Simply put, planned giving enables people — your clients, our donors — to make large, meaningful gifts to the organizations that reflect their beliefs and values while leaving a unique legacy to memorialize those values and beliefs by supporting them during their lifetime and beyond.
Planned giving‘s flexible gift options meet the financial, personal and family goals of philanthropically-minded clients in every situation — young or old, extraordinarily wealthy or those with only modest financial means.
In other words, your clients can create a meaningful charitable legacy while taking care of themselves and their loved ones — and they may be surprised to learn that they can do it all without sacrificing their quality of life.
When most people think of supporting a charity, they think of outright gifts of cash (by check or credit card) or a gift of a few shares of stock in response to a request for contributions. These outright gifts (often called “current use” or “annual” gifts) are crucial dollars for a charity because they are immediately available for the charitable purposes your client wants to support.
Your client benefits from an immediate tax deduction and has the satisfaction of knowing that the gift is having an immediate impact. They‘re easy, too — your client can just write a check or call in a credit card number, or give a broker the stock transfer instructions.
But your client‘s cash and stock also help fund your client‘s day-to-day needs, and it is likely that a cash or stock gift will be smaller and have less impact on a charity and on your client‘s overall financial plan than a planned gift. Planned gifts allow your client to create a meaningful legacy and satisfy personal, financial and estate planning goals.
By limiting gifts to just cash or stock, your client is unknowingly limiting her philanthropic dreams. It‘s true that planned gifts require more thought and planning than cash gifts, but without them, your client is missing the opportunity to realize tax benefits and make an important, significant difference in the lives of others.
There are ways to introduce these options that will not make your clients nervous. In fact, advisors who are able to present many attractive options in a knowledgeable manner will enhance their image in the eyes of their clients.
Planned giving is not simply about giving money away. It is a host of options to enhance your practice and your clients‘ planning that results in benefits to your client and the causes that are most dear to them.
Planned giving can be one of adult life‘s few authentic win-wins!