From Estate Plan to Endowment: The Kain Story
The Huron County Community Foundation recently received a gift of more than $941,000 from the estate of Merlin and Lois Kain, establishing a permanent scholarship fund for graduating seniors from Owendale-Gagetown High School and Bad Axe Public Schools. For the advisors who help clients plan their estates, the Kains' gift is a clear example of what thoughtful charitable planning can accomplish.
A plan more than a decade in the making
Merlin and Lois, lifelong Huron County residents who farmed in Brookfield Township until their retirement, first met with HCCF in 2012 to discuss their vision for an endowment fund. They then finalized those plans with the foundation and their estate planning attorney. That collaboration let them define exactly who their fund would serve: graduates of two local high schools, with preference for Owendale-Gagetown students, Huron County residents, and students with demonstrated financial need. Their intent was specific. They wanted to help the average student who may not qualify for academic scholarships but wants to continue their education in the trades, an associate degree, or a bachelor's program.
Because the details were settled years in advance, the gift moved from estate to endowment with the Kains' wishes already documented and ready to carry out.
Donor intent, protected permanently
A fund at HCCF is invested as a permanent endowment, and each year a percentage of the fund is spent in accordance with the fund's purpose. We follow donor intent, so the purpose your client sets is the purpose the fund serves, every year, forever. For clients who want their charitable wishes honored long after they're gone, that permanence and accountability matters.
Options for your clients
Every client's charitable vision is different. Some, like the Kains, want to support education. Others want to invest directly in Huron County through funds that support local nonprofits, community programs, and needs no one can predict today. HCCF can help your clients establish a fund that fits their goals, whether through a bequest, a beneficiary designation, or another planned gift. We can work alongside you to document your clients' wishes clearly, so the plan is ready when the time comes.
Let's work together
If a client has expressed an interest in giving back to Huron County, we'd welcome the chance to be a resource for you and for them. Merlin and Lois started their legacy with a single meeting. Your client's could start the same way.
To discuss charitable planning options for your clients, contact Mackenzie Price at mackenzie@huroncounty or 989-269-2850.