Nonprofit Organizations

Leave a Charitable Gift through Trust & Will

Incorporating charitable giving in your Estate Plan is one of the best ways to give back to the nonprofit organizations you care about most. Donate to any charity of your choice or choose from the most popular, below.

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HOW TO GIVE BACK: OPTION 1

Planned Giving in Your Will

The act of planned giving is one of the greatest, most rewarding accomplishments you can strive for in life. If you have charities, causes or organizations that are near and dear to your heart, you may want to consider putting a plan in place, using your Will, to help them in the future. Even if you donate on a regular basis right now, you can use your Estate Plan to create a planned effort that will continue supporting the causes you love, even after you’re gone.

Leaving money to charitable organizations in your Will is easy. And, it means that when you’re no longer here, your Estate Plan will keep your generosity alive and well. It can be a simple step that ensures your legacy is worth more than you may have thought possible. 

Planned Giving in your Will is the act of setting up future charitable gifts using tax advantageous, legal strategies. It’s different than just making a charitable donation from your current cashflow. One important distinction is that Planned Giving often comes into play after your passing, and beyond the role of charity, it can offer the added benefit of:

  • Decreasing estate tax liability

  • Effectively increasing the amount of an estate that can be passed to your family and loved ones

  • Donating to the nonprofit organizations you love

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HOW TO GIVE BACK: OPTION 2

Donate Your Retirement Account

There are more ways to give back using your Estate Plan than just leaving money in your Will. You can also choose to donate part or all of your Retirement Plan to one or more nonprofit organizations. Leaving your Retirement Plans to a nonprofit is a smart way to gift money to the organizations you care about, with the added bonus of helping your estate avoid a huge hit on the tax front. 

Contributions can be very tax efficient, benefiting both your estate as well as the charity you plan to leave assets to. Charitable donations of Retirement Plans is yet one more way to reduce the amount of income taxes your estate will owe. It can also help beneficiaries avoid taxes on their inheritances. Donating retirement assets is easy. You’ll simply need to designate the nonprofit of your choice as the beneficiary of your 401(k) or IRA retirement account.

If you’re considering donating part or all of your retirement, the following benefits may help you decide:

  • Charities are exempt from both income and estate taxes 

  • Your favorite charity will receive 100% of the account’s value after you pass away

  • Your estate will not pay income taxes on the asset distribution - you’ll receive a deduction on the contribution, which can offset estate taxes

  • You can easily contribute to multiple nonprofits

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HOW TO GIVE BACK: OPTION 3

A Charitable Trust

Another way to take part in charitable giving using your Estate Plan is through what’s known as a Charitable Trust. Setting up a Charitable Trust (or a Split-Interest Trust) is a simple, straightforward way to use your Estate Plan to donate assets to the charity of your choice while retaining many of the benefits you gain by holding those assets during your lifetime. Benefits of a Charitable Trust include:

  • Providing income to one beneficiary for a set time period (typically a max of 20 years)

  • Remaining assets will automatically go to a named charity

  • Removing assets from your estate can reduce tax liabilities

  • Diversifying your portfolio  

  • Helping avoid capital gains

Currently, Trust & Will does not offer Charitable Trusts; but plans to in the future.

HOW IT WORKS

It’s the smart, modern way to donate to the charitable organizations you care about most.

  • 1

    Determine your strategy. 

    Decide how you want to utilize your Estate Plan to donate to a nonprofit. This can offer many benefits to you, your estate, the organizations you want to donate to and to the legacy you hope to leave behind.

  • 2

    Create your Will or Trust-Based Estate Plan. 

    Choose the nonprofit to whom you want to donate then create your Will or Trust-Based Estate Plan using our easy-to-use online platform.

  • 3

    Donate to your preferred charity. 

    Leave either a portion of your estate or a specific dollar amount to the charity of your choice. Whether you write them into your Will, designate them as beneficiary of your retirement account or create a Charitable Trust...we make Planned Giving easy.

  • 4

    Gain peace of mind. 

    Feel good knowing you’re leaving behind a lasting legacy that will help others in the future, even when you’re no longer here to help them yourself.

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