Going on my FaceBook page each evening, I smirk at all of my friends who are dousing themselves with cold buckets of water. The ALS Ice Bucket challenge is doing wonders for the charity – in terms of both money raised and awareness! And I get to laugh at my friends!
The follow-up question is whether the fundraising efforts are sustainable. Will ALS get the necessary funds to continue the search for a cure next year, and the year after that! I hope so.
But ALS, like so many other worthy charities, like American Heart Association, Make-A-Wish and Best Friends Animal Sanctuary, have a two-fold problem that you can help with.
The first is what the Ice Bucket Challenge is attempting to solve – current donations to help with current grants. In all likelihood you are already doing this with your favorite charities. Every little bit helps.
The second is the issue deals with what happens when you pass away. Since the contributions you are making now, in your life, will not continue, your favorite charity will lose some of its support. But it does not have to be that way. You just have to plan for it.
Your estate planning attorney can help craft a plan that can achieve your charitable intent. Whether it is a gift of $1,000 or the creation of a private foundation (like the Bill & Melinda Gates Foundation), or anything in between, your charity does not have miss a beat just because of you passing.
Make an appointment today, and one of our attorneys can help you craft a plan that keeps your charities going, in the way you want, without getting all wet!
Contributed by MH Albuquerque, Santa Fe and Las Cruces Estate Planning Attorney, James P. Plitz.
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