Oftentimes, an estate donor is well served to have team of professionals carrying out their wishes. When estate attorneys, financial planners and charity planned giving professionals work together to understand donor intent, each person can play their role in ensuring no ambiguity exists that could become a cause of concern when the gift is realized.
The Leukemia & Lymphoma Society (LLS) has estate planning professionals on staff who regularly engage with a donor’s team of professionals to work cohesively for the donor. For instance, in the simplest terms, an estate attorney may develop the legally binding document, a financial planner may consider tax consequences, and the charity’s professionals can help with gift restrictions, if desired.
If an annual revenue stream is desired, the charity can create “What if” scenarios that the donor can take to their financial planner in helping to make the right choice between, for instance, a gift annuity or a charitable trust.
Likewise, it is imperative that the intent of the gift has clarity in its language, and that the language is neither too broad nor too narrow to be fulfilled. Providing language that the donor can take to their estate attorney will ensure a smooth funding process. While estate plans are being drafted, that is the best time to consider making the gift in honor or in memory of a loved one; the charity’s professionals can help bring this to fruition by having your client enroll in our Legacy Circle.
Most importantly, with allied professsionals’ engaged, LLS can help the donor to identify the impact s/he would like to make, and then translate that impact into the language that makes it happen.
If you have any questions or need more information, please contact Lisa Locher, manager of estate planning at 888-773-9958 or firstname.lastname@example.org.
To read more about Wills, Annuities & Planned Gifts, please access the links below.