What is planned giving?

Planned giving is the process of legally providing for a donation to your favorite charity that will benefit the charity at a future time.

The simplest form of planned giving is to include a provision in your will naming the charity to a share of your assets. This is known as a bequest. You also can name a charity as a beneficiary in a life insurance policy, pension plan, 401(k) or IRA. A planned gift can be a set dollar amount or a percentage of your assets after your family has been provided for.