What is Legacy Giving?

  • It is part fundraising and part financial/estate planning

  • Values first; taxes second (or further down the list)

  • Typically, a person’s final, or ultimate, gift to an institution

  • Primarily gifts from wills/estates, but can also be current gifts such as endowments and life income gifts such as charitable gift annuities

Why do people make legacy gifts?
  • Achieve philanthropic objectives - In memory of another person or - Values in line with organization’s mission - Personal history with organization- Ultimate use of the gift by the charity

Types Of Gifts

 

We focus on "Beneficiary Designations”

 

  • Bequests: Gift made through a will or a living trust. Usually comes in the form of a set dollar amount or percentage of an estate that goes to a nonprofit after the donor’s death.
  • Appreciated Securities (stocks): If the donor has owned a publicly traded Appreciated Security for over a year, it can be transfered to a nonprofit organization. The donor can designate which purpose they would like to see the proceeds applied to. The donor will get an income tax charitable deduction based on the fair market value of the securities.
  • Gifts of Life Insurance: Donor can designate a charity as a Life Insurance policy beneficiary; when the donor dies, the charity receives the proceeds. This is also beneficial for the donor’s heirs, since the proceeds distributed to a nonprofit are tax-exempt.
  • Ultimate use of the gift by the charity
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Please Remember Us In Your Will And Trusts

Watch our Presentation to Learn More!