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Many donors do not feel confident in their knowledge of planned giving. This is not surprising as there are common misconceptions about the subject. For instance, donors may feel they have to be extraordinarily wealthy to consider a planned gift – which is not the case. Donors can make any manner of planned gifts in any gift amount during their lifetime or at the time of their passing. It’s the “planned” in planned giving that is key. In the planning process of your intended gift, it is important to avoid common mistakes such as:
· Sending your gift to the wrong charity (many charities have similar names, so you want to double-check you have the right one)
· Not providing the charity with the details of your gift. Sometimes, monies are sent to us without any donor or beneficiary information. Always provide this information directly to the charity so your gift can be matched when it arrives. At the Archdiocese, we encourage you to use our giving forms that can be found at: www.archindy.org/ccf/fordonors
· Not informing your family, and especially the executor of your estate, of your bequest intentions. Your intentions will best be fulfilled if you have previously communicated with your loved ones.
· Not having an updated will. Best practice is to review your will every five years to determine if changes need to be made.
And, as always, we recommend you consult your professional advisors for legal or tax advice. If we can provide you with planned giving information, please contact the Catholic Community Foundation at ccf@archindy.org or 317-236-1482.
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