Planned giving is the process of making a significant charitable gift during your life, or at death, that is part of your financial or estate plan. Some planned gifts provide life-long income to you. Other gift plans use estate and tax planning to provide for charity giving and your heirs or loved-ones, in ways that maximize the gift and/or minimize its impact on your estate.
Yes! Every adult should at least have a will. If you don’t have a will or trust (both are types of estate plans), the state in which you live will determine how your assets are divided – and also decide the guardianship of those under your care. As for all the nonprofits you lovingly supported throughout the years, like PSS… they will get nothing.
A will is a legal document that specifies important things such as – who will inherit your property after you are deceased; how your spouse, loved-one will be cared for; who will be the executor of your estate; and what charities may be supported.
An estate plan is a broader term that includes a will, but may also include other documents that protect your family and property while you are alive or incapacitated, such as…
Consider your answers to these questions:
Once you have these answers, make an appointment with an estate planning attorney to begin putting your wishes into place.
See below for ways to do that…
It’s a gift that costs you nothing now, is flexible and can often be established easily through an amendment to an existing will, or through creating a new will. For more information on bequests, please contact giving@pssusa.org.
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PSS gratefully accepts gifts in the form of stocks, appreciated securities, insurance and retirement plans. Please consult with your financial planner to determine the best option and contact giving@pssusa.org for more information.
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A trust is a fiduciary arrangement, often used in estate planning, which allows a third party, or trustee to hold assets on behalf of a beneficiary or beneficiaries and can determine how and when the assets pass to those beneficiaries. Trusts can sometimes avoid probate so that your beneficiaries may gain access to these assets more quickly than they might to assets under a will, saving time, court fees, and potentially reducing estate taxes as well.
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Click here to learn more ways to give to PSS.