Specimen Agreements: Introduction

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From the course by University of California, Davis

Planned Giving

8 ratings

University of California, Davis

Planned Giving

8 ratings

Course 4 of 4 in the Specialization Fundraising and Development

In this comprehensive overview of planned giving, you’ll gain an introduction to the basic terminology and concepts in the field as well as an overview of each planned giving vehicle. Learn to identify and assess prospective donors, recognize planned giving benefits to your donors, match a donor’s interests and needs with the appropriate planned giving options, and structure a successful solicitation. You’ll understand the importance of administration of planned gifts to ensure compliance with policies and fulfillment of obligations to the donor. Apply your knowledge by developing a multi-step donor strategy and a marketing strategy, working on case studies, networking, and analyzing success factors.

From the lesson

Planned Giving Resources

In this module, you will be able to use templates for four commonly used planned giving agreements and differentiate between them. You will be able to choose the appropriate software to calculate donor benefits. You will be able to explain the roles and benefits of national and local US associations. You will develop a multi-channel marketing plan and ad aimed at prospective donors.

Planned Giving Resources Introduction1:21

Specimen Agreements: Introduction6:23

Specimen Agreements: Charitable Gift Annuity6:00

Specimen Agreements: Charitable Trust and Unitrust7:03

Specimen Agreements: Retain Life Estate6:55

Planned Giving Software7:14

Planned Giving Associations12:32

Meet the Instructors

Brian Casey
Assistant Vice Chancellor for Planned Giving

[MUSIC]

Welcome back.

In the previous module, you learned about planned giving administration.

This is the first lesson in module five.

In this lesson, we will discuss four of the most common planned giving agreements,

and look at templates for each.

After this lesson,

you'll be able to recall the four most common planned giving agreements.

Explain each of these planned giving agreements in general terms.

Describe the template for each.

Compare and contrast these four planned giving agreements.

Let's get started.

This lesson will explore the four most common planned giving documents and

look at a template for each one.

I will also let you hear how I would describe each one to a donor.

These include sample bequest language, a charitable gift annuity contract,

a charitable remainder trust agreement, and a retain life estate agreement.

Let's look at each one in turn.

As I mentioned in a previous lesson, the simple definition of a bequest is

a property or money that you promise in your will to give to another person or

organization after you die.

It's important to state the bequests in your estate documents properly.

We discussed in module four the benefits of a good letter of intent.

These sample benefits apply to using the appropriate language in the donor's

will or living trust.

All charities should be able to provide sample or

suggested bequest language to their donors to ensure everything is worded correctly.

This is not providing legal advice, but direction for

the donor to use when meeting with their estate planning attorney.

This is a document to show you sample bequest language.

In order to view this document in its entirety and see all the details,

please pause here and access the copy of this document in your resources.

Print that and refer to it as we proceed.

The main component of this document is making sure the donor has the information

needed to correctly state the name and the tax identification number of your charity.

It also states what the charity will receive and

introduces the concept of preparing a letter of intent

to define the specifics of their estate [INAUDIBLE] further.

The sample given here is my preferred way of structuring a bequest.

My philosophy is to put the minimum amount of necessary information in

the estate documents and use the letter of intent for the details and specificity.

The letter of intent is a fluid document that should be modified if the donor's

intent changes.

The letter of intent is a document prepared by the charity, so

it can be updated modified at no cost to the donor.

Bequests represent 80 to 90% of estate gifts received by a charity.

This is the most common document that you will provide to donors.

This document will be used frequently by the charity.

Common uses of this document include sending it to a donor or

a donor's estate planning attorney when an inquiry is made to the charity

stating they would like to include the charity in their estate plan.

Using it for

development professionals to leave behind when they meet with a donor who

indicates they're interested in including the charity in their estate plan.

And using it in your training program for staff and volunteers.

Here is how I might sound if I were describing or

recommending a bequest to a donor.

Thank you for your interest in including XYZ Charity in your estate plans.

We're grateful that you value our mission enough to make us a part of your legacy.

Let me review our sample bequest language document with you.

This document is something that you should share with your estate planning attorney.

As you will see in the document, you have the proper name of the charity and

federal identification number.

It's essential that these two things are accurately stated in your will or trust.

You can make a gift of a specific sum, specific property,

a percentage of your estate, or direct the residue to us.

The document provides you the language needed for each option.

The final thing I'd like to bring to your attention

is the information about the letter of intent.

We will prepare the letter of intent to outline your wishes.

A letter of intent is a simple agreement between you and the charity,

outlining how the charity will use the funds if and when they're received.

A letter of intent can be easily modified if your interests change

without the need to modify your will or living trust.

This is a very important part that allows you to be certain

that the charity understands and honors your wishes.

This information will remain confidential.

Please let me know if there's any additional information I can provide

in preparation for your meeting with your estate planning attorney.

Also, if it would be easier for

you, I'd be happy to talk directly with your attorney.

Here's my card to share with your attorney so he or

she has my direct contact information.

Thank you again for your generosity and support.

I look forward to working with you on your legacy planning.

I will check back with you in a couple of weeks if I haven't heard from you or

your attorney.

It was a pleasure meeting with you.

See you soon.

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