August is Make-a-Will Month, an opportunity to ensure your legacy helps support the charity causes you care about the most.
We asked our friends at Glenmede to provide their expertise to us about how to incorporate charities into your planning. In this post, you’ll find insights on how to arrange a charity gift from your estate, how to choose a charity, and how to start drafting a will with a free tool.
We are so grateful to Glenmede for their consistent support of our mission through sponsorships, including as Presenting Sponsor for our Live It Up! 2025 annual gala in October.
How to Include a Charity Gift in Your Will
The term “charitable bequest” is used to describe anything you give or leave to charity from your estate through a will or a revocable inter vivos (“living”) trust.
You can arrange to bequeath a gift from your estate in several different ways:
You can set aside a specific dollar amount, leave a percentage of your estate, or leave any assets left over after your family has been provided for.
Some people use a bequest to give a charity something they own, such as a car, home, art or jewelry. Others leave a paid life insurance policy or other financial investments, such as stocks, bonds or CDs. These gifts may provide tax savings.
You can also designate charity as the beneficiary of your life insurance or retirement assets; you can enjoy some flexibility in your charitable giving as well as certain tax advantages. The designated charity will receive the specified assets upon your death, and you retain the ability to update at any time.
How to Choose a Charity for Your Will
Intentionality in giving can advance our most deeply held objectives and maximize impact, in ways that truly reflect who we are and what we value.
- It can advance a specific cause or mission
- We can create a legacy that will live on long after we’re gone
- Pass important values on to the next generation
- Utilize tax and financial advantages
Here are some questions to consider when identifying charitable organizations to name in your will. Discuss them with your loved ones. Write them down and develop your personal mission statement:
Your Values
- What motivates you to give?
- What life experiences have shaped you, the way you look at the world, and motivate you to give?
- What values are the most important to you?
Your Passions
- What are you passionate about?
- Where have you given your time to the past, and why? Is there a common theme among them?
Your Objectives
- What do you hope to achieve through your giving?
- What legacy do you want to leave?
- How much do you want to give, and when?
Info You Need to Designate a Charity in Your Will
Once you’ve identified charities that align with your personal mission statement, you will need the Name, Employee Identification Number (EIN), and Address for the organization.
The organization must be a public charity under Sections 501(c)(3), 170(b)(1)(A), and/or 509(a) of the Internal Revenue Code of 1986, as amended.
This information can be found at Guidestar.org, a database linked to the IRS database for nonprofit organizations.
Get Started with a Free Tool
You can start your will this month by using the FreeWill tool recommended by Glenmede.
This material provides information of possible interest to Glenmede Trust Company clients and friends and is not intended as personalized investment advice. When provided to a client, advice is based on the client’s unique circumstances and may differ substantially from any general recommendations, suggestions or other considerations included in this material. Any opinions, recommendations, expectations or projections herein are based on information available at the time of publication and may change thereafter. Information obtained from third-party sources is assumed to be reliable but may not be independently verified, and the accuracy thereof is not guaranteed. Outcomes (including performance) may differ materially from any expectations and projections noted herein due to various risks and uncertainties. Any reference to risk management or risk control does not imply that risk can be eliminated. All investments have risk. Clients are encouraged to discuss any matter discussed herein with their Glenmede representative.
