Life Insurance Gift Creates a Lasting Legacy for Scott County
Howard H. Baker, Jr., served his country as a United States Senator, White House Chief of Staff, and U.S. Ambassador to Japan. Despite a career that took him around the world and to the highest levels of government, Baker never lost his connection to home. A native of Scott County, he often said, “Huntsville is the center of the universe.”
That sentiment helped inspire a lasting tribute. As a benefit of Baker’s Board service, Waste Connections purchased a life insurance policy on his life—allowing Baker to name the East Tennessee Foundation as beneficiary on the policy. This created an opportunity to transform the proceeds into something meaningful and enduring for his beloved Scott County.
At Waste Connections’ request, ETF reached out to Senator Baker’s longtime friend and former law partner, Don Stansberry, Jr., to discuss how the gift might best reflect Baker’s connection to his home community. ETF proposed using the policy proceeds to establish a community fund dedicated to improving the lives of people in Scott County for generations to come. Don wholeheartedly agreed that this use would honor Senator Baker and his love for his home community.
Today the Scott County Community Fund is ETF’s 19th community fund in our 25-county region. As an endowed fund, it will provide a permanent source of charitable support for the people and organizations serving Scott County.
The story also illustrates a powerful planned giving opportunity. A life insurance policy and a simple beneficiary designation can become much more than a financial asset. It can create a permanent charitable resource, connect a legacy to a place or cause that matters, and continue making a difference long into the future.
© Pentera, Inc. Planned giving content. All rights reserved.
Disclaimer