A charitable gift should identify the correct organization, purpose, asset, timing, backup, and administrator. A will, trust, beneficiary designation, lifetime gift, or split-interest arrangement can produce different control, tax, cost, and administration results.
Verify the recipient and purpose
Use the organization's exact legal name and tax status, then decide whether the gift is unrestricted or limited to a program. Overly narrow restrictions can become impossible; a carefully drafted alternative-purpose provision may preserve intent.
Match the asset to the method
Cash, appreciated securities, retirement assets, real estate, closely held business interests, tangible property, and life insurance can have different valuation, acceptance, tax, and timing issues. Confirm that the charity can accept the proposed asset.
Coordinate family and fiduciary administration
A clear gift reduces conflict and delay.
- Percentage, formula, specific asset, or remainder gift
- Primary and successor charitable recipients
- Acceptance and liquidation requirements
- Appraisal and substantiation records
- Estate-tax and income-tax analysis
- Notice, receipt, and release procedures