People of our nation are some of the most charitable in the world. In fact, Americans give somewhere around $450 billion a year to charity. You may have causes that you want to support with donations. And one of the best, little known ways that you can do this is to leave a legacy.
Leaving a legacy is the means of bequeathing a monetary sum to a charity or organization that will aid them in a way that will further their mission and allow them to continue to thrive in the community. These non-profit organizations may take on many different forms. Examples of these can include:
- religious institutions
- scholarship facilitators
- arts and literature organizations
- food banks
- homeless shelters
When you are trying to decide where your endowment will be best served, consider things that are of interest to you or an organization that has made an impact on you or a family member’s life. Here are three tips for giving smart from the heart.
First, ask the hard questions. When you make an investment, it’s recommended that you examine your choices and ask lots of questions. You should treat any charitable donation in the same careful manner.
Second, give where it counts. Some universities and major hospitals have huge endowments, while your local homeless shelter may struggle to keep its doors open. Sometimes finding smaller charities with bigger needs may increase the impact of your dollars.
And third, volunteer where you donate. The greatest donor satisfaction may come with a combination of time and money. Volunteering gives you a chance to see your dollars at work, and the rewards may far outweigh simply writing a check.
Here is the best part of all. No matter what your age or income, you can leave a legacy to a cause that is dear to you by using the vehicles of life insurance or annuities. With this method, you can provide a legacy by paying a manageable, recurring premium amount at an interval that you choose. You can designate the organization of your choosing to be the beneficiary of the death benefit upon your passing.
When you choose to give, you will always get more in return. And no matter how big or small, these gifts are a blessing to the recipients you choose. You can learn more from this video that will explain the best practices.
Call today and let’s discuss your options to leave a legacy to what matters most to you.