A LEGACY OF LOVE
3 Ways to Include Charities in Your Estate Plan
Leaving a charitable legacy is a wonderful way to make a difference in the world, and you don’t have to be a millionaire to do it. What’s important is leaving a lasting impact on a cause you care about. This kind of giving can be included in your estate plan, which means you can be generous without putting your immediate financial needs at risk.
You can donate to as many charities as you want, but specify how much you’d like to leave each one. Designating Beneficiaries on Investment Accounts Another option is to name a charity as the beneficiary of your retirement account, like an IRA or 401(k). When you do this, the money in the account will be given to the charity after you pass away. And if the charity is a 501(c)(3), they won’t have to pay any taxes on the money they receive.
So, if you want to positively impact the world with your legacy, consider making a charitable bequest part of your plan in any of the following ways. Listing Charities in Your Will or Trust If you want to donate to a charity after you pass, you can include them in your will or trust. You can give them money, investments, a house, or things like a car or furniture. Just make sure you clearly name the organization you want to donate to, using the charity’s full legal name and taxpayer number, which can usually be found on their website.
Another way to donate is to name a charity as a “transfer on death” or “paid on death” beneficiary for your bank account. This means the money in the account will go to the charity when you die. Donor-Advised Funds A donor-advised fund is another great way to give money to charitable organizations. It works like an investment account where you can put money aside for charity and choose which charities you want to support. You can also name a donor-advised fund account as a beneficiary in your will, meaning that after you pass away, the money will be given to the chosen charities. It’s a great way to support causes you care about and leave a lasting impact!
TAKE A BREAK
Baked Salmon With Garlic and Lemon
INGREDIENTS • 2 lbs salmon fillets • 4 cloves garlic, minced • Juice of 2 lemons • 2 tbsp olive oil • 1 tsp dried oregano • 1 tsp dried thyme • Salt and pepper, to taste
DIRECTIONS 1. Preheat oven to 375 F. 2. Line a baking dish with parchment paper. Place the salmon fillets on the baking dish. 3. In a small bowl, mix together the garlic, lemon juice, olive oil, oregano, thyme, salt, and pepper. Pour the mixture over the salmon. 4. Bake for 15–20 minutes or until the salmon is cooked through. Serve and enjoy!
BOOTS CANDLES CARNATION FURNACE
INSULATE JANUS OPPOSITE RESOLUTION SKATING SWEATER
GARNET HOCKEY
3
609-580-1044
Pro • NewsletterPro.com
Made with FlippingBook Ebook Creator