Legacy Giving and Why This Is Important For Charities
07 Dec 2020 by Libby Mahoney
- Funding Opportunities
- Did you know...?
In Charity Digital News article they discuss the basics of legacy giving and explain why charities are paying it increasing attention. Unsurprisingly they suggest that Charities are now focusing more on legacy giving and the benefits of attracting funding into an organisation using this method, with suggested bequeaths on average of £25,000 being left by individuals.
So what is legacy giving?
Legacy giving is a planned donation that designates a part of an individual’s estate to a chosen charity. Legacy gifts are most often made through wills and trusts, by denoting the organisation that should receive the gift. Some people also use certain financial instruments, such as pooled income funds and annuities.
The process is fairly easy to understand with the individual only needing to list the particular charity as the beneficiary of a bank statement or a pension account. The donation is made once the will is enacted, allowing the donor to create a lasting philanthropic legacy – hence the name.
To read Charity Digital News article in full click here.
Source: Charity Digital News