But isn't it only the wealthy that have an estate?
Estate is simply a word used to describe any property, money or personal belongings that you may have at the time of your death.  Almost all people leave an estate when they die, regardless of the amount of wealth.  Anyone can arrange to leave a charitable gift from their estate when they pass away.  Doing so at this time allows for financial independence during lifetime, and also the opportunity to coordinate gifting to loved ones with your philanthropy.

Getting Started
If leaving a legacy is of interest to you, take the next step.

  1. Think about to whom and why you'd like to leave a gift.  Maybe you or someone you know has been helped by one or more organizations.  Maybe you're an active volunteer or believer in the mission of the charities.  You might want to leave a gift in memory of a loved one or for a specific use.
  2. If you need more help or you need to know more about particular organizations, do some investigating before leaving a gift.  Call the non-profit groups of your choice.  They can better help you understand what they do and what opportunities are available for giving.
  3. Ask your estate planning advisers to assist you in seeking out the best way to maximize your philanthropy as part of your total estate plan.  You can ensure your own financial independence, secure the portion you wish for your family, and at the same time, ensure that your legacy remains in your community in perpetuity.
Your Gift is a Lasting Tribute
Charitable, non-profit groups play a vital role in the North Central Ohio area extending help in many ways from giving seniors a hot meal to linking up children with good role models, from helping children get that extra special start at birth to adults completing their education for job requirements.

Help may also come in the form of fighting a terrible disease, changing a life through a special educational experience, assistance in an important spiritual journey, or bringing beauty to our world through the arts.  Our history may have been preserved for posterity, the community made more livable because of important facilities, or animals may have received humane care through generosity and thoughtful assistance.

The truth is that these special organizations need financial assistance from people like you in order to continue their good deeds.

When you Leave a Legacy, you make sure that help continues to be there for friends, neighbors and those who need it.

Leave a Legacy
North Central Ohio is a very caring place to live.  Many people volunteer regularly and give financially to the non-profit groups of their choice.  When they're gone, their support is sorely missed.

By leaving a legacy through a gift in your will, trust or other part of your estate plan, you can continue to help organizations that are making an important difference in North Central Ohio.

How to Leave a Legacy

  1. Prepare a will or living trust as a part of your overall estate plan.  Over 50% of those who pass away in Ohio do not have one they have selected; they automatically get one that the State has made for them.  Most deceased probably would not like those provisions that are made.  Without your own will or trust, you lose control of the possessions you have worked a lifetime to acquire.
  2. Leave a gift in your estate plan for the charitable organizations which made a difference in you or your family's life.  Less than 3% of all wills settled in Ohio contain a charitable provision.  Imagine the positive impact on our community if everyone made a donation to a favorite non-profit group, even if modestly.
  3. Leave a specific dollar amount or a percentage of the assets in your estate plan to each of your favorite charities.  The provision can be part of a new will or trust, or added as a codicil or modification to your current one.
  4. Consider using specific assets for your charitable gift.  These can include, but aren't limited to:  Stocks, bonds, savings bonds, CD's, your home, real estate, vehicles, art and jewelry.  Such gifts may provide even special tax savings.
  5. Name your favorite charities as the beneficiaries of your IRA or retirement plan.  This plan often has very attractive income tax savings potential for even smaller gifts.  It is important to be sure proper steps are taken to preserve certain planning strategies if distributions continue for family members.
  6. Purchase a new or assign a current life insurance policy to your favorite charities.  Both income and estate tax benefits can be possible.
  7. Consider life income agreements, such as a charitable gift annuity or charitable remainder trust if you have appreciated assets and need additional income.  This type of gift is one you can begin to enjoy while you are living.
  8. Remember deceased loved ones with memorial gifts to charity.  This type of gifting can come from either the deceased's estate or your own.
Mission
Leave a Legacy, an initiative of the North Central Ohio Planned Giving Council, promotes interest in charitable giving through thoughtful estate planning.

For further information, call the North Central Ohio Planned Giving Council office directly (419) 289-5072 or email us at aclark2@ashland.edu.

When you Leave a Legacy, you improve our community's quality of life.


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