Summary
Rob MacPherson, vice president of development at the Central Indiana Community Foundation, added that clients should also consider all aspects of their wealth they may not otherwise consider, such as life insurance policies, retirement assets, investments, properties such as houses, farmland or vacation homes, in addition to cash and securities they have if they can determine that their heirs wouldn't need the entire amount. If the donor receives something in return, such as a building named after them at a university for giving a large gift, or if a donor pledges to give so much over a certain amount of time and the recipient has already begun plans to use those pledged funds to implement a program, start new construction or renovations, or to support a chair position, those would be enforceable contracts.
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Planned Giving: Here's What to Conisder
If you have continuously donated money and time to specific organizations, or if you want to save some money on taxes, or maybe a little of both, planned giving might be a way to continue both of those aims.
However, there are a few things to consider, such as how to set up the planned giving, what the money can or can't be used for, who can speak for your interests after yo...See the full content of this document
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