ING
GACY OF GIV
LEAVING A LE
MAKING CHARITY A PART OF YOUR ESTATE PLAN
Your estate plan is far more than just a set of documents. It’s a declaration of what you find most important and a road map of the legacy you’d like to leave. Not only does a proper estate plan ensure that your loved ones will be taken care of when you’re gone, but it also allows you to make an impact on the wider world through charitable giving. Many avenues exist for making planned gifts to nonprofits, but here are some of the basics on how to make giving a part of your plan. NAME A CHARITY IN YOUR WILL The most basic way to give to a charity is by naming it in your will. Simply name the charitable organization you wish to support among your beneficiaries, and specify the assets you wish to give. If estate or income taxes are a concern, ensure your chosen organization is a 501(c)(3) nonprofit. These are the charities the IRS deems tax-exempt.
On the other hand, some charities may specialize in specific assets. For example, if your home is considered a historic site within your town, you may want to gift it to a preservation society so it stays properly maintained. DECIDE HOW TO GIVE There are different ways to structure a charitable bequest, giving you the flexibility to make sure your estate planning goals are met. If you have a set sum of money or a particular asset you wish to leave to a charity, you can make a specific bequest in your will. However, if you want to ensure your loved one’s needs are met before giving a portion of your estate to charity, you can make what’s known as a residuary gift. With a residuary gift, once debts have been paid off and your other beneficiaries have received their bequests, a specified percentage of your remaining estate will go to a charity of your choice. OTHER AVENUES Depending on your income level and the kinds of assets in your estate, more complex means of making a planned gift may be available to you. Talk to your estate planner to see if creating a charitable trust or establishing a foundation is the right move for you.
MATCH THE ASSETS TO THE CHARITY Almost all charities will accept cash bequests, though it is always a good idea to notify an organization about what you are planning to give. Smaller philanthropies may not accept complex assets, such as stocks or real estate.
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Really, the list is endless! These things also apply to other items built or manufactured here in the U.S., like automobiles, but investment is special. The US of A was built on the back of heavy investment, and here at Heartland, our investment properties continue that long tradition. For me, that comes with a sense of pride, accomplishment, and enthusiasm for what tomorrow will bring — particularly because it’s all made here in the USA! This is something more than an intangible. At the core, it represents a brighter future for you and those you care about. So, the next time you hear “Made in the USA,” remember it’s not just about manufacturing or industry. It’s also about your investment here in the heartland.
these properties are not only located but made in the heartland of the USA! Owning good ol’ US of A investment real estate provides not only the benefits of a good investment but also ... 1. Employment for those who paint, mow lawns, and shovel snow. 2. Shelter or business/entrepreneur working space for those who need it. 3. Tax revenue that supports our infrastructure. 4. Capitalism at its best, where investors can choose whether to invest, how much to invest, how long to commit, etc. 5. Expanded future investment opportunities. 6. The pride of property ownership and investment. 7. The ability to achieve financial goals. 8. Transparent management and reporting with accountability. 9. Fun! Yes, I said fun! 10. High-quality properties with quality U.S. partners and resources!
There’s something I really like about the real estate investments my clients, investment partners, and I get involved in, and it has nothing to do with cash flows, returns, or tax savings. It doesn’t even have to do with building wealth! Although those are all good things that provide nice financial benefits, they’re really just part of a bigger story — a story that has a lot more to do with the colors red, white, and blue. There are “intangibles” attached to every investment you make. These intangibles are basically benefits connected to the investment that don’t have a direct impact on its performance. Indirectly, though, these intangibles can have a huge impact. They affect not only how the investment performs but also how much people like being involved with it.
Proudly providing you investments made in the USA,
–Darin Garman
Our investment real estate properties here in the heartland are a case in point. A big intangible is that
2 DARINGARMAN.COM
Published by The Newsletter Pro • www.TheNewsletterPro.com
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