Questions & Answers About Leaving A Gift Do I have to include my wish to leave a gift to a specific organization in my will?
To be certain that the group receives the gift, you should state your intention in your will. Without a will, you lose control over your belongings after death. Your property and finances are settled according to state laws, whether or not they coincide with family wishes.
Must I have an estate in order to leave a gift?
An estate is simply a word used to describe any property, money or personal belongings that you may have at the time of your death. Most people leave an estate when they die, even though they may not have a great deal of wealth. Anyone can arrange to leave a charitable gift from their estate when they pass away.
How do I leave a gift for an organization that I admire?
You can arrange for a gift several ways, the most common being through a will. Many people set aside a certain dollar amount. Others leave a percentage of their estate, or any assets left over after their family has been provided for. Some people give a charity something they won like a car or their home. Others leave a paid-up life insurance policy or other financial investment.
Who can help me arrange for a gift?
If you have a professional you're working with like a financial planner, lawyer, accountant or insurance agent, please talk with them about leaving a gift. If you do not have a relationship with a professional, you'll find referral phone numbers on the back of this brochure. A professional can tell you about the tax benefits of planned gifts. You can also call the nonprofit organization for help.
How do I leave a gift in memory of a person or for a specified purpose?
A gift is a wonderful way to recognize someone who has made a difference in your life. You may also want to give to a specific cause like research or to a new building. This kind of memorial gift can be arranged in your will, the same way that you would leave a personal gift from your estate. You just need to make it clear that the gift is given in memory of a particular person or for a specific use.
Do I tell the charity I've left the gift?
This is up to you. Charities often like to know in advance so they can recognize your generosity. They can also tell you about specific opportunities for giving. Whether you let the organization know of your plans or not, is your decision to make.
Copyright © 1998 Arnett & Broadbent, Inc. All rights reserved.
Ed Arnett or Bill Broadbent, S.E.C.-CCIM
Arnett & Broadbent Inc.
SINGLE AGENCY REAL ESTATE REPRESENTATION1380 Broad St.
San Luis Obispo, CA 93401-3910
(805) 543-9100
e-mail to bill@arnettbroadbent.com
Copyright © 1997 Arnett & Broadbent, Inc. All rights reserved.