Legacy planning and gifts
Is your purpose for your money legacy planning for your family or a gift for your favorite charity?
Things to Consider
- Who do you want to benefit? Your children, university or civic purpose?
- When should you make these gifts?
- What impact will my gift have on my personal needs?
- Revocable Trust. You can change the terms and/or beneficiary of your gift.
- Irrevocable trust. Only your trustee can change the terms.
- Charitable Remainder Trust. Provides income to the grantor for a specific period of time and amount with the remainder being transferred to the charity.
- Charitable Foundations. Funds can be provided for community activities, universities and other charitable causes.
- Gift. Simple one-time gift of money to your beneficiary.