What is Planned Giving?
Planned giving refers to the process of donors committing to give planned gifts to nonprofit organizations. Planned gifts are charitable contributions that are part of a donor’s financial or estate plans and are typically given to nonprofits once the donor passes away.
Who is this for?
Everyone should make a will or living trust, regardless of wealth. Having a plan in place ensures that your wishes are known and saves your loved ones the stress and cost of intestate probate proceedings.
Do I need to make a will or living trust?
Trusts and wills perform a similar function: they allow you to distribute your assets to the people you want to have them after you pass. Legally, they do this in different ways. There are several differences between trusts and wills, but three big ones are:
- Assets in a trust don’t have to go through the probate process, but wills do.
- Trust proceedings are private, while will proceedings are not.
- Trusts generally require more maintenance than wills.
What can I do with a will?
With a valid will or trust, you can choose who gets your property, name guardians for your children, provide a home for your pets, and more. It only takes 20 minutes, and you can update your documents later if your plans change. This service is offered at no charge through the Church of the Nazarene Foundation.
What are the benefits of making a planned gift to Eastern Nazarene College?
- Planned giving allows donors to leave a legacy.
- Donors can decide how their planned gifts are used.
- Planned gifts can come with tax breaks.