Planned giving is a type of charitable giving that allows you to express your personal values. While integrating your charitable, family and financial goals, planned giving usually decreases the income, estate, and gift tax burdens upon both your estate and descendants. Structuring a planned charitable gift usually requires the assistance of a knowledgeable advisor such as an attorney, financial planner, or CPA.
Some examples of this type of gift include:
- Living Trust
- Life Insurance
- Retained Life Estate
- Charitable Remainder Annuity Trust
- Charitable Remainder Unitrust
- Charitable Lead Trust
- Charitable Remainder Trust
For questions or more information, please contact development@habitatmctx.org or 936-441-4663.
Frequently Asked Questions
- What is a legacy gift?
- Do I need to be wealthy to leave a legacy gift?
- What types of legacy gifts can I make?
- Can I change my mind after including Habitat in my estate plans?
- What language should I use in my will?
- Does leaving a legacy gift affect my family's inheritance?
- What if I already have a will?
- How can I let Habitat know that I have included them in my plans?
- Is my information kept confidential?
- What will my legacy gift support?
- Can I designate my gift for a specific purpose?
- How do I get started?
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What is a legacy gift?
A legacy gift is a future gift made through your estate plan. Most often, it is made through a will, trust, retirement account, life insurance policy, or beneficiary designation. Legacy gifts allow you to support Habitat for Humanity of Montgomery County while creating a lasting impact for future generations.
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Do I need to be wealthy to leave a legacy gift?
No. Legacy gifts come in all sizes. Many donors choose to leave a percentage of their estate rather than a specific dollar amount. Every gift helps families in our community build strength, stability, and self-reliance through homeownership.
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What types of legacy gifts can I make?
Common legacy gifts include:
• A gift in your will or trust
• Naming Habitat MCTX as a beneficiary of a retirement account
• Naming Habitat MCTX as a beneficiary of a life insurance policy
• Gifts of real estate or other assets
• Charitable trusts
We encourage donors to consult with their attorney or financial advisor to determine the best option for their situation. -
Can I change my mind after including Habitat in my estate plans?
Yes. Most bequests made through a will or revocable trust can be changed at any time during your lifetime.
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What language should I use in my will?
If you would like to include Habitat for Humanity of Montgomery County in your will, please contact us. We can provide sample bequest language for you and your attorney to review.
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Does leaving a legacy gift affect my family's inheritance?
You decide how your assets are distributed. Many donors choose to provide for loved ones first and then designate a percentage or specific amount to charitable causes that are important to them.
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What if I already have a will?
You may be able to add Habitat for Humanity of Montgomery County through a simple amendment called a codicil or by updating beneficiary designations on retirement accounts, life insurance policies, or other financial accounts.
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How can I let Habitat know that I have included them in my plans?
While not required, we welcome the opportunity to thank you and ensure we understand your intentions. Sharing your plans can also help us honor your wishes and celebrate your commitment to our mission.
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Is my information kept confidential?
Absolutely. Any information you share regarding your estate plans will be treated with respect and confidentiality.
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What will my legacy gift support?
Legacy gifts help Habitat for Humanity of Montgomery County build and repair homes, expand affordable homeownership opportunities, serve local families, and strengthen communities throughout Montgomery County for years to come.
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Can I designate my gift for a specific purpose?
In many cases, yes. We are happy to discuss your charitable goals and determine whether a specific designation aligns with Habitat's future needs and mission.
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How do I get started?
The first step is often creating or updating your will or estate plan. You may wish to speak with an attorney, financial advisor, or estate planning professional. You can also explore free estate-planning resources and will-creation tools available through our website.
