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Planning with Your Passion in Mind

Are you passionate about your alma mater or another organization? Do you consistently donate to the same charities year after year and want to do more?  Charitable Legacy Planning can help you do this.


Every year, we donate to our favorite charities and institutions through annual fund drives and membership dues. These donations can be substantial but they are from our discretionary income.  While they have a positive impact on the non-profit, the gift is short-term.  It’s not part of our overall estate plan or Legacy Plan.


Charitable Legacy Planning allows philanthropic individuals and donors to make larger gifts to non-profits and charities than they could make from their income. Here’s how:


3 Types of Charitable Legacies

  • Outright gifts that use appreciated assets as a substitute for cash.  Examples – stock or real estate.
  • Gifts may return income and other financial benefits to the donor in return for the legacy contribution.
  • Gifts payable upon the donor’s death.

Options to Fund Your Charitable Legacy

  • Life Insurance is preferred.  It does not affect the rest of your estate plan.
  • Donor Advised Funds (DAF) offer maximum flexibility and low administrative cost.
  • Charitable Remainder Trust – a split interest trust that provides lifetime income to you and your spouse.  Multiple tax benefits accrue.  At the last death the remaining assets transfer to charitable organizations of your choice.
  • Endowments and Foundations – a trust created during your lifetime with the transfer of ownership of property.  It is managed by a trustee of your choice.

Efforts to encourage Charitable Legacy Planning are popular among colleges, universities, hospitals, museums and community foundations throughout the United States.  Funds from these gifts are devoted to current funding needs as well as capital projects and endowments.


Sources: www.plannedgiving.com, www.northwesternmutual.com, www.wikipedia.com


Leaving a legacy for the institution or organization in which we are passionately engaged Leaving a legacy for the institution or organization in which we are passionately engaged is a dream come true!  We are equipped to help you strategize how to make your dream come true.

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