What is planned giving?
Planned giving is the process in which a donor or potential donor creates a financial or estate plan in which they formally decide to give something of value to an organization at a future date. Many times, this is a gift that is planned through a will, so that the organization will get the donation at the time of the donor’s passing. The gift could be cash, property, or other assets such as stocks.
Why give through planned giving?
It does not affect one’s assets during their lifetime, as it is only distributed upon the donor’s passing.
How can I make a donation through a bequest/planned giving?
Share this sample language with your estate planning attorney to include your donation in a new will or to amend your existing will using a document called a codicil.
Sample language: “I hereby give the Lake Erie Islands Nature and Wildlife Center, a nonprofit 501c3 organization with a business address of 255 Meechen Road, Put-in-Bay, Ohio 43456, and a tax identification number of 27-5017525, the sum of $_________ [or otherwise describe the gift, assets or percentage] to be used for general purposes.”