For many people, charitable gifts are an important part of their estate plan. Whether as a planned specific gift or as a backup beneficiary, naming a charitable organization in your estate plan can be an excellent way to continue your contributions to a cause you care about and leave a lasting legacy.
When planning legacy gifts, there are many important considerations to weigh in ensuring that your gift functions as intended. Even if you have a specific amount in mind, the structure of the gift and which documents or accounts the charity is named in as a beneficiary can have significant implications for taxes and the difficulty of administering your estate for your representatives.
If you plan to leave them, it is important to consider legacy gifts as part of a comprehensive estate plan designed to account for all of your needs and wishes in a coordinated manner. If you’d like to ensure your plan accurately reflects your intent, please contact us.