Options for Planned Giving


Have you ever wanted to make a significant planned gift to a nonprofit or charity, but don’t know what your options are? There are a variety of gift types that enable you to leave a meaningful legacy to assure the future of organizations and causes that you care about – while building a more secure financial future for yourself.

The following list contains only a few examples of planned giving options that will allow you to honor a charity or organization with a generous gift:

  • Bequest: A gift made through your will or living trust. This can be the easiest gift to make, because it costs you nothing during your lifetime. Plus, it is “revocable” and can be updated at any time if circumstances change.
  • Beneficiary Designation: If you have set up a retirement plan, insurance policy, bank and/or brokerage account, chances are you’ve already completed a beneficiary designation form to specify who will benefit and what percentage you would like each party to receive. To make a generous gift from any of these assets, simply update the beneficiary form to include the charity or nonprofit of your choice.
  • Gifts of Real Estate: Real estate can also be deeded to organizations in return for an income tax charitable deduction for the value of the contribution. Plus, you can elect to make an outright donation, or use the value to fund a gift that pays you income.
  • Gifts of Personal Property: You can make a significant gift by transferring artwork, antiques, collectibles – any “appreciated item” – to certain nonprofit organizations. You receive an immediate income tax deduction and pay no capital gains on the appreciation. Be sure to discuss whether the organization should hold the property, display it, or sell it and apply the proceeds to the purpose of your choice.

While there are far more options than just those listed above, it is best to consult your banking consultant or financial advisor before making any major financial decisions.