Donald Hufford is described as someone who could think through any situation and come up with a solution. His creative thought process led him to become a successful business owner and entrepreneur whose humble beginnings served as a reminder that hard work and the right break can change a life.
Don and his brother, Walt, formed Hufford Industries in Charlevoix in 1968. From there, Don’s automotive and engineering based career took off as he created tools that made the manufacturing process more efficient. He shared his success with others and with the northern Michigan community, making quiet gifts throughout the region and providing a break for those he believed in and for those who needed a hand up when times were hard.
Thoughtful planning and a generous spirit allowed Don to share his success with his family and with his community throughout his lifetime and after his sudden death in June, 2000. Working with a local attorney and CPA, Don had created Charitable Remainder Trusts that would provide annual income to his siblings and children throughout their lifetimes. After, the remainder of each of the trusts would be distributed to local charities including McLaren Northern Michigan Foundation.
Donald Hufford’s generous spirit lives on, 18 years later, with gifts that continue to support the health of the community. In 2017, McLaren Northern Michigan Foundation received a substantial distribution from one of the trusts. The gift was added to the unrestricted fund and allowed for the purchase of minor medical equipment throughout various hospital units to support patient care.
Establishing a Charitable Remainder Trust can provide immediate tax benefits and provide income for you and/or a family member.
How it works:
1. You transfer cash, securities or other appreciated property into a trust.
2. The trust pays income to you and/or other beneficiaries that you name, for life or for a term of years (maximum of 20).
3. When the trust terminates, the balance is used by McLaren Northern Michigan Foundation to serve our patients and our communities.
The next step:
We can provide you with an illustration on how a Charitable Remainder Trust might help you meet your financial and charitable goals. For more information, contact Jennifer Yelovina, Planned Giving Officer at 231-487-5020 or at jennifer.yelovina@mclaren.org he thanks we need.
Family members give back in many ways. Some volunteer, some make donations, and some include a gift in a will or estate plan to help future patients and family members. This last option doesn’t affect today’s assets and accomplishes the goals of recognizing compassionate care and giving back.
Contributions to McLaren Home Care and Hospice, a 501c3 non-profit corporation, are tax-deductible as allowable by law. For more information about contributing today, or about including a gift in your will or estate plan, please call McLaren Northern Michigan Foundation at 231-487-3500.