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Checklist: Planned Giving Checklist

This checklist is a step-by-step guide to ensure your charitable intentions are documented, legally sound, and aligned with your legacy goals.

  • Define the causes or organizations you care about.
  • Determine the impact you want your legacy to achieve.
  • Decide if you want to give during your lifetime, after your death, or both.

  • Assess your assets, including real estate, investments, retirement accounts, and insurance policies.
  • Determine which assets are best suited for charitable giving.
  • Estimate how much you want to allocate to charitable gifts.

  • Bequests: Include charities in your will or trust.
  • Beneficiary Designations: Name charities as beneficiaries for retirement accounts, insurance policies, or bank accounts.
  • Charitable Trusts: Consider charitable remainder trusts or charitable lead trusts.
  • Donor-Advised Funds (DAFs): Set up a fund to manage charitable distributions.
  • Gift Annuities: Provide a lifetime income stream while benefiting a charity.
  • Qualified Charitable Distributions (QCDs): Donate directly from an IRA if you are over 70½.

  • Meet with a qualified attorney to draft or update your estate plan.
  • Consult a financial advisor or tax professional to understand the tax implications of your planned gifts.
  • Engage with the nonprofit’s planned giving officer for guidance on the giving process.

  • Will or Trust: Ensure your will or trust includes clear bequest language.
  • Beneficiary Designations: Complete and submit beneficiary forms for applicable accounts.
  • Letter of Intent: Write a letter outlining your charitable wishes for the organization(s).
  • Gift Agreements: Draft agreements for more complex gifts, such as endowments or gift annuities.

  • Notify the charities of your planned gift.
  • Confirm the organization’s legal name and tax identification number.
  • Discuss any specific restrictions or purposes for your gift.
  • Request acknowledgment or recognition preferences, if applicable.

  • Write a Legacy Statement to express your values and intentions.
  • Prepare a Pledge Agreement if making a multi-year commitment.
  • Complete any Charitable Trust or Gift Annuity agreements as needed.

  • Keep copies of your estate planning documents, beneficiary forms, and planned giving agreements in a secure location.
  • Ensure your executor, attorney, or trusted family member knows where these documents are stored.
  • Store digital copies securely if applicable.

  • Revisit your planned giving arrangements every few years or after major life changes (e.g., marriage, birth, death, change in financial situation).
  • Update beneficiaries, wills, and trusts as needed.
  • Inform charities of any changes to your giving plans.

  • Provide clear instructions on how to distribute charitable gifts.
  • Include contact information for each charity.
  • Detail any final wishes regarding recognition or anonymity.

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