The Importance of Year-End Giving: Ways To Give Through Estate Planning

Many families value giving to charities and organizations throughout their lifetime. Research shows 30% of annual giving is done in December and 10% occurs in just the last 3 days of the year.

If you desire to give once you pass on, you can outline your wishes in your Will or Revocable Living Trust. Estate planning ensures your assets are properly distributed to causes that matter most to you. 

Let’s take a look at ways you can give.

Estate Planning Facilitates Your Generosity

When preparing your Will and Trust, you can designate charitable institutions that you can contribute to. You can give to your church, your alma mater, your school, hospitals, educational institutions, research, etc.  

Strategic Ways to Give Through Estate Planning

Endowment: You can give a large sum of money to be an endowment so only the income will be used.

Retirement Funds: Giving from retirement is the best place to give because retirement money isn’t taxed when given to a charity. 

Real Property: Rather than giving your house to a charity, consider directing your Executor or Trustee to sell your property after your death and give the proceeds to your desired charity. 

Local Washington DC Charities To Give To

I enjoy giving around this time of year. It’s a personal value of mine to support charities and organizations with causes that help the Black community. 

In the greater Washington DC area, there are a number of organizations you can give to. Here are some of my recommendations: 

SisterMentors: Dedicated to providing academic support to women of color from high school to college and through doctoral studies. Donate today to SisterMentors.

NationHouse: One of the oldest independent Afrikan centered schools in the United States and in the DC metropolitan area serving the specific needs of children of Afrikan heritage from pre-school to 12th grade. Donate today to NationHouse.

Ujamaa School: Purposed to provide Afrikan children the development of a strong positive self-image, a sense of values, and the achievement of academic excellence. They are the oldest independent Afrikan school in the United States. Visit the school at 1554 8th St NW, Washington, DC 20001 to make a donation. 

Kuumba Preparatory School of the Arts: An African-centered private school dedicated to assisting children in developing their character and artistic talent through holistic education.

If you’re a part of a Greek organization, consider giving to your foundations too. 

Donate to museums preserving our culture such as The National Museum of African American History and Culture. 

Howard University Medicine & Healthcare department is dedicated to training the nation’s Black doctors, dentists, pharmacists, nurses and healthcare professionals. They list numerous initiatives you can donate to. Make a gift today.

Explore more organizations and charities to give to around Washington DC on the Greater Washington Community Foundation’s website.

Please don’t hesitate to reach out to us with any questions around giving through estate planning!