Q: I would like to donate to a charity but don’t have the means to do so at this time. Is there a way to leave a donation upon my passing?
A: Many people choose to make an end of life gift to their favorite charity or church through a simple will or a beneficiary designation. In a nutshell, planned giving is a great way to leave a legacy at your favorite organization and allows you to make a gift that you ordinarily may not make. In order for an individual to leave behind a major gift, planned gifts can take many different forms. They can take the form of real estate, personal property, life insurance, or even cash. Often times planned giving involves designating a charity as a beneficiary on qualified funds or highly appreciated assets in order to pass these assets on tax-free. Planned giving helps secure the future of organizations as well as representing an individual’s commitment to positively affect their communities.