There is a lot of talk in the air about estate planning, and about charitable planning. Is there a way to navigate through the flood of information? Yes. Certain basic ideas should guide any discussion of estate planning and charitable gifting. Consider the following twelve.
1. You must take the initiative, begin the process, and see it through.
2. Plan before a medical crisis makes planning impossible.
3. You do not have to be wealthy to justify common sense planning, including the use of trusts.
4. Your estate planning can reflect your values, your beliefs, your world view and your goals.
5. Your estate plan can further your own values, beliefs, world view and goals after you have passed away.
6. Your plan can provide for your spouse and other loved ones as needed.
7. Your estate plan can include charitable gifts on terms you specify.
8. Your plan can keep you in control of your affairs during your lifetime.
9. Your plan can keep you in control of your affairs after you pass away.
10. You can avoid Probate Court proceedings during your lifetime and after you pass away.
11. You can reduce or eliminate estate taxes.
12. If you do not plan for yourself, your state government has a plan for you. If you have taken no action, you have left your affairs in the hands of the legislature and the courts.
Charitable giving to causes you believe worthy of your support will occur only when and if you take steps to make it happen. You will recognize the personal and financial benefits of estate planning, of charitable planning, only when you have properly planned your affairs, in writing.
Don't delay. Plan today. Call for more information. Call for a visit to discuss your personal interest in common sense planning that furthers your values. (336) 272-7102, extension 223.
This discussion of basic estate planning concepts is not legal, tax or financial advice and is provided for educational purposes only. Legal, tax or financial questions should be directed to your professional advisors for discussion in context with your personal situation.
Office of Planned Giving
Greensboro College
815 West Market Street
Greensboro, North Carolina 27401-1875
336-272-7102, extension 223
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