One of the aspects I love most about estate planning is helping our clients integrate charities into their estate plan. Many times the client’s family members will be the first beneficiaries listed, for obvious reasons. But a charity usually fits in nicely as the ultimate beneficiary in the case that all the family members are gone. Without an ultimate beneficiary listed, and if all the family members are gone, the money could end up going back to the state – most clients feel that a charity would be better served by receiving the funds.
I’d like to just take a moment and tell you about a charity that I love and support – the Make-A-Wish Foundation. Most people don’t know this, but Make-A-Wish actually started here in Phoenix, AZ. Since then, it has grown into a nationwide organization with hundreds of chapters across the country. The local chapter here, the Make-A-Wish Foundation of Arizona, does amazing things to support children with life-threatening medical conditions in the state of Arizona.
Sometimes clients are reluctant to name a charity as a beneficiary because they are unsure of how their funds will be used. I have seen firsthand how the funds given to the Make-A-Wish Foundation are used to support kids who need it most.
I have the privilege of volunteering as a Wish Granter for the Arizona chapter. This means I get to meet with the children who were referred to Make-A-Wish and I help them decide what they truly would wish for if they could wish for, quite nearly, anything! I recently had the opportunity to meet with a young boy whose only wish is to meet a particular celebrity, and the Make-A-Wish Foundation will make it happen! And not only will the child get to go on the trip, but the child’s entire family go, with all expenses paid – truly a once in a lifetime experience!
The wishes granted by the Make-A-Wish Foundation can only happen through private donations. And this is the case with most other charities – the work that they do can only happen when there are funds available through donations. While there are certainly tax and other estate planning benefits available to anyone who includes charities in their estate plan, most clients I visit with enjoy the personal satisfaction that comes from supporting worthwhile causes.
If you would like to learn more about how to integrate charitable giving in your personal estate plan, please contact us at 888.222.1328 today to arrange a free consultation.
About Morris Hall:
At Morris Hall, we have focused our legal practice on estate planning for over 40 years. Along with estate planning, our attorneys help clients and their families with matters of probate, trust administration, wills, powers of attorney, business planning, succession planning, legacy planning, charitable gifting and other important legal aspects. We also have divisions in financial, real estate and accounting to help you incorporate all of your planning together, ensuring that everything works perfectly for your needs and situation. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Tucson, Prescott, Flagstaff and Arrowhead. Contact us today at 888.222.1328 to schedule an appointment!
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.
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