Individual Philanthropy
An Estate Donation refers to the act of giving property, assets, or financial resources from your estate to GGI. This type of donation is often part of an individual's estate planning and can be used to leave a legacy.
An Estate Donation refers to the act of giving property, assets, or financial resources from your estate to GGI. This type of donation is often part of an individual's estate planning and can be used to leave a legacy. The donation can come from various assets, including:
-
Real estate (such as homes or land)
-
Stocks, bonds, and other securities
-
Personal property (e.g., art, jewelry, or collections)
-
Cash or liquid assets
Estate donations are typically made through wills, trusts, or beneficiary designations, and they may be structured in different ways. Some common types of estate donations include:
-
Bequests: A bequest is a gift given through a will. The donor specifies in their will that certain assets or portions of their estate should go to GGI after their death.
-
Charitable Trusts: Donors may set up charitable remainder trusts (CRT) or charitable lead trusts (CLT), which distribute income to GGI for a specific period or allow GGI to receive the principal of the trust after a donor's death.
-
Life Insurance Policies: A donor might choose to name GGI as the beneficiary of their life insurance policy, making it a part of their estate donation.
-
Retirement Accounts: Naming GGI as the beneficiary of a retirement account (e.g., 401(k) or IRA) can allow a donor to make a charitable gift after death.
Estate donations can provide several benefits for the donor's estate, including tax deductions, helping to reduce estate taxes, and leaving a positive impact for GGI and its causes.
For more details about how to set up an estate donation or explore the tax implications please discuss with your Estate Planning Attorney.
Reach out to your company’s personnel department to explore what options may be available.