Charitable Bequests – a simple and effective way of Planned Giving.

Most people would donate money on an ad hoc basis – usually in the form of buying donation tickets or writing cheques to some mailings from Charities soliciting for funds. Planned Giving is more than that, it requires one to consider his/her financial affairs in a comprehensive manner to ensure that loved ones and self are adequately provided for while at the same time providing a lump sum or constant flow of money to your favorite charity.

People whom I’ve met that are contributing to Charities on a regular basis usually balk at donating away a lump sum of their Assets while still alive – a main reason cited was the fear of needing money in the event of some unforeseen contingencies. If you belong to this category of donors, a simple and effective way of Planned Giving you can consider is that of Charitable Bequests. You can name your favorite Charity as a Beneficiary in your Will and indicate a certain percentage of your Residuary Estate to be given to this Charity. The lump sum could be assigned into a Trust managed by a Professional Trust Company so that a fixed percentage of Trust Assets could be given yearly to your favorite Charity. With these arrangements, you can revoke your Will and Testamentary Trust in your lifetime and make necessary amendments according to changes in your financial status.

Charitable Bequests should be incorporated as one of your financial objectives when doing up your holistic Wealth Plan or comprehensive Estate Plan. This is to ensure that the needs of your dependents are not jeopardized while at the same time fulfilling your philanthropic interest – making a lasting gift that will have a long-term impact on the beneficiaries of your favorite charity long after you have left this world. Click here for more information on Planned Giving.

Will Writing

Trust Planning

Planned Giving

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