Top 10 Legacy Giving Myths Debunked
By Osnat Gafni-Pappas
- I’m too young to think about leaving a legacy gift.
Anyone, regardless of their age, can decide to support the organizations they care about after they are gone. You can choose, no matter your age, how your assets will be distributed in the future.
- I have to be rich to make an impact.
Regardless of the size of your estate, your legacy gift will have an impact on the organizations to which you choose to leave a gift. In fact, most people are able to make a more meaningful gift after, rather than during, their lifetime.
- I already give money annually.
Thank you! Giving to an annual campaign is vital for the organizations that you care about. But when you are no longer around to make an annual gift, a legacy gift can help ensure that your support will continue for generations to come.
- I will need to hire an attorney.
There are many ways to leave a legacy gift that don’t require hiring a lawyer, such as naming an organization as a beneficiary of a portion of your retirement fund or life insurance policy.
- My kids might need my money.
Leaving a portion of your estate to charitable causes will give your children a terrific example of the importance of giving back to your community, without forsaking them financial support.
- I might need my money.
It’s true, you might. And it’ll be there for you if you do. This type of gift represents what you want to give once you are no longer here to use your assets.
- I won’t get to decide what happens to my gift.
You can designate how the money can be used ahead of time so that it will be used exactly as you wish.
- If the organization collapses, my money will be lost.
Since it is hard to predict where any of us will be in in the future, you can indicate that you’d like it to go to a particular cause as a second choice if your designated organization does not exist at that time.
- I don’t want the publicity associated with legacy giving.
Publishing a list of legacy society members and offering special opportunities to legacy donors can inspire others to consider joining in this important endeavor. However, you can absolutely choose to remain anonymous!
- It’s too confusing and complicated.
There are many options for leaving a legacy gift, many of which are simple. We are here to help guide you. If you have any questions, please reach out to Osnat Gafni-Pappas at osnat@jewishannarbor.org or 734-773-3538 to discuss how you can leave a legacy gift to the organizations that are close to your heart.
You can also reach out directly to any of the following participating Life & Legacy® community organizations: Ann Arbor Orthodox Minyan, Beth Israel Congregation, Chabad House, Eastern Michigan University Center for Jewish Studies, Hebrew Day School of Ann Arbor, Jewish Community Center of Greater Ann Arbor, Jewish Cultural Society, Jewish Family Services of Washtenaw County, Temple Beth Emeth, and University of Michigan Hillel.