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Throughout life, we plan a variety of things
we want to accomplish. For many, one of these goals is to
address the needs of people and organizations that matter
most to us. Estate planning is as an area that each of us
needs to consider if we intend to "finish well." With proper
knowledge and planning, a person can assure an inheritance
to family members and provides continued support to Pleasant
View.
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However, it is not just a
matter of what we want to have happen to our assets
at our death, but also how we can best use our assets
during our lifetime to have the income we need in latter
years.
Throughout Pleasant View's 51 years of providing service to
seniors, many friends have supported our ministry through
prudent estate planning. The Mummau family has given
permission for me to share the story of one couple who
planned wisely for their own needs while generously
supporting the work of Pleasant View.
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Finishing
Well
In the 1980's, Abram and Frances Mummau,
longtime residents of the Manheim
community, placed an application for
independent living at Pleasant View. They
weren't seeking residency at that time,
but they wanted to be sure a plan was in
place when they were ready to move.
With the same attention to detail, Mr.
Mummau contacted a financial advisor to
make arrangements that would assure a set
income for Frances in the event that
something happened to him. He decided to
establish a trust and two gift annuities.
Pleasant View was listed as the
beneficiary of the remaining balances. The
trust and gift annuities provided
immediate tax savings to the Mummau's,
while insuring a set income for Frances
for life.
When Mr. Mummau passed away in 1990,
everything was in place for Frances to
move to an apartment as soon as
construction was completed in 1993. She
quickly began participating in community
life and found pleasure in activities and
interaction with fellow residents and
staff.
A few years into her stay, Frances decided
to do even more to support the growing
work of Pleasant View since she
appreciated the services available to her
on the campus. She visited her lawyer and
added two codicils to her will: one
arranged that the refundable portion of
her apartment entrance fee would be
retained by Pleasant View instead of
returning it to her estate, and the second
named Pleasant View as recipient of a
fixed percentage of her remaining
estate.
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This couple's generosity, "born out of concern and
gratitude," provided funds for the Benevolent Care Endowment
Fund and, after Mrs. Mummau's death, for the Town Square
expansion. Because they planned and took action to assure
that their plan would be carried out, the Mummau's "legacy
giving" makes their story an excellent illustration of
"finishing well" and continuing to have an impact on the
lives of future residents.
You, too, can "finish well." For information on "finishing well" and helping Pleasant
View continue its ministry, talk to your family, attorney,
financial advisor or our Director of Development
at 664-6363.
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