According to a study commissioned by the National Committee
on Planned Giving, 11 percent of Americans have already earmarked money
for charities in their wills or created another type of planned gift.
And one out of four people surveyed (25 percent) plan to add a charitable
bequest to their wills.
One of the survey's most interesting findings is that
bequests and planned gifts are not just done by seniors. In fact, more than two-fifths
of those who have set up gifts to charities in their wills are younger than 55.
Bequests
enable donors to maintain ultimate control of their assets. To understand how
this works, it may be helpful to think of your assets as two types of individual
capital: personal capital and social capital. Personal capital is the portion
of your estate that you control and can pass along as you wish to your designated
heirs. Social capital is the portion of your estate that will be paid in taxes,
unless you direct it to charitable giving.
With a charitable
bequest in place, you retain control of your social capital. Instead of your hard-earned
assets going to the government, which will use your money as it sees fit, you
get to decide how your money will be spent, what it will accomplish, and who will
administer your funds. You can then be confident that your assets will be managed
effectively and used exactly as you direct.
Please note, individual
financial circumstances will vary.
The information on this site does
not constitute legal or tax advice.
Donor stories and photographs are
for purposes of illustration only.
As with all tax and estate planning,
please consult your attorney or estate
specialist. All material is copyrighted
and is for viewing purposes only.
Use of this site signifies your agreement
with the
terms
of use. The content in this Planned
Giving section has been developed
for the Foundation of FirstHealth and is owned
by
Future
Focus. Please report any problems
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section webmaster.
