By LouAnn Schulfer, AWMA®, AIF®
Accredited Wealth Management AdvisorSM
Accredited Investment Fiduciary®
Like so many others in our great community, I’ve been an active volunteer all of my adult life for various causes that are dear to my heart. I am currently the President of the Pacelli Education Foundation and as such, encourage others to remember the organizations and causes that are near and dear to them.
Sometimes the hard part about making a donation is that we don’t know how long we will need our money to last or what our future holds. At the same time, we may feel torn because our hearts feel the need to give back to the causes that have been so impactful to our lives. You can solve for this by including organizations in your planning documents such as wills or trusts. While you can’t take “it” with you, you can leave a portion of what is left to the causes that you hold dear in your heart. Some simple strategies can also include designating a specific amount of money to a charity upon your passing. You may also include an organization as partial or full beneficiary on investment accounts, IRAs or life insurance. This way, you can use the asset to your fullest need while on this great earth AND what you no longer need can be left to enrich others’ lives the way yours had been enhanced. As long as a document is revocable or a beneficiary designation is not made as irrevocable, you can amend your designations at any time.
We build strong individuals, families and communities through our contribution to others. You can leave both your mark through volunteering and giving as well as your legacy by remembering organizations in your final wishes and plans.
Securities and advisory services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.