Top 10 Things You Can Do to Leave a Legacy
1. Prepare a will. Only 50% of those who pass away have one. Without a will, you lose control of the possessions and wealth you worked a lifetime to acquire.
2. Leave a gift in your will for the charitable organizations which made a difference in your life. Less than 3% of all wills settled contain a charitable provision. Imagine the positive impact on our community if everyone made a donation to a favorite non-profit, even a modest gift.
3. Leave a specific dollar amount or a percentage
of the assets in your will to your favorite charity. The provision can be part of a new will or added to your existing will with a simple amendment, called a codicil.
4. Consider using assets for your charitable gift. These can include, but aren’t limited to: stocks, bonds, CDs, real estate, vehicles, art and jewelry. Such gifts may even provide a tax savings to you and your family.
5. Name your favorite charity as the beneficiary of your IRA, retirement or pension plan.
6. Purchase a new life insurance policy, naming your favorite charity as the beneficiary.
7. Name your favorite charity as the beneficiary of an existing life insurance policy.
8. Remember deceased loved ones with memorial gifts to charities.
9. Encourage family members and friends to leave gifts to charities in their wills.
10. Ask your financial advisor to include charitable giving as part of their counsel to other clients.