The Myths of Planned Giving

Article originally published by the Cumberland Community Foundation and is used by permission.

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The Myths of Planned Giving

If you hear the words “planned giving” and think it’s only for older people or those with great wealth—you’re wrong. Planned giving is one of the easiest ways for you to support your favorite charitable organizations in the future without sacrificing income today.

Check out the following five common myths and the truths behind them:

Myth #1—Planned gifts are too complicated and confusing.
Truth #1—There are many types of planned gifts—most are simple and affordable, like a gift in your will or living trust. You just need to find the one that best fulfills your goals. Simply contact Mary Holmes at 910-483-4449 x103 or mary@cumberlandcf.org to discover the gift that works for you.

Myth #2—My estate has to be large to make an impact.
Truth #2—By including Cumberland Community Foundation in your estate plan for any amount, you make a lasting impact and a tremendous difference. One option is to designate a percentage of your estate.

Myth #3—I’m too young to think about making a will.
Truth #3—Planning your estate is an important step at any stage of your life. A simple meeting with an estate planning attorney can help you ensure that your intentions are carried out, and it can help establish a plan to receive the best tax benefits for your assets.

Myth #4—Charitable giving’s main benefit is to reduce your tax burden.
Truth #4—Research shows that 65 percent of people who donate to nonprofits do so because helping others makes them feel good.*
*2015 NMI Healthy Aging Database®

Myth #5—A do-it-yourself will saves you money.
Truth #5—A DIY will doesn't provide the expert legal advice you need to properly plan your estate. Work with an estate planning attorney and rest assured that his or her knowledge will save you money and hassle for your loved ones.

Want to Know More About Planned Giving?

Contact Mary Holmes at 910-483-4449 x103 or mary@cumberlandcf.org to learn more about charitable giving solutions for you or to let us know if you have any questions.

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