Next Avenue: Leave a legacy: Use planned giving to control wealth now and give to charity after you’re gone

by | Sep 14, 2023 | Stock Market

This article is reprinted by permission from For those with philanthropic interests, charitable giving can be beneficial to the charity and to you as the donor. In today’s tenuous world, everywhere we turn in our country, a fire, flood, landslide or other disaster is leaving families homeless. Youth are avoiding higher education because of the cost. Disease is breaking apart families. Houses of worship are facing financial straits. Needs seem endless.

Making contributions everywhere is impossible, but did you know that with a planned giving strategy you can donate beyond your lifetime to causes that matter most to you? People who want to give to charity but fear running out of money have options. If you are resisting giving now because you worry about needing cash, planned giving is a way to act on your interests. Planned giving can fulfill your wishes after your death while potentially receiving benefits during your lifetime — and you can still leave money to family or friends. What if you do not feel you have the cash to donate, even post-death? You are not alone — 93% of American wealth is held in noncash assets. These types of assets include retirement investments, real estate, life insurance and privately held stock. With some well-informed planning, however, these assets can be donated to a charity, while possibly gen …

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