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How do I leave a gift for a nonprofit organization that I admire? It's easy. You can arrange for a gift several ways, the most common being through a charitable gift in a will or a living trust. Many people set aside a certain dollar amount. It can be as much or as little as you wish. Others leave a percentage of their estate or any assets left over after their family has been provided for. Some people donate something they own, like a car or their home. Others leave a paid up life insurance policy, retirement account or other financial investment. What is an estate? An "estate" is simply a word used to describe any money, property or personal belongings that you may have at the time of your death. Must I have an estate in order to leave a gift? Most people leave an estate when they die, even though they may not have a great deal of wealth. If you own anything that can be left to someone after your death, you have an estate! Anyone can arrange to leave a charitable gift from their estate when they pass away. Many gifts are less than $1,000. One woman designated $300 towards new books at the local library. She knew her estate wasn’t enough to build a library, but she could still make a difference. What is a bequest? A gift, left in a will, passed on to another; something that is bequeathed; a legacy. Do I have to include my wish to leave a gift to a specific organization in my will? A charitable bequest will not take effect unless you state your intention in your will or living trust. Without a will, you may lose control over your belongings after death. Your property and finances are settled according to state laws, whether or not they coincide with your wishes. How do I leave a gift in memory of a person or for a specified purpose? A planned gift is a wonderful way to recognize someone who has made a difference in your life or to honor an organization that made a difference in the life of a loved one. This kind of memorial gift can be made in the same manner as your planned gift - through your will or trust. You just need to make it clear that this gift is made in memory of a particular person or for a specific cause. Do I tell the charity that I've left a gift to them in my will? That 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. But whether or not you let the charity know of your plans, it's your decision to make. Who can help me arrange for a gift? If you have a professional you're working with, such as a financial planner, lawyer, accountant or insurance agent, please talk with him or her about bequeathing a gift. A professional can tell you about the tax benefits of planned gifts. You can also call a nonprofit organization directly for assistance. Or you can call us at North Coast Legacy at 707-442-2993. What does North Coast Legacy charge for their services? Nothing. North Coast Legacy neither collects nor distributes any donor funds (planned gifts) – we are not a fundraising organization. We don’t get a “cut” of your planned gifts. We provide free tools to help nonprofits discreetly and tastefully suggest legacy giving to their donors. Our donors are (too young) (not interested) (of too modest means) to suggest legacy giving. Why should we bother with planned giving or North Coast Legacy? There are many reasons and ways that people give to support the vital work of nonprofit organizations. People give because they are asked. Give them all the choices possible for supporting your work. Never assume anyone doesn’t have the means or assets to make a legacy gift. FAQs | Site Map | Home | Contact Us |
