The Healing Effect of Charitable Giving in Your Will or Trust
Did you know 6 out of 10 US households donate to charity every year? Many of us wonder how we can help impact the organizations that mean the most to us and to our communities. That may mean giving of our time, such as doing a house build with Habitat for Humanity. It may mean donating our talent and using our knowledge of social media to help with increase awareness of the mission. Or it may mean reaching into our pocketbook and donating funds to keep the organization running and the mission strong.
We find so many people in our community have the hearts of givers. They just don’t always know the best way to give. One of the easiest ways to give is by including the charitable organization in your will or trust. We find this not only benefits the organization, but also your loved ones.
Losing a family member is hard enough. Often, our loved ones are looking for “some good” to come out of the loss. Many find it rewarding to be able to give to a charitable organization that mom or dad supported throughout their lifetime. It just feels good and can be an amazing way for your family to honor your legacy. For many, the experience also helps them on their path of healing.
While donating through your will or trust is the simplest way to give, it is not the only way to give. If you are looking at giving, it may be worth a meeting with your estate planning attorney and financial advisor to help you maximize your gifting. Certain ways of gifting can have substantial tax benefits to you, which allow you to give more and still keep more. It doesn’t have to be complicated, but like anything else in life, having a plan will help you leave a greater impact.
If you have the spirit of a giver and want to discuss adding a charitable donation to your plan, now or at your death, give us a call today at 605-777-1772. We help make it easy for you to support your community.
Harris Law & Co. actively supports its community and many charitable organizations. Our firm founder, Lindsay M. Harris, is the Chairman of the Board of Directors for Habitat for Humanity of Greater Sioux Falls. Our Director of Operations, Nikki Blue, sits on the Funding Committee for Habitat as well. We also support the Banquet, Almost Home Canine Rescue, the Sioux Falls Humane Society, and Feeding South Dakota. We look forward to benefiting more organizations in our community that make Sioux Falls and South Dakota a great place to live.
*This blog is for general informational purposes and is not intended to give legal advice. Please consult with an attorney about your situation.