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The Inland Northwest Planned Giving Council

Do I have to have an estate to leave a gift?

"Estate" is simply a word used to describe any property, money, or personal belongings you have when you die. Most people leave an estate, even if they don’t have a lot of money. Anyone can arrange to leave a charitable gift from their estate.

How do I leave a gift to support the organizations that I believe in?

You can arrange to make a gift in several ways; the most common is through your will. You may set aside a specific dollar amount or state a percentage of your estate, life insurance, or any assets for one or several organizations to receive. A charitable remainder trust is another way to make your gift – providing income to you for life and a gift to charity at your death.

Do I tell the charity I’ve left the gift?

This is up to you. Charities often like to know in advance so they can recognize your generosity. They may also be able to help you specify particular programs to receive your gift and help you use the correct legal name of the organization in your documents.

How do I leave a gift in memory of a person?

A planned gift is a wonderful way to recognize someone who has made a difference in your life or to honor an organization that made a difference in the life of a loved one. This kind of memorial gift can be made in the same manner as your planned gift – through your will or trust. You just need to make it clear that this gift is made in memory of a particular person or for a specific cause.

If leaving a legacy is of interest to you, take the next steps…

1. Think about to whom and why you’d like to leave a gift. Maybe you or someone you know has been helped by a particular organization. Maybe you’re an active volunteer or believer in the mission of the organization. You may want to leave a gift in memory of a loved one or for a specific use.

2. If you need to know more about a non-profit organization to which you may want to give, call that organization and ask for information. They can give you a better understanding of what they do and what opportunities are available for your gift to make a difference.

3. Contact your professional advisor for help. He or she can make sure you are getting the maximum tax and legal advantages allowed for your gift.

4. When your gift is made, sit back a moment and enjoy the warm feeling of knowing that you are making a difference in the lives of your family and your community for years to come.

 

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