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Phone: 520.881.9876

Email: mail@pimalibraryfoundation.org

 

Pima Library Foundation

PO Box 13245

Tucson, AZ 85732

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Federal Tax ID: 86-1034492

Planned Giving:  How Much to Leave to Charity?

 

Suppose you want to leave something to your favorite charity upon your death. Should you give the charity a percentage of your estate, or a flat dollar amount?

If you choose the first option, your will or trust might include a provision that says that 10% (to pick a number) will go to your charitable organization of choice. On the other hand, you might leave, say, $10,000 to that charity. If you anticipate having an estate of about $100,000 is there a difference between those two?

 

Yes. In the first instance, if you die with only $40,000 the charity will receive just $4,000 -- and if you win the lottery you might be leaving a much larger amount to the charity. On the other hand, if you designate a flat dollar amount that will usually be distributed first -- so that your $10,000 gift will mean your entire estate if you die with only $8,000.

 

You can choose a combined approach. You might say, for instance, that you leave $10,000 (but not more than 20%) of your estate to charity. That makes sure that your charitable gift remains significant even as your estate shrinks, but protects against accidental disinheritance of your family and friends.
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Robert B. Fleming
Fleming & Curti, PLC
Tucson, Arizona
www.FlemingAndCurti.com