What is Legacy Giving?
Legacy Giving is a way to invest in your community long after you’re gone. Creating a will is a smart and easy way to protect your family and leave a legacy.
But that’s not all your will can do.
Did you know? You can make a significant impact in your community by supporting Habitat Tucson, your favorite organization or church just by adding Charitable Bequest.
A charitable bequest offers these main benefits:
• Simplicity − Just a few sentences in your will or trust are all that is needed. The official language for Habitat for Humanity Tucson is: “I, [name], of [city, state, ZIP], give, devise and bequeath to Habitat for Humanity Tucson [written amount or percentage of the estate or description of property] for its unrestricted use and purpose.”
Even better, make the bequest an endowment gift that will provide income every year forever to our organization.
For example, imagine you have been giving $1000 per year for many years, intend to continue to do so and would like to be able to continue to support our organization with the same $1000 per year after your lifetime.
A legacy gift of $20,000 into an endowment bequest with a 5% written annual spending policy will provide Habitat Tucson with $1000 a year forever! This really easy to do and there are some added benefits to you and your family.
• Flexibility − Because you are not actually making a gift until after your lifetime, you can change your mind at any time. You can also choose to split your assets among other charities, and of course, your family.
• Versatility − You can structure the bequest to leave a specific item or amount of money. You may also make the gift contingent on certain events, or leave a percentage of your estate to us.
• Tax Relief − If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift’s full value.
How It Works
To make a charitable bequest, you need a current will or revocable living trust. Your gift can be made as a percentage of your estate. Alternatively, you can make a specific bequest by giving a specified amount of cash, securities or property. After your lifetime, Habitat Tucson or your named organization will receive your gift.
When planning a future gift, it’s sometimes difficult to determine what size donation will make sense. Emergencies happen, and you need to make sure your family is financially taken care of first. Including a bequest of a percentage of your estate ensures that your gift will remain proportionate no matter if the value changes over the years.
A charitable bequest costs nothing now and can benefit the generations to come. Talk to your financial planner as your begin estate planning to find out more today.
You can also leave real estate, land, stocks, IRAs — even your furniture to Habitat for Humanity Tucson.
Do not hesitate to ask any questions you may have on how to make Habitat Tucson a part of your legacy. Email info@habitattucson.org or call (520) 326-1217 for more information.
