Many people think of their family members as beneficiaries when they are
putting their estate plans together, but don’t realize that their
favorite charity can be a beneficiary as well.
There are many ways to give a gift to a charity. Some gifts can begin while
you are alive and continue after you have passed away. Some gifts don’t
start until after you pass away. Some gifts can benefit a family member
for a period of time and then a charity or a charity for a period of time
and then a family member.
Often, for people who do not have children, deciding who to name as a beneficiary
in their estate plan can be a challenge. For example, it isn’t that
nieces and nephews aren’t loved; it is that many times they have
parents who are in a position to make sure they are taken care of so they
don’t need additional bequests from an aunt or an uncle. In these
situations, charitable beneficiaries can be a welcome option and give
you a way to feel like your assets are truly making a difference in the
lives of others.
So when you are putting your estate plan together, don’t hesitate
to remember and include a charity that is near and dear to your heart.
Both your estate planning attorney and the representatives at the charity
itself can help you evaluate the various ways you can leave a gift and
help you design a gift that is just right for you and your estate plan.