Cole trust

Lula and Mason Cole were longtime residents of the Northern Neck. Throughout their lives, they were able to enjoy successful careers and establish a substantial amount of wealth as a result. They also had a heart for humanitarian work and their community which drove their decision to set up a trust that would eventually pass to charitable foundation(s) upon their death.

The Cole Charitable Trust was established through Chesapeake Wealth Management with the family’s attorney, Ray Britt, Esquire. This was a collaborative effort that allowed them to save a significant amount of money on taxes while they were living; and now funds grants to organizations that will continue work in the in the areas that they were most interested in.

Each year the committee managing the charitable trust reviews the applications that have been submitted. Applicants must meet specific criteria specified in the documents directions in order to be approved. This year 33 recipients received the awards, totaling $248,000. A representative from each organization met on 12/14 to receive their check, take a group picture, and share with each other more about their organization and heart for the community.

“It was great seeing over two dozen non-profits serving the Northern Neck together in the same room letting each other know the needs they are serving.  The mosaic of services they provide are integral to the betterment of our community.” –Jeff Szyperski, CEO, Chesapeake Bank

Please visit the links below to learn more about each recipient and their great causes.

If these arrangements sound like something you’d like to do with your own estate, please contact Chesapeake Wealth Management at (804)-435-3652.