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A Season of Thankfulness

Creating Lasting Impact Through Charitable Gifts

I won’t claim to have family that lived in Dripping Springs since the days when Dr. Pound opened his medical office, but while chauffeuring my daughter around town to visit historical markers for her middle school history project, I learned that Dr. Pound lived in Dripping Springs twice. The first time, he was here to fight in the war against Mexico. He left the state to complete his medical education but returned to the area a second time with his wife to put down roots and make Dripping Springs their home.

Dripping Springs has charmed many a visitor, as it did Dr. Pound and myself, when I visited it for the first time in the 1990s. My husband, Clay, was familiar with the area, passing through it as part of the route from UT to Concan and his grandparents’ home on the Frio River. After graduating from law school and getting jobs downtown, we initially lived in southwest Austin. The next several years would find us driving to Dripping on the weekends, taking in the Hill Country views, perusing real estate listings, and dreaming of moving just west of weird.

Our dreams of moving to Dripping Springs came true at the outset of the pandemic. We moved into our home in March 2020, when everything began to shut down and school was out for spring break. We were thrilled to finally have made it here. There are many things I love about Dripping Springs…the way the kids at school welcomed each of my daughters; the church bell ringing at the First Baptist Church; and the way the community rallies around our students by supporting their activities and athletics. To say that we are thankful to be a part of this community is an understatement.

November is the time of year when we celebrate thankfulness and, like Dr. Pound, giving a gift for others to benefit from after we’re gone has a meaningful impact on the community and creates positive change for those who are left to enjoy it.

We, too, can give thanks by leaving gifts for others to utilize beyond our lifetime in the following ways:

  1. Bequest. You can make an outright charitable bequest of a dollar amount, specific asset, or certain percentage in a Will or Trust.  

  2. Life Insurance or Retirement Account. You can designate a charitable organization as a beneficiary of an account such as these.

  3. Charitable Remainder Trust. You receive the income from the assets during your lifetime and the “remainder” is transferred to the charity upon your death. This can also help to reduce your taxable estate.

  4. Charitable Lead Trust. This type of trust donates income to the charity for a specified term. Once the term is complete, the assets are distributed to the beneficiaries you name.

  5. Donor-Advised Funds. You give to a fund that is managed by a sponsoring organization. The assets you contribute are invested in hopes of growing over time. You may receive an immediate tax deduction using this method.

There are many ways to structure gifts to charities. It’s important to speak to a tax advisor and/or estate planning attorney for more details. 

The Pound family left a legacy benefiting the community and its future residents. Charitable giving is a way we can support causes close to our hearts and give thanks for the many blessings we’ve received.