Planned giving is one way to leave a good legacy.
Assets are often the first thought about estate planning. However, that does not mean your other values have to be left out of your estate plan completely. You can use your estate plan for planned charitable giving, according to the Nashua Telegraph in “Planning to give and leaving a lasting legacy.”
Planned giving is simply making provisions in your estate plan for a certain amount of money or a percentage of your estate’s assets to be given to charity. It is a popular option not only with the wealthy, but also with people of more modest means who want to leave something behind for good causes.
There are several different ways that you can make charitable donations a part of your estate. Some are as simple as a few lines written into a will and others are far more complicated, including setting up special trusts for the purpose.
An estate planning attorney can advise you on creating an estate plan that fits your specific values and may include planned giving.
Reference: Nashua Telegraph (May 20, 2018) “Planning to give and leaving a lasting legacy.”