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What Will Your Legacy Be?

 

A Brief Introduction to Planned Giving

What is a planned gift?

A planned gift is a contribution that is arranged in the present and allocated at a future date. Commonly donated through a will or trust, planned gifts are most often granted once the donor has passed away. The purpose of planned giving is two-fold: For the organization, it provides higher-level gifts, increased future stability, and increased donor commitment. For the donor, it provides a way to give beyond the use of current assets and often provides significant estate tax benefits.

What are the benefits of planned giving?

  • Maintain control of your assets. Planned giving allows you to make a gift that costs you nothing now but guarantees long-term support for the Center.
  • It’s easy! Including a provision for the Center in your will or designating the Center as a beneficiary of your retirement account or insurance plan is simple.
  • Freedom to change your mind. Planned gifts can be changed if your circumstances or priorities change.
  • Flexibility. Planned gifts can designate and specific dollar amount, a percentage of your estate, or a portion of what remains. They can also be directed to benefit a program of your choice.
  • It feels good. Planned gifts are a great way to contribute to causes that are essential and important to you.

 

How do I make a planned gift?

First, you should decide what kind of planned giving is right for you. There are a number of planned giving instruments, but the simplest is a charitable bequest. Bequests are a provision made in a donor’s will, through which an organization receives cash and/or other assets at the time of the donor’s death. 

Other instruments include designations from a life insurance policy or retirement funds, charitable remainder trusts, charitable lead trusts, and life estate contracts. Additional information on these more complex instruments can be found on the Instruments of Planned Giving table provided in this packet.

Once you decide which instrument is right for you, it is time to contact your financial and/or legal advisors. Center staff will work with you and your advisors to identify how you’d like your gift to be used and to determine the next course of action.

Instruments of Planned Giving

 

If you’re considering a planned gift to the Center for the Inland Bays, please contact:

Anna Short, Development Coordinator
at 302-226-8105 ext. 102 or ashort@inlandbays.org