How to Make Charitable Giving Part of Your Estate Plan
- January 19, 2022
If you are charitably-inclined and are looking for ways to give back to your community or support a cause you cherish, consider making charitable giving a part of your estate plan. There are a variety of ways to gift through resources such as Charitable Gift Annuities, Charitable Gift Life Insurance, and/or Charitable Trusts; each of these will provide you with the opportunity to leave the legacy you had intended.
The Three Stages of Gifting
Choose a charitable cause that is important to you
The first step is deciding which charity or cause is meaningful to you and your family. Consider the following:
- What issues concern you?
- What do you worry about for future generations?
- How do you want to be remembered?
Select the assets to gift
After you have identified the charity or cause you would like to donate to, the next step is deciding what assets you would like to gift. While cash is typically universally accepted, charities often accept other assets such as stocks, bonds, real estate, and/or collectables. Determining which assets you plan on donating will help you structure which form of charitable giving is right for you.
Decide how to donate your gift
The final step when making a gift to a charity is choosing how you would like to make your donation. You can place your assets in a Charitable Gift Annuity, Charitable Trust, and/or Charitable Gift Life Insurance Policy. While you can donate assets to a charity in your Will, having them placed in any of these options will ensure your donation does not become a matter of public record, allowing it to be made without the delays of probate.
Make a lasting difference by giving a gift that will brighten someone’s tomorrow.
©2021 Oppenheimer & Co. Inc. Transacts Business on All Principal Exchanges and Member SIPC.
The information contained herein is general in nature, has been obtained from various sources believed to be reliable and is subject to changes in the Internal Revenue Code, as well as other areas of law. This material is for informational purposes only and should not be construed as a solicitation of any particular insurance product or insurance carrier. Insurance is sold through Oppenheimer Life Agency, Ltd. (OLA), an indirect wholly owned subsidiary of Oppenheimer Holdings. Before purchasing a policy of insurance, please review both the insurance carrier and the insurance policy carefully before investing. A strategic alli-ance exists between OLA and various outside providers whereby products and services may be utilized. Such providers may receive compensation as a result of the strategic alliance. However, the firms are completely independent of each other. This material is not a recommendation as defined in Regulation Best Interest adopted by the Securities and Exchange Commission. It is provided to you after you have received Form CRS, Regulation Best Interest disclosure and other materials. Oppenheimer & Co. Inc. Transacts Business on all Principal Exchanges and Member SIPC 3937165.1