Answer: Yes! Leaving a gift to charity should be considered as part of your estate planning, but it needn’t be a complicated matter. Take a look at the following table – showing several tools available for leaving a charitable gift or bequest. The mechanics on #1, #2 and #3 are quite simple and straightforward, and #4 doesn’t have to be much more complicated.
| Tool |
Complexity |
|
| 1 | Beneficiary on IRA or other retirement plan, life insurance, annuity, etc. |
Low |
| 2 | Beneficiary on bank pay-on-death account |
Low |
| 3 | Beneficiary on transfer-on-death account at mutual fund, brokerage, etc. |
Low |
| 4 | Bequest in will or living trust |
Low / Medium |
| 5 | Charitable Remainder Trust, Charitable Lead Trust, Private Foundation, etc. |
High |