Couple Establishes Generous Estate Gift to Benefit Circle of Life

Kelly Bright retired the first time in 2002. Today, Kelly and his wife, Susan, are planning for his second retirement and using their financial plans as a way to give back to the community that they love. They have established a charitable remainder trust (CRT) that will provide income to them during retirement and benefit Circle of Life Hospice Foundation and their church after their deaths. And it all started with some appreciated Wal-Mart stock.

"When we started the CRT, we used appreciated Wal-Mart stock," Kelly says. "That way we got to take a tax deduction for the gift of the stock in the year that the trust was established, and we didn't have to pay capital gains tax on a highly appreciated asset."

Their financial advisor helped them establish the trust and decide when they would begin drawing retirement income from it as part of their long-range financial planning. In addition, he helped them purchase a life insurance policy that will benefit their children and replace the value of the original stock gift to the trust.

Kelly and his friend, Kenny Lipsmeyer, established their business, K&K Veterinary Supply, in 1988. Fourteen years later, Kenny purchased Kelly and Susan's half of the business. The couple traveled and enjoyed retirement for several years before Kelly went back to work with Multicraft Contractors.

"He got tired of playing golf every day," jokes Susan.

According to Susan, they chose Circle of Life Hospice Foundation as one of the beneficiaries of the trust because every family they know who has been served by Circle of Life has raved about the care and compassion they received.

Support a Cause That Matters Most to You
You can make a gift to Circle of Life Hospice Foundation to recognize the impact we have on the community. Contact Dee Vaughn, CFRE at 479.872.3359 or dvaughn@nwacircleoflife.org to learn about your options.