Ways You Can Leave a Legacy: Planned Giving

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At the MJHS Foundation, our mission is to ensure that all at-risk members of our community have access to quality health care.. As a not-for-profit organization, we rely on generous donations from grateful families and donors. There are many ways to give to MJHS, and one of the ways is by leaving a planned gift through your will or estate. This option isn’t for everyone, but could it be for you?

What Is Planned Giving?

Planned giving refers to a donor’s intention to make a gift as part of their final estate plan. Put simply, it’s a donor’s plan to make a significant contribution to the charitable cause of their choice. Planned gifts, as their name would suggest, are planned ahead and given to the recipients at a later date, usually after the donor’s death or to honor an anniversary or birthday. Leaving a planned gift is an opportunity to significantly impact an organization’s legacy. There are various ways to leave a planned gift. Below are a few of the common ones.

What Are the Different Ways to Make a Planned Gift?

Planned gifts can take multiple forms. You can plan to gift appreciating assets such as artwork and homes, or you can plan to give monetary gifts that directly benefit your charitable cause after your death. Some common forms of planned gifts include:

  • Charitable gift annuities – Through a charitable gift annuity, you may receive a lifetime annuity in the form of fixed income made payable to you or a loved one in return for your generous donation.
  • Gifts of stocks, bonds, and mutual funds – You can support the MJHS mission by contributing appreciated securities, such as stocks or bonds. These types of gifts maximize the benefit of your gift by providing you with capital gains, tax savings, and an income tax charitable deduction. You can also make contributions from mutual funds accounts. Find more on the process here.
  • Bequests—A bequest is a general gift or a gift for a specific purpose left as part of a will or trust. Bequests require instructions explaining the sum, the recipient, and the intended use of the gift. These instructions are usually left in a will.

Additionally, you can arrange a charitable lead trust, which provides a stream of funds to the charitable cause until your death; at this point, beneficiaries such as family members will receive what remains in the trust. You can even plan a gift as a life insurance policy, in which the beneficiary is your charitable cause of choice.

What Are Some of the Benefits of Planned Giving?

Planned giving is a great way to ensure that you can continue making a positive impact as part of your legacy. By gift planning, you can significantly invest in the future health of your charitable organization of choice. Additionally, planned gifts come with tax savings, such as reduced income tax or exemption from estate tax, depending on the type of gift.

You may want to donate to a cause dear to your heart, but you may not be able to do so in the form of a large outright gift. This makes planned giving a great option because it allows donors to invest in future gifts over time. No matter what assets you have now, you can contribute to a significant future gift by gift planning.

Interested in Leaving a Legacy?

If you want to learn more about making a planned gift, please call us at 212-356-5300 or fill out the Declaration of Charitable Intent Form. We welcome speaking with you or your financial or legal advisors.

This article is for informational purposes only and should not be used for legal or financial advice.