Other Ways to Give
Legacy Giving
You may consider making charitable gifts that will be received in the future as part of your financial and estate planning. You may find one or more of these ways to give will help you meet long-term charitable goals after providing for your own needs and those of your loved ones. All suggested giving methods should be discussed with your estate and tax advisors so that they can provide you with advice appropriate for your circumstances under the laws in effect at the time of your gift.
Giving through your will: This is a convenient way to make a gift in the future. You may wish to make a gift of a specific amount, a percentage of your estate or all or part of what remains after you have remembered family and friends. These gifts can often be arranged with the addition of a simple codicil (amendment) to your existing will. Giving through living trusts: Many estates are distributed primarily through a trust created during an individual’s lifetime (often referred to as a “Living Trust”). Charitable gifts may be included in living trusts when the trusts are created, or can be added later with an amendment to the trust. Giving the proceeds of a life insurance policy: A life insurance policy no longer needed for its original purpose, can also be a practical way to make a future gift. You may name one or more charitable interests to receive all or a portion of a life insurance policy’s value at death. Gifts of retirement plan remainders: This type of charitable gift is becoming more popular as people accumulate a significant portion of their assets in a tax-favored retirement plan, and because individuals who inherit these plans typically must pay income tax when they withdraw the funds.
