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If you want to be certain the organizations you care
about receive a gift after your death, mention them by name in your Will.
 If I
leave something to charity will my family be left out?
Not if you have provided for them in your Will or trust. Many people set
aside a certain dollar amount for charity. Others leave a percentage of
their property or the remainder of their assets after providing for their
family. A Will or trust allows you to be flexible.
Who
can help me arrange for a gift?
If you have a professional you’re
working with like a financial planner, lawyer, accountant or insurance
agent, please talk with them about leaving a gift. A professional can tell
you about the tax benefits of planned gifts. It can also be helpful to
talk to someone at the nonprofit you are interested in.
What can I leave to a
charity?
All charitable organizations accept money. Gifts of stock
and paid life insurance policies also are options. Additional gifts could
include a car, house or other property. It can be helpful to discuss your
plans with the charity, especially if you plan to leave real or personal
property.
Can I leave
a gift in memory of a person for a
specified purpose?
Yes, this kind of gift can be mentioned in your Will.
Remember to be specific that the gift is given in memory of a particular
person or for a specific use..
Do
I tell the charity I’ve left the gift?
This is up to you. Charities often like to know
in advance so they can recognize your generosity. They can also tell you
about specific opportunities for giving. Whether you let the organization
know of your plans or not, is your decision to make.
Do I have to
include my wish to leave a gift to a specific organization in my will?
To be certain that the group
receives the gift, you should state your intention in your will. Without a
will, you lose control over your belongings after death. Your property and
finances are settled according to state laws, whether or not they coincide
with family wishes.
Must
I have an estate in order to leave a gift?
An estate is simply a word used
to describe any property, money or personal belongings that you may have
at the time of your death. Most people leave an estate when they die, even
though they may not have a great deal of wealth. Anyone can arrange to
leave a charitable gift from their estate when they pass away.
How do I
leave a gift for an organization
that I admire?
You can arrange for a gift several ways, the most
common being through a will. Many people set aside a certain dollar
amount. Others leave a percentage of their estate, or any assets left over
after their family has been provided for. Some people give a charity
something like a car or their home. Others leave a paid-up life insurance
policy or other financial investment. |
