80% of planned gifts are made through bequests. Samples of simple language that can be added easily to an already executed will can be found at the Community Foundation’s website HERE.
This sets up an annuity for the donor where the donor gifts an asset to the nonprofit and the nonprofit in return provides an income stream for the life of the donor. After the donor passes away, the nonprofit is the beneficiary of the remainder of the annuity. More information about gift annuities can be found HERE.
“This is an irrevocable trust that pays a specified annual amount to one or more people for a fixed period of years (often the life of the individual). At the end of the term of the trust, the remaining trust assets are distributed to the charity.” – Katherine Swank, J.D. More information on trusts HERE.
An option for people who own real property, they can remain living there, gift the property to your nonprofit for an immediate tax deduction, and, upon their passing, the proceeds from the sale of the property are received by your nonprofit. More information is available HERE.