What's my next step?

First, decide what charities are meaningful to you and the legacy you would like to leave. Then decide how to do it. As the need for help arises, there are a variety of professionals who can assist you in deciding the best way to make your gift and in implementing your plans.

Who can help me?

Lawyers, accountants, financial planners, and insurance professionals all can help you make your gift. The charities you wish to support may also be able to assist you.

Some gifts do not require professional help to complete. Other gifts do. Regardless of whether professional help is required, you are encouraged to consult with advisors to insure that your charitable gift plans are consistent with your other estate plans and are properly implemented.

Do I tell the charity of my gift plans?

Charities often like to be aware of your plans so they can thank you for your generosity. They also may be able to offer suggestions about how your gift can have an impact that is meaningful to you. However, the decision to inform a charity of your gift plans ultimately is a personal decision for you to make according to your preferences.

How important is it to know the exact name of a charity I want to support?

It can be very important. A number of charities have similar names. If you do not state the exact name of the charity you want to support, it possibly might not receive the gift you intended.

Getting the proper name is easy. Simply call the charity you wish to support. Even if you wish to remain anonymous, they will gladly share the name you should use in your will, trust, or beneficiary designation form.

Do I have to make a completely new Will?

No. To make a legacy gift, you can have a "codicil" prepared - an addition to an existing Will. A codicil can be cheaper and easier than a completely new Will. A lawyer can help you prepare a valid codicil.

You can also make a legacy gift by changing the beneficiary designation of a retirement account or life insurance policy. No professional help is typically needed to make this type of gift, although you are always encouraged to discuss with advisors the effect your gift may have on other plans.