Step 5: Plan for the Future
You should take the time to thoughtfully plan how you wish to distribute your estate after your lifetime.
The Importance of an Estate Plan
An estate plan can begin with the simplicity of writing a will, but it can also involve trusts, life insurance policies and retirement accounts, guardians for minor children, providing lifetime income for you or for others, minimizing taxes and estate costs or passing on business interests and providing for your charitable interests.
A good estate plan will help you prepare for the future and manage the present. It will be of great benefit to you and your family.
Typically, an estate plan is not something you do on your own. Guidance from professionals, such as an attorney and financial planner, can help you make critical decisions as you navigate how to transfer your estate after your lifetime. They can help you ensure your estate will be distributed as you wish and that your charitable legacy continues.
Taking Care of the Causes You Care About
You’ve been generous to your favorite nonprofits for many years, and they have come to rely on your support. What happens to these nonprofits after you are gone? How do they replace your annual support?
It is simple to continue your generosity through an estate plan. Let us help you design a plan that will benefit your favorite charities while still ensuring that you and your family needs are met.
You can ensure your favorite charities will receive support after your lifetime and in perpetuity through endowed funds.
Staff members of the Greater Cincinnati Foundation have many tools to help you discern the best plan for you. Contact a member of our Giving Strategies Team or call 513-241-2880.
Partner with us on your family's charitable giving
<< Previous Step: Create Your Philanthropic Mission Statement