukilteo Board Member, Harold Muschett and his wife Julie; and a couple that wish remain anonymous. We are expecting to add a few new members by year-end. I would like to welcome and congratulate our new members. You are joining a passionate group of like-minded donors motivated to leave a legacy of caring for our neighbors.

As we close in on the holiday season I would like to ask for your help. Please consider serving as a YMCA advocate by sharing the Y story with friends and colleagues and inviting them to join the Heritage Club. It is your story that will inspire others to leave a legacy.

I am proud to serve as the chair of the Endowment Committee and would like to congratulate each of you for your commitment to changing lives.

Jeff DunleavyChair, Endowment Committee YMCA of Snohomish County

Jeff Dunleavy

PlAn gIve IMPACTReSOURCeS AT yOUR fIngeRTIPSThe YMCA Planned Giving website is a useful tool for Heritage Club members, Y members, donors, volunteers, and professional advisors.

The website features:

• A comprehensive library of articles covering ways and what to give, together with estate planning basics. The site contains fresh content every month.

• An array of interactive tools including Stelter’s research-based Plan-by-Life-Stage Library, Build Your Gift, Compare Gifts, Quiz Yourself, Gift Calculator complete with automated responses, and free eBrochures.

• A special section for professional advisors containing comprehensive technical articles.

Visit the site today at ymca-snoco.org/plannedgiving

As your parents grow older, it becomes even more vital for them to have their estate plans in order. Although it may be uncomfortable to initiate the topic, it’s a good idea to sit down and talk with them about their end-of-life wishes, and to help them organize and record those wishes.

THESE TIPS WILL HELP YOU HAVE A SMOOTH DISCUSSION

• Ease into the conversation by talking about your own experiences with estate planning.

• Begin with basic, easy-to-answer questions before moving on to more sensitive issues.

• Remain non-judgmental.

• Don’t be afraid to laugh and reminisce.

• Take a break. Plan more than one session to avoid an exhausting, stressful discussion.

FIND OUT WHAT YOU NEED TO KNOW

Use these ten questions as a guide to navigate through this sticky subject.

1. Do you have an up-to-date will? By starting with this question, you can then let them know you would like to talk about plans they have made for the future.

2. Is there anything I can do to help get your other important documents in order? This question provides an opening to talk about banking and credit card information, trust documents, insurance policies, and other important records.

3. Have you told someone where these documents are located? Assure them that they don’t have to tell you what is in those documents but that it’s a good idea to make sure someone, like an attorney or friend, knows where they are and how to access them.

4. Have you had a chance to take an inventory of your major items of property, including furniture, jewelry, art and other collectibles? If the answer is no, suggest they create an inventory list on the computer or make a videotape inventory.

5. Have you thought about the advantages of making a charitable gift through your estate? It allows you to keep your assets during your life, in case you need them, while you help nonprofit organizations such as YMCA of Snohomish County after your lifetime.

6. Would you like to share the names of your key advisors, attorneys, financial consultants, accountants and insurance specialists? Find out if their advisors have counseled them about the best ways to protect their assets. Offer to help them find trusted advisors if they do not have any.

7. Would you like to share information about your final wishes or funeral arrangements? Being aware of this information now will make the time when they pass away less stressful.

8. Have you named a trusted person to make health and financial decisions for you if you are no longer able to make those decisions yourself? If you are the person they’d like to make decisions on their behalf, ask for details on how they would like those decisions carried out.

9. What are your feelings on long-term care? Find out if they are interested and, if so, what type they have in mind (e.g., home care, senior housing, etc.).

10. Is there anything else you’d like to discuss? This is always a good wrap-up question. It gives your parents the opportunity to talk about other matters or concerns.

These questions will not only ensure that your parents have their estate plans in order, but they should also encourage you to put your own plans in place.

Ten IMPORTAnT qUeSTIOnSTO ASK yOUR PARenTS

yMCA Of SnOHOMISH COUnTy enDOWMenT COMMITTee MeMBeRS Brenda Baltrusch Jeff DunleavyBrian EvansHerb Fox Dan LeachJason LucasDick LyonsMatt MartinDawn OllarDon WhitfieldLoren Van Loo

NONPROFIT ORG.U.S. POSTAGE

PAID EVERETT, WA

PERMIT NO. 134

YMCA OF SNOHOMISH COUNTY2720 Rockefeller Ave.P. O. Box 419Everett, WA 98206-9923

PROfeSSIOnAl SeRvICeS ARTICle The American Taxpayer Relief Act (ATRA) Charitable giving allows us to support organizations whose missions we value, while addressing overall wealth management goals including reduction of both income and potential transfer (estate and gift) taxes.

The American Taxpayer Relief Act (ATRA) extended favorable rates for many taxpayers; however, rates have increased for taxpayers with income above specific thresholds. With higher income tax rates applying this year, deductions could become more valuable. As you discuss year-end planning with your tax advisor, consider the following:

• Make a charitable distribution from a qualified plan. Congress extended the rule allowing qualified charitable distributions for 2013. Individuals over 70½ can contribute up to $100,000 directly from a traditional or inherited IRA to a qualified charity without federal tax consequences. Distributions must be payable directly to the charity from the IRA custodian.

• Appreciated property also makes an excellent gift because the charity pays no capital gains on the sale of the property. The donor may receive an income tax deduction and may also avoid the investment income that could be subjected to the Medicare surtax of individuals in a high tax bracket.

While minimizing taxes is a priority for many; the simple act of giving can provide many non-financial rewards. Consider creating your legacy through charitable giving.

Brenda Baltrusch YMCA VolunteerSr. Vice President, Trust and Fiduciary Specialist Wells Fargo Private Bank