Planned Giving
Planned Giving
Charity is not limited to your lifetime.
Many of us have our personal reasons for giving while we are living, but statistics show that only a few of us have thought about making a charitable gift that will leave a legacy long after we are gone.
The North Texas Area United Way is an active participant and leader in a nationwide Leave a Legacy campaign to educate donors about the importance of leaving something to the charities they care about most. By providing for the future through planned giving, you make it possible for the North Texas Area United Way to create long-lasting change for us all – for generations to come. Making a planned gift is one of the best ways to support the North Texas Area United Way.
As part of your financial and estate plans, you may also want to consider gifts that will be received only after you and your loved ones no longer need the assets.
Planned Giving can:
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Reduce your taxes
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Increase your income
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Conserve your family’s wealth
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Fulfill your charitable goals
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Be designed to reflect your special interests
We recommend that you consult with advisors to find out if one or more of these options may help you meet long-term charitable goals while first providing for the needs of
Giving through your Will
This can be a convenient way to leave a lasting legacy. After providing for your loved ones, you may decide to make charitable gifts of a specific amount, a percentage of your estate, or all or part of what remains after family and/or friends have been remembered. Such a gift can often be arranged with a simple addition of a codicil (amendment) to your existing will.
Giving through Living Trusts
A growing number of people are using trusts created during their lifetime (often referred to as “living trusts”) to provide for the management and future distributions of their assets while reducing the cost of probate. Charitable gifts can be a practical addition to these trusts. A simple amendment to a living trust can be all that is required to make a gift in this way.
Giving Life Insurance Proceeds
You may name a charitable beneficiary to receive all or portion of policy proceeds at death. Income and estate tax benefits may result from such gifts.
Retirement Plan Remainders
This is gaining in popularity because amounts remaining in various retirement plans at death may be subject to both estate and income taxes before ultimately being received by heirs. For this reason, charitable gifts of retirement plan balances may be wise from both income and estate planning perspectives.