(BPT) - Everyone leaves a legacy behind. The question is: What will your legacy be? It's never too early to start planning. Thinking about your legacy now can help you live with intention and purpose while helping the causes you care about most.
Consider the inspiring story of Richard Dick Henry, a decorated World War II veteran and Pearl Harbor survivor. Affectionately known as 'Chief,' Richard wanted to ensure that future generations of veterans received care beyond his lifetime. With thoughtful planning, he fulfilled his intention. Richard contacted Wounded Warrior Project® (WWP) and learned how to leave a gift in his will. Although Richard passed away, his legacy gift is helping provide wounded, ill, and injured veterans with free, life-changing care today.
'Chief's gift helps Wounded Warrior Project keep the promise to be there for our nation's heroes, no matter what,' said Chris Needles, WWP™ chief development officer. 'Our free programs and services are changing and saving lives thanks to the commitment of generous supporters.'
Like Richard, you can make a major impact by planning a gift for an organization, no matter your financial situation. There are various ways to contribute, big or small, that will stand the test of time and support your charity of choice.
Here are three reasons why legacy giving is one of the most effective ways to make an impact.
- Legacy giving provides flexibility to support causes you care about without affecting your current financial situation:
- Leave a gift in your will: You can choose to give a set amount of money or a portion of your estate. This way, your gift can grow or shrink along with your assets over time.
- Give through your retirement account: You can select a charity to receive money from your retirement account in the future. Your savings grow tax-free during your lifetime, which means a bigger gift for the charity in the long run.
- Make a gift that gives twice: Ask your financial advisor about setting up a charitable gift annuity. This allows you to support a cause today while receiving steady payments for life. Your gift grows over time, making an even bigger impact in the future.
- Your planned gift, big or small, has the potential to create significant change for a charitable organization:
- Individual gifts can drive new initiatives, expand existing programs, and empower organizations to invest in innovative solutions to reach more people in need.
- Legacy gifts provide organizations with financial stability and the potential to plan for long-term projects that can have far-reaching impacts.
- Your personal story and motivation behind the gift can inspire others, potentially leading to a ripple effect of giving.
- Legacy giving allows you to make a lasting impact on organizations supporting complex, long-term issues.
Most organizations focused on intergenerational challenges require continuous support. For example, WWP relies on donors to address ongoing veterans needs such as chronic health conditions, post-traumatic stress disorder, employment difficulties, and financial instability. These challenges often extend to their families, creating a need for comprehensive support. Each donation improves the quality of life for veterans and empowers them and their families to leave lasting legacies of their own.
Remember that every gift, no matter the size, has the potential to change lives. Consider how planned giving can help you make a meaningful impact that aligns with your values and supports the causes closest to your heart.
By partnering with established organizations through planned giving, you can amplify your impact and help create lasting, positive change for generations to come.
Learn more about Wounded Warrior Project and how to set up a legacy gift today.
