Learn How You Can Leave a Legacy

What is planned giving?

Planned giving is a way of sharing your good fortune; and your time, talents, and treasures to help others. Finding the best way to give starts by asking yourself what you want to achieve and what makes sense given your financial circumstances. Do you want your gift to:

  • Minimize the portion of your estate that goes to taxes?
  • Be increased by using extra retirement plan income?
  • Take place at the time of your death?
  • Occur now so you can see the results?
  • Keep your loved ones’ inheritance intact?
  • Generate income for your family?

Strategies for charitable giving can vary as much as the individuals behind them. Using one or a combination allows you to act on the values and causes close to your heart while also providing benefits long after you’re gone.

What are the benefits of planned giving?

By intentionally developing a strategy using a combination of financial products and personal assets, planned giving allows you the potential to:

  • Give more than your current income allows.
  • Give an asset other than cash.
  • Receive recognition or remain anonymous, whichever you choose.
  • Pass your values and giving traditions on to children or grandchildren.
  • Receive tax benefits.
  • Receive income for a set number of years or for life.

More than one way to give. You can be generous in many ways, such as giving your time and talents to causes that matter to you. Or, you can be generous and express your values by giving back financially. There are three primary ways to give financially:

  • Spontaneous giving comes from the heart and typically doesn’t involve a lot of preparation. Because this type of giving is usually spur-of-the-moment, the donations are typically smaller. Examples include giving to disaster relief efforts or to a neighbor in need.
  • Intentional giving includes donations that you make on a regular basis. Examples include giving to your church, workplace, or school. Intentional giving happens because you have a connection with the recipient, or because it feels like the right thing to do.
  • Planned giving involves making a more significant financial gift and is part of an overall financial strategy. A financial planner can help you develop a giving plan designed to benefit the people and organizations that matter most to you, like your family, church, or charitable causes. This kind of generosity can be implemented while you’re alive or after your death.

Planned giving can include the gift of:

  • Real Estate
  • Stock
  • Life Insurance
  • Property
  • Investments
  • Beneficiary Proceeds
  • Cash
  • Mutual funds
  • Annuity proceeds

With planned giving, you have the opportunity to leave a legacy and potentially benefit from tax advantages at the same time. The first step is to develop a charitable giving strategy, call us at 503-845-2434.