Legacy is For Everyone
No matter your age or financial position, Legacy offers an opportunity to make a difference on a cause you care about.
You don’t need to be wealthy or approaching old age to start a Legacy Plan. In fact, almost anyone can make Legacy Gift.
One of the big misconceptions about Legacy Giving is that you only wealthy philanthropists create Legacy Plans and make large gifts. While it is true that some legacy gifts are large, that is more the exception more than the rule. In fact, research has consistently shown that just the opposite to be true. In the U.S., the estimated average charitable bequest is between $35,000 and $70,000*.
A second common misconception is that Legacy Gifts are made predominantly by older donors in the 60’s, 70’s, and 80’s. While that was true to some extent in the past, legacy gift commitments are now commonly made from individuals in their 40’s and 50’s.
Another commonly misunderstanding about Legacy is that the process of making a Legacy gift is complex and time consuming. But making a Legacy gift can be as simple as putting a short commitment in your will that names a specific nonprofit organization as the beneficiary. While most donors do get help from their attorneys, the process is still relatively straight forward.
It’s also important to know that Legacy Gifts are fully revocable and can be given as a percentage of the value your estate at death – not a specific dollar amount. First, that means that you are free to make changes to your gift commitment at any time should circumstances change. As well, if your gift is designated as a percentage of your estate, you don’t need to know how much you’ll have to specify a specific dollar value.
As you consider your philanthropic giving in the future, keep in mind that Legacy Giving truly is for everyone.
In the U.S., the estimated average charitable bequest is between $35,000 and $70,000.