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Help us help more families

You can turn $100K into $200K

The stubbornly high unemployment rate in our region is creating an unprecedented demand for basic needs, food and utility assistance. United Way of North Central Massachusetts received a very special $100,000 gift from a generous donor to put to use immediately.  

With your help, the goal is to raise another $100,000, which will allow us to provide food and utility assistance to thousands of additional families in need. 

 

Here is how you can help:

 

Any new or increased individual giving to United Way’s Community Impact Fund will help go toward the $100,000 goal.

Any new or increased corporate giving to United Way’s Community Impact Fund will go toward the $100,000 goal. 

 

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The Retirement Unitrust

Mary Friendly grew up on a farm. When her parents passed away, she inherited the farm.

When Mary was growing up, the farm was out in the country. The city now has grown until the farm is now within the city limits. Several developers would like to build homes on the farmland.

Mary: We have received modest payments from the farm over the years. I have allowed a neighboring farmer to graze his cows on the farm until recently. Since I inherited the farm from my parents several years ago, the value of the farm has greatly increased.

Bill: We checked with our tax advisor and the farm could be sold, but there would be a very large tax to pay. Since it is a good time to sell the land, we would like to sell. And then it would be good to let the sale proceeds grow for about 10 years until we plan to retire. In fact, we are hopeful that we can sell tax-free and then allow the proceeds to grow tax-free.

Mary: I was excited to learn from our tax advisor that there is a plan that does provide for our retirement. She explained that we could give the land into a special trust. With this trust the farm could be sold tax-free and the cash invested for growth. The proceeds can then grow tax-free inside the trust until we retire. At that time, the payouts will be taxable, but we could have as much as $900,000 in the trust.

Bill: We will enjoy a very nice retirement. We already have an IRA and are planning to use that for retirement. Now with the extra income from this retirement trust, we will be able to travel and really enjoy our golden years.
©Leave a lasting legacy, remember the United Way of North Central Massachusetts in your will or estate plan. United Way of North Central Massachusetts 285 John Fitch Highway Suite 1 Fitchburg, MA 01420
Telephone: 978-345-1577/ 211 For Information & Referral Help | Fax: 978-345-7683