Valley Community Foundation Urges Residents to Create Wills and Remember Local Nonprofits During National Estate Planning Week
DERBY, CT (October 17, 2019) – With nearly half of Americans living without an estate plan, the Valley Community Foundation (VCF) in Derby, Connecticut is urging the residents of the Greater Valley and beyond to create a will and remember their favorite nonprofit as well. As part of National Estate Planning Awareness Week, taking place from October 21-27, 2019, there is no better time to take action or modify an existing will to name a charitable organization as a beneficiary.
The Valley Community Foundation is building philanthropy in its five-town region through the Valley Gives Back® community-wide planned giving initiative. Through this effort, VCF assists the community in support of planned giving efforts. The website www.valleygivesback.org was created for those looking for simple explanations about how gift types work, toolkits, videos, sample will language, and much more.
“With so many nonprofits raising money today to keep the lights on tomorrow, most charitable organizations make an appeal for outright gifts by check or credit card,” said John Ready, VCF Donor Services & Communications Officer. “A planned gift is a great way for someone to remember a nonprofit when they no longer need their assets. These gifts often cost nothing during one’s lifetime and can be revocable if his/her financial situation changes.”
Ready added, “Planned gifts enable donors to leave a lasting legacy in support of a nonprofit they care deeply about and allow charitable organizations to establish a pipeline of support – a win for everyone. It has never been easier to plan now, give later, and impact tomorrow.”
Planned gifts have typically meant naming a nonprofit in a will or trust. Often times this is the norm however other gift types exist that can be simpler or more complex. Using the beneficiary designation of a 401k, IRA, or insurance policy, a donor can name a charitable organization for a percentage or specific amount. Other planned gift vehicles, such as charitable gift annuities and charitable remainder trusts for example, pay income for life where the balance is then given to the nonprofit after the transfer.
Ready encourages anyone interested in planned giving to ask their trusted professional advisor or speak with the staff at the Valley Community Foundation. There are a range of giving vehicles that can be used to match each person’s charitable ambition and financial situation. More information is available at www.valleygivesback.org.
Established in 2004, the Valley Community Foundation distributes approximately $1.6 million in grants each year to support the local nonprofit sector and the people it serves. In addition to grantmaking, VCF works in strong partnership with The Community Foundation for Greater New Haven (TCF), to promote philanthropy in Ansonia, Derby, Oxford, Seymour and Shelton and receives funding from The Gates Fund and other preference funds at TCF that benefit the Valley. For more information, visit www.valleyfoundation.org.
About The Valley Community Foundation
Valley Community Foundation