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How Planned Giving Can Support the Legacy Foundation

Thursday, April 5, 2018   (1 Comments)
Posted by: Beth Chitnis
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What is Planned Giving? How Can It Support the Legacy Foundation?

The Legacy Foundation has provided information about the various types of gifts that can be made to Legacy Foundation. All of them are great ways to support the mission of the Foundation. We have talked about General Donations, Matching Funds, Deferred payment donations, etc. However, there are other ways to support the mission of the Foundation. And that is through Planned Gifts. Planned Gifts allow donors to designate funds that will eventually be received by the Legacy Foundation in the form of bequests, charitable trusts, gift annuities, life insurance and other forms.

Leaving a long-term legacy for insurance education is something that should be considered a part of your retirement planning and charitable giving process. Maybe this is a good time to consider a Planned Gift to the NAIW Legacy Foundation.

There are different types of Planned Gifts that can be considered:

  • Current Gifts: Current gifts are those that are given and received now. Current gifts can include cash or checks, stocks or bonds, real estate, or other personal property.
  • Deferred Gifts: The most common type of deferred gift is a bequest. A deferred gift can be received now, or sometime in the future. You make a provision in your Will to benefit the Legacy Foundation that is not paid until sometime in future.
  • Other Deferred Gifts include donating an insurance policy making the Legacy Foundation the owner and beneficiary. This may produce some tax savings for the donor and benefit for the Legacy Foundation in the future. Check with your financial advisor or tax attorney before giving this type of gift.
  • Qualified retirement plans make good assets for deferred charitable gifts. Talk to your retirement plan manager about making this type of gift.

A planned gift to the NAIW Legacy Foundation would be an excellent way to help perpetuate the industry and provide insurance education for both current and future employees of the insurance industry.

Consult your attorney or financial advisor for advice and assistance in deciding which Planned Gift is most appropriate for your specific case. Decide which Gift works best for you and contact the Legacy Foundation before making the gift. Have the necessary documents drawn up and executed. Provide a copy of the documents or a letter to the NAIW Legacy Foundation confirming your Gift in your will.

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Permission to adapt the article “Types of Planned Gifts” from the October 2003 issue of Planned Giving Mentor T (Copyright C 2003) was provided by the publisher (www.pgmentor.co) and by Diana S. Newman, Principal, Benefactor Group, Columbus, OH (www.diananewman.com)

Comments...

Terri A. Brennan says...
Posted Saturday, April 7, 2018
What great reminders of the many ways to support Legacy Foundation!

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