Legacy Giving

Legacy Giving


Legacy giving is a donation made by an individual through a will or other formal designation.  Legacy gifts are typically prepared with a financial planner and are meant to reflect the values and desires of the donor.  In most cases, a legacy gift is made upon someone’s death, but not always.  Legacy giving can take a number of forms, including recurring donations that begin while the donor is alive and continue after they’re deceased.

And legacy gifts don’t have to be monetary, either.  They can include material goods, property, stocks – anything that’s of value to the beneficiary.

If you are 72 years old or older, every year you can ask your IRA Administrator to transfer up to $100,000 to go directly to a non-profit organization of your choice.  Because your gift goes directly to a qualified charity, the IRA distribution is excluded from your adjusted gross income and will offer tax benefits for you.

You can designate Calm Waters as a full or partial beneficiary of any of the following:

  • Retirement plans, such as an IRA, 401(k), or 403(b)
  • Life Insurance policy
  • Financial accounts at your bank, brokerage account, CD’s
  • Property and other appropriate assets

Planning a legacy gift allows you to strategically accomplish both financial and charitable objectives.  For many, these include preserving the family name, honoring loved ones, minimizing tax burdens and supporting the community they call home.