Uppermost in Robert E. Simon’s mind when he founded Reston in 1964 was community. An open community where everyone regardless of income, race or religion was welcomed. A place where everyone could live, work, play and remain throughout their lifetime. The importance and dignity of each individual would be a focal point.
More than five decades later, Cornerstones continues to be guided by Bob’s pioneering vision. Our signature approach ensures that families, children, seniors and other neighbors suffering from homelessness, isolation, or living in poverty can access resources that offer stability, empowerment, and hope for healthy and connected lives.
To ensure Bob’s vision for the future, we created the Robert E. Simon Legacy Society, which recognizes donors who include Cornerstones in their estate plans. As a member of the Society, you are providing long-term support for our community, while also accomplishing your financial, estate-planning, and philanthropic goals. Bob’s legacy lives on today. What will your legacy be?
Joining the Robert E. Simon Legacy Society is simple
- Include Cornerstones in your estate plans
- Inform Cornerstones of your intent by submitting your gift intention form via email at legacy@cornerstonesva.org.
Enjoy membership benefits*
- Special recognition
- Invitations to member events
- Personal satisfaction from creating plans to help ensure hope for future generations
*Become a founding member in celebration of Cornerstones’ 50th Anniversary year by joining before the end of 2021.
To discuss a planned gift, please email legacy@cornerstonesva.org
Cornerstones accepts many types of planned gifts. We advise that you consult with your financial advisor or estate attorney when considering a planned gift.
Types of Planned Gifts
Name Cornerstones as a beneficiary through your will or living trust. You will maintain full control of your assets and you can change the bequest at any time.
All life insurance policies allow a policy owner to identify one or more beneficiaries. Ownership of a life insurance policy can also be transferred to Cornerstones.
By naming Cornerstones as a beneficiary of all or a portion of your retirement account, your retirement plan assets are transferred to Cornerstones free of tax, the amount of your estate subject to estate tax is reduced, and your heirs avoid paying income tax on a distribution from your retirement account. Your retirement asset management company can provide you with these beneficiary designation forms, on which you can list beneficiaries to your accounts.
While you are living, especially for people over the age of 70.5, who are required to take minimum distributions from their IRA, there may be advantages to consider a gift through an IRA distribution.
A charitable gift annuity provides fixed payments to you (or others you name) for life in exchange for your gift of cash or securities to Cornerstones.
How it works:
- You make an irrevocable gift of cash or securities to Cornerstones
- In exchange, Cornerstones pays you a fixed amount each year for the remainder of your life.
- When your gift annuity ends, the remaining principal passes to Cornerstones.
A charitable remainder trust can be established during your lifetime or as a bequest under your will or living trust. If the trust is established during your lifetime, the trust provides income to a named beneficiary (usually you or you and your spouse) during your lifetime (or joint lifetimes) and at death the property remaining in the trust goes to a charity. If the charitable trust is established under the terms of your will or living trust, the named income beneficiary (usually a child) receives income for a specified period and at the end of that period, trust property is distributed to charity. A charitable remainder annuity trust pays a fixed income amount based on the initial value of the trust’s assets. A charitable remainder unitrust, on the other hand, pays a fixed income based on the annual value of the trust’s assets and may vary from year to year.
You may donate your home to Cornerstones and receive an immediate income tax charitable deduction, while retaining the right to live in the home for the remainder of your lifetime.
A charitable lead trust is an irrevocable trust designed to provide financial support to one or more charities for a set period of time, with the remaining assets eventually going to family members or other designated beneficiaries. A charitable lead trust can reduce estate taxes on trust assets that pass to family members.
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