There are many helpful and creative ways to make a planned gift. Here are the most important ones, according to Renard J. Kolasa, Esq., of Couzens, Lansky:1
- Outright gifts, particularly appreciated securities.
- Gifts at death via Will or Trust – perhaps the most important source of gifts other than outright cash gifts during life; should be part of an overall estate plan including trust funding, powers of attorney, living wills, etc.
- Bank Accounts in Trust (Totten Trust).
- Gifts of life insurance.
- Bargain Sales.
- Gifts of Retirement Funds, particularly naming charities as contingent beneficiaries.
- Charitable Gift Annuities.
- Pooled Income Funds.
- Charitable Remainder Trusts.
- Charitable Lead Trusts.
- Gifts of Real Estate with a Retained Life Interest.
- Private Foundations.
- Donor directed fund or “e-fund.”
- Donor advised fund.
- Gift of Qualified Conservation Easements.
- Gifts of Qualified Appreciated Inventory.
- Interest free loans.
When you meet with your planned-giving professional, being able to ask about these options with your personal goals in mind will help you sort out what is best for your unique situation.
1 – Presented at the 2011 United Methodist Planned Giving School.