If supporting nonprofits in your will or trust is important to you, take the next step.
Think about to whom and why you’d like to leave a gift. Maybe you or someone you know has been helped by a particular organization. Maybe you’re an active volunteer or believer in the mission. You might want to leave a gift in memory of a loved one or for a specific use.
If you need more help or you need to know more about a particular organization, do some investigating before leaving a gift. Call the nonprofit group of your choice – you may find some of your valued nonprofit organizations among our members. They can help you better understand what they do and what opportunities are available for giving.
Then contact your professional advisor for help. Your advisor can assist you in maximizing the charitable and long-term benefits of your gift. If you have yet to connect with a professional advisor, please contact the Montana Office of Gift Planning of the Montana Community Foundation (406-541-7407 and info@mtcf.org) and the Western Montana Estate Planning Council (wmepc.org) to explore resources and giving opportunities.
Frequently Asked Questions
Should I have a will?
If you want to be certain the organizations you care about receive a gift after your death, mention them by name in your Will.
If I leave something to charity will my family be left out?
Not if you have provided for them in your Will or trust. Many people set aside a certain dollar amount for charity. Others leave a percentage of their property or the remainder of their assets after providing for their family. A Will or trust allows you to be flexible.
Who can help me arrange for a gift?
If you have a professional you’re working with like a financial planner, lawyer, accountant or insurance agent, please talk with them about leaving a gift. A professional can tell you about the tax benefits of planned gifts. It can also be helpful to talk to someone at the nonprofit you are interested in.
What can I leave to a charity?
All charitable organizations accept money. Gifts of stock and paid life insurance policies also are options. Additional gifts could include a car, house or other property. It can be helpful to discuss your plans with the charity, especially if you plan to leave real or personal property.
Can I leave a gift in memory of a person for a specified purpose?
Yes, this kind of gift can be mentioned in your Will. Remember to be specific that the gift is given in memory of a particular person or for a specific use.
Do I tell the charity I’ve left the gift?
This is up to you. Charities often like to know in advance so they can recognize your generosity. They can also tell you about specific opportunities for giving. Whether you let the organization know of your plans or not, is your decision to make.
Do I have to include my wish to leave a gift to a specific organization in my will?
To be certain that the group receives the gift, you should state your intention in your will. Without a will, you lose control over your belongings after death. Your property and finances are settled according to state laws, whether or not they coincide with family wishes.
Must I have an estate in order to leave a gift?
An estate is simply a word used to describe any property, money or personal belongings that you may have at the time of your death. Most people leave an estate when they die, even though they may not have a great deal of wealth. Anyone can arrange to leave a charitable gift from their estate when they pass away.
How do I leave a gift for an organization that I admire?
You can arrange for a gift several ways, the most common being through a will. Many people set aside a certain dollar amount. Others leave a percentage of their estate, or any assets left over after their family has been provided for. Some people give a charity something like a car or their home. Others leave a paid-up life insurance policy or other financial investment.
