The term planned gifts refers to specific strategies that (in most cases) benefit charity at some point in the future while offering immediate benefits to the donor.
The gift of a paid-up life insurance policy is a good example. By designating a qualified charity as owner and beneficiary of such a policy, you will receive a charitable income tax deduction that, in most cases, is equal to your cost basis in the policy.
There are a variety of planned gift options that are written into tax code. In some cases, a planned gift can provide life-time income to you as a donor while providing a benefit to a ministry and/or your family. Some plans are designed to allow you to plan when the gift is accessible to your family or the charity after your passing. (This is particularly helpful if you want to make certain your heirs have reached an age when these gifts can be used effectively.)
So how do you explore this area of planned giving? This site will provide you with illustrations and information about some of those gift options. First, we invite you to read it to gain an understanding of the variety of possibilities.
Next, make a list of your assets-those things God has entrusted to you. The "My Estate Planner" section is a helpful tool.
Begin to pray about God's purposes for your assets. In fact, we have provided a section on "Achieving God's Purposes for your Life" which may be a useful guide.
Then, meet with a qualified estate planning professional. This should be a person who, first, listens to the goals you have identified and then presents planned giving options that may help you efficiently achieve those goals. You will find a section in this site that can introduce you to a qualified estate planner in your area.