Leaving a Legacy of Giving 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. town, you may want to gift it to a preservation society so that it stays properly maintained. Decide How to Give There are different ways to Making Charity a Part of Your Estate Plan
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.
There are many things park owners can do to directly improve the value of their property — simple landscaping and signage can give old communities a much-needed face-lift. But sometimes change needs to go beyond the cosmetic. By playing an active, supportive role in your community, you can improve the overall quality of life for your tenants and attract new renters with ease. Here are just a few ways you can lay a strong communal foundation for your park and beyond. Lines of Communication Letting tenants know their voice will be heard when they have concerns is a real win-win. Whether you make yourself available on-site certain days of the week, or use digital tools, like Facebook, to field questions and concerns, you can help renters feel more connected with you and the place they call home. Not only does this lead to more issues being reported early (before they can become costly problems), but it also makes tenants more conscientious. You aren’t some distant landlord; you’re a part of their community whose rules and regulations should be respected. Events Beyond fostering connections between yourself and your tenants, you should also help them feel more connected to one another. Bi-monthly 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. 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. On the other hand, some charities may specialize in specific assets. For example, if your home is considered a historic site within your Building Connections Roads to Great Communities
events like potlucks or community meetings can
take a park from being a disconnected lot full of strangers to a supportive neighborhood. Prospective renters
are sure to appreciate a friendly, welcoming community when considering their options.
Giving Locally Philanthropy is noble in all its forms, but consider donating to causes that can make a difference to your tenants and even the community outside your park. For example, giving resources to the local school district is a great way to directly support families in the area. Live in a region at risk of major weather events like floods or hurricanes? Consider donating canned food, sandbags, and other supplies to renters in need. Building a happy, healthy park can take time. But by working with property managers to set a positive example and showing renters you care, you can expect to be treated in kind. Furthermore, you’ll likely find it easier to attract new tenants who value playing a part in a supportive community.
2 • WWW.MYSUNRISECOMMUNITY.COM
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