What is a Legacy Gift?
Legacy giving, sometimes generally referred to as “planned giving,” is a donation made by an individual through a will or other formal designation. Legacy gifts are typically prepared with a financial planner and are meant to reflect the values and desires of the donor. As the name suggests, most donors want to leave a legacy or memory of their life through their posthumous giving.
In most cases, a legacy gift is made upon someone’s death, but not always. Legacy giving can take a number of forms, including recurring donations that begin while the donor is alive and continue after they’re deceased. And legacy gifts don’t have to be monetary, either. They can include material goods, property, stocks—anything that’s of value to the beneficiary.
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