Another area of giving is legacy giving. This is where your donation goes to the charity of your choice after your death. Many people find this works with them better, because it helps them plan for current living expense needs and then donate any leftover assets. Often, they are able to donate more than during their lifetime. Life Insurance, annuities, and retirement assets are often included in these types of legacy gifts. Additionally, real estate can be left to a charity, however, it’s a lot more cumbersome for charities to handle, and often smaller charities won’t accept gifts of real estate for that reason. So how do you decide? Whatever you do, don't give in-the-moment if you’re going to make a rash and quick decision. If an unsolicited plea for funds from a charity with which you’re unfamiliar but their appeal moves you, check to see if any non-profits to which you’re already donating are taking up the same cause. Use familiar charities for a new purpose. However you decide to give, leaving a gift to your favorite charity is truly a way to allow you to continue giving and making your mark even after your death. What a legacy!! So, before you go and open your wallet, make sure that the charity to which you plan to give will use your donation wisely. There are a number of organizations that research charities' financial health and their commitment to transparency and accountability. Sites such as guidestar.org, charitynavigator.org, charitywatch.org, and givewell.org are good places to start if you're looking to start donating to a charity for the first time. They do the legwork of combing through a charity's tax filings and governance documents so you won’t have to. Their findings are straightforward and unbiased. Now a big shout-out to all of you who give through your time, talents, and monetary giving. Charities and non-profits such as PEN and their stakeholders are grateful for you!
Diahanna Vallentine, BCPA Financial Empowerment Lead
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