What is Planned Giving?
Planned giving is a type of charitable giving that allows you to express your personal values by integrating your charitable, family and financial goals. Making a planned charitable gift usually requires the assistance of the charity’s development professional and/or a knowledgeable advisor such as an attorney, financial planner, or CPA to help structure the gift.
Planned gifts can be made with cash, but many planned gifts are made by donating assets such as stocks, real estate, art pieces, or business interests—the possibilities are endless. Planned gifts can provide valuable tax benefits and/or lifetime income for you and your spouse or other loved one. The most frequently-made planned gifts are bequests to charities, made through your will. Other popular planned gifts include charitable trusts and charitable gift annuities.
Charitable gift planning is the process of cultivating, designing, facilitating, and stewarding gifts to charitable organizations.
Charitable gift planning:
- uses a variety of financial tools and techniques for giving,
- requires the assistance of one or more qualified specialists,
- utilizes tax incentives that encourage charitable giving, when appropriate, and
- covers the full spectrum of generosity by individuals and institutions, and is based on powerful traditions of giving in the United States.
The techniques of charitable gift planning include both revocable and irrevocable arrangements, gifts available for use at the time they are given and gifts that may not be available until a future date and split-interest gifts intended to balance financial, personal and charitable objectives. These techniques are called planned gifts.
The tools of charitable gift planning include all types of real and personal property and tangible and intangible assets.
Donors should seek charitable gift planning advice from professionals with integrity, expertise, and experience in law, investments, property, tax, and charitable transfers in order to assure both the technical merits of the transfer and the philanthropic quality of the gift.
To learn more, visit www.leavealegacy.org.