A legacy gift is any significant gift, made in lifetime or after passing as part of a donor’s overall financial or estate planning.
Thus, legacy giving enables philanthropic individuals to make a more significant gift than they could make from ordinary income. Legacy giving is not just for those in the top tax bracket, it is a unique way to give more. Everyone who leaves a legacy gift will be providing more than they usually would during a major fundraising event. Every person of every background can endow a donation, and this makes a big difference.
It is essential to bequeath a legacy that ennobles a donor’s values, passions, and interests. Everyone wants to be remembered for the contributions they made in the name of bettering the world. Providing for the future of thousands of lives is a dignifying act that anybody and everybody would be proud of. Legacy donors directly grant life to battered and forgotten dogs.
Planned giving is the best way to make the most meaningful difference possible. While regular fundraisers and major drives keep our organization operational, it is legacy gifts that allow us to start and complete notable projects. We were able to purchase our first property with funds from a legacy gift, which allowed us to save a thousand lives in a single year. We also established the Seniors for Seniors program with the help of a legacy gift. Now thriving, Texas Chihuahua Rescue is known internationally for how many medically needy and senior dogs we take in. These planned gifts allow for more to be done in the world, to create a real impact.
Legacy giving is not a complicated endeavor, either. The most common vehicles are:
- Bequests in a will or trust
- Beneficiary designations in a retirement fund [e.g., IRA, 401(k)]
- Beneficiary designation in a life insurance policy
- An outright gift of life insurance cash value [e.g., policy that’s no longer needed]
Most of these simply require donors to fill out a form, which they can obtain from their financial institution or insurance company.
Legacy gifts are foundational for the future of this rescue, and we hope that this has informed, enlightened, and inspired our loyal supporters to inquire about legacy giving.