Leaving a gift to a nonprofit organization in your estate plan is a meaningful way to support a cause that you care about. Whether you’re passionate about education, animal welfare, environmental conservation, local community programs, or something else, your estate plan can help your impact live on for years to come.
How does a legacy gift work?
A legacy gift—also called a planned gift—is a donation you choose to make through your estate plan. Instead of giving during your lifetime, you include instructions in your Will or Trust that direct a portion of your assets to a nonprofit organization.
After your passing, your Executor or Trustee will distribute those assets according to your wishes, ensuring your chosen nonprofit receives the intended gift.
What does “by bequest” mean?
Giving “by bequest” simply means leaving a gift through your Will or Trust. A bequest is the legal act of giving assets—such as money, property, or investments—to a person or organization through your estate plan.
When you choose to leave a legacy gift to a nonprofit, that donation is considered a charitable bequest.
What is the difference between planned giving and legacy giving?
Planned giving and legacy giving refer to the same concept. Both describe a donor’s decision to make a charitable contribution through their estate plan, typically after their lifetime.
So whether you hear the term “legacy gift” or “planned gift,” it’s describing the same process of supporting a cause you care about through your Will or Trust.
Is a bequest the same as a beneficiary?
Not quite — here’s the difference:
Bequest: The gift being made through your estate plan.
Beneficiary: The recipient of that gift.
When you leave a charitable bequest, the nonprofit organization you name becomes the beneficiary of that donation.
What is philanthropic planning?
Philanthropic planning is a thoughtful, big-picture approach to charitable giving. It often includes:
Planning how to maximize the long-term impact of your gifts
Considering potential tax advantages
Choosing organizations that align with your personal values
Coordinating donations across your Will, Trust, retirement accounts, or other assets
It’s all about ensuring that your charitable legacy reflects what matters most to you.
Need help adding a nonprofit to your estate plan?
We’re always here to help! If you have questions about naming a nonprofit as a beneficiary or how legacy gifting works within our product, feel free to reach out to our Member Support team anytime.