Planned Giving - Charitable Legacy Gifts
How does it work?
- You leave a gift of a specific dollar amount, a percentage of your estate or the residue of your estate.
- If you already have a trust or will in place, your attorney can prepare a simple amendment or codicil to provide for your charitable gift.
- There is no limit on the amount that can be provided from your estate for a charitable gift.
- Your charitable gift may include cash, securities or other property.
- Your estate may receive an estate tax deduction for your charitable gift.
- You may establish a testamentary charitable remainder trust or charitable gift annuity through your trust or will that provides payments to one or more designated beneficiaries, with the remainder going to Project Love® upon their deaths.
- You direct Project Love® regarding allocation of your gift; for example, to create or augment an unrestricted endowment fund or a special purpose fund.
What are the benefits?
- You invest in the future of young people in our community.
- By living charitably, you perpetuate your beliefs and become a role model for future generations.
- Here is an example of typical gift language in a trust or a will that you may wish to share with your legal counsel:
To make a legacy gift to Project Love®:
I give $________ (or specified property) to Project Love® Remember the Children Foundation, Cleveland, Ohio.
For additional information contact Mimi Plevin-Foust at Project Love at (216) 593-0020, ext. 107 or e-mail email@example.com. All inquires are confidential.
This material is presented for informative purposes only and should not be construed as legal, tax or financial advice. When considering gift planning strategies, you should always consult with your own legal and tax advisors.