Legacy planning and gifts

Is your purpose for your money legacy planning for your family or a gift for your favorite charity?

Things to Consider

• Who do you want to benefit? Your children, university or civic purpose?
• When should you make these gifts?
• What impact will my gift have on my personal needs?

Tools

• Revocable Trust. You can change the terms and/or beneficiary of your gift.
• Irrevocable trust. Only your trustee can change the terms.
• Charitable Remainder Trust. Provides income to the grantor for a specific period of time and amount with the remainder being transferred to the charity.
• Charitable Foundations. Funds can be provided for community activities, universities and other charitable causes.
• Gift. Simple one-time gift of money to your beneficiary.