Planned Giving
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Covered in this section:
1 Why should I have an estate plan?
2 How should I include the specific organizations I wish to benefit in my estate plan or will?
3 Are there different ways to leave a gift to the charity I admire?
4 Who can help me arrange a bequest or life income gift?
5 How do I leave a gift in memory of a certain person or for a specific purpose?
6 Ten things you can do now to leave a legacy
The San Diego Council on Literacy needs long-term financial support from everybody in our community. We are a 501c(3) non-profit organization whose purpose is to increase the literacy rates of both adults and children throughout San Diego County.
Why should I have an estate plan?
Your estate is any property, money, investments, or personal belongings that you own. An estate plan can be a simple will or living trust, which shows specifically how you wish your possessions to be distributed after you die. Without a will or trust, state law decides how your property will be distributed. A brief bequest can easily describe how much and to whom you wish donations to go.
How should I include the specific organizations I wish to benefit in my estate plan or will?
To be certain that charities you wish to help are included, list each by name and address with the specific amount or percentage of your estate you want each to receive.
Are there different ways to leave a gift to the charity I admire?
You can arrange for a gift several ways, most commonly through a paragraph in your will or living trust. It is also possible to bequeath a car, boat, jewelry, stocks or bonds, assets, your home or other real estate, any of which may also lower the estate taxes which might be levied.
You may also donate securities or real estate now to a charitable trust and receive income for your lifetime (and another person's), avoid all capital gains tax if the asset donated is appreciated, gain an immediate tax deduction and benefit the charity when you pass on.
Who can help me arrange a bequest or life income gift?
The council recommends if you have a professional financial advisor, lawyer, accountant or other trusted advisor, you talk to them about your gifts.
How do I leave a gift in memory of a certain person or for a specific purpose?
A gift bequest is a wonderful way to memorialize a loved one or recognize someone who has made a difference in your life. Through your will or a trust, you can arrange the gift just as you would while living. Talk to the staff at the council.
They can help you ensure the gift will be used exactly as you want.
Ten things you can do now to leave a legacy
1. Make a will! Almost half the people in the U.S. die without one thus missing one of the best and easiest ways to Leave A Legacy. If you die with no will, state law determines how your assets are distributed and your favorite charity will receive nothing from you.
2. Having written your will (with appropriate legal advice) be sure to include a paragraph which describes each bequest (a specific gift) to a family member or friend or to The San Diego Council on Literacy.
3. As an addition to having a will, you may set up a living trust (with a lawyer's help and advice) in which you can list specific gifts from your estate to The San Diego Council on Literacy.
4. Your estate consists of all your property and possessions at the time of your death.
You may leave any possession to The San Diego Council on Literacy such as securities, jewelry, art, a vehicle, boat, home or real estate.
5. You can donate an existing (or a new) life insurance policy by making The San Diego Council on Literacy the policy's owner or beneficiary.
6. You can leave a legacy by establishing a permanent endowment fund with The San Diego Council on Literacy. Its future income will go to meet a specific need or provide for the programs you have designated in advance.
7. You can donate funds now to pay for a major capital need to serve The San Diego Council on Literacy far into the future.
8. You can establish a "planned gift" with The San Diego Council on Literacy which gives you (and another person if you wish) lifetime income, an immediate tax deduction and the gift will benefit The San Diego Council on Literacy when you (both) die.
9. You may name The San Diego Council on Literacy as beneficiary of your IRA or other pension account and receive a number of favorable tax benefits.
10. You can leave a legacy by encouraging family and friends to make their own wills and include bequests to The San Diego Council on Literacy.