Helping your Favorite Charity Pawleys-Style

Here in Pawleys Island, we like to focus on the simple things.  Charitable giving is a powerful way to support your favorite causes, it does not have to be complex, and it definitely isn’t just for the ultra-wealthy.  It is a very personal decision, and many people want to make sure their families are provided for first.  But, here are some basic ways you can help some of your favorite 501c3 organizations (oh, be sure to give me or your financial professional, your accountant, and lawyer a call to structure things properly for your unique situation):

1.  Wills/Trusts – You can provide for specific gifts in a basic will or trust document.

2.  Beneficiary Designations – You can use the beneficiary designations on qualified retirement plans such as IRA’s, 401(k)’s, life insurance policies, and annuity contracts.

3.  Transfer on Death Accounts – OK, it is not the most delicate term, but many banks and brokerage firms allow beneficiary designations for a nominal fee on savings and investment accounts.

The nice thing about the above listed items is that they are revocable, so if your circumstances change you can make the necessary adjustments to your planned gift.  I like to focus on the basics, and often simple steps can make a big difference in your situation and the execution of your wishes.  Start with the above, and we’ll talk more again soon about more complex planned-giving strategies so you can make sure your hard-earned and well-invested money is directed to support your passions.

© 2013 Pawleys Investment Advisors, LLC. All rights reserved.

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