Supporting causes such as disaster relief, animal shelters, environmental sustainability, youth programming, and housing for people experiencing homelessness may be an indispensable way of championing the causes for which you believe. In life and beyond, supporting these causes can be essential to contributing to society long after departing this life. If you live in California, you have several options for planning your last gifts to benefit non-profit organizations.
Discuss your decision with your family
When determining how to divide your estate, it is vital to consider the many people and organizations you will leave behind. Having a conversation with your family about your wishes may help create an easier process for your estate planning. Making sure your family knows your intentions can help them better understand your wishes and prevent disagreements after you die.
Consider your charitable donation options
Additionally, think about the causes and organizations that are most important to you and how your gift may create a better foundation for their operations. A bequest or a charitable gift can provide support for general operating funds or for specific projects. Take this into account when making decisions about your final gift.
Financial support options
The legal tool facilitating the gift is an aspect to contemplate when leaving assets to charity. Donors have many options from which to choose, such as a charitable gift annuity or a charitable remainder annuity trust. Each option available to you will have advantages and disadvantages. Thinking your options through before making a final decision may ensure your gift provides much-needed support.
Estate planning, while complex, is a crucial aspect of legacy planning. Using the legal tools available can make a difference to those people and organizations that continue after your death.