LEGACY GIVING ADVISORS

Legacy Giving and Charity Singapore


We all like to give back to charity organisations that we care about or non-profit groups that are close to our hearts. But it can be difficult to know how to do this safely and in a way that is going to be beneficial to ourselves, as well as to the organisation. One way you can do this is through legacy giving.

 

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Legacy Gift Giving fees from S$2500 Nett.

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Legacy giving or planned giving is the act of donating to a charity or other non-profit organisation. A legacy gift can be left through a will and carried out when you pass away.

You are able to donate assets or property; essentially anything that you wish to give an organisation that you believe could be helpful to them. You can leave legacy gifts to any organisation that you have a strong connection to.

WHAT YOU NEED TO KNOW

About Legacy Gift Giving


Why Should You Plan for Legacy Gifts?

Your loved ones may be aware of what non-profit organisations you care about. But upon death, they may not know you want to leave a legacy gift. In order to make sure your organisation enjoys a posthumous gift, it is essential that you plan ahead. Think about the purpose of your will. The point is to carry out your wishes and make sure your loved ones benefit from your legacy. This is always the way to ensure non-profit organisations enjoy your life’s work.

How You Can Start Legacy Giving

If you wish to start planning your legacy giving to charity organisations in Singapore, there are two main ways you can do this. Let’s take a look at them and their differences.

Beneficiary Designation

Commonly, when you’re creating a will, you will have to name your beneficiaries. These are loved ones that are going to benefit from your estate when you pass away. It’s possible to make a charity or organisation a beneficiary to your estate. This means that they will receive everything, from savings accounts to houses that you own.

Bequests

A bequest is slightly different to a designated beneficial. Instead of receiving your whole estate, a bequest will ensure that an organisation receives the specific assets you want them to. For example, you can specify an amount of money or percentage of assets you want them to have.

What Should I Remember When Planning for Legacy Gifts?

You’re able to leave most assets to a non-profit organisation in your will. But the most common are pecuniary legacies, which are sums of money. It’s your decision how much money you want to donate and there are no set amounts that are mandatory.

 

You can also leave a specific legacy, which is when you name certain items that you have for the organisation to enjoy. For example, you could choose to leave jewellery, paintings or other items in your home. You can also choose to leave a residuary gift to charity organisations in Singapore. In other words, this is what will remain of your estate once expenses and other legacies have been given.

Do I Need a Lawyer to Plan for Legacy Gifts? 

If you plan on leaving legacy gifts for a special organisation of your choice, it’s recommended to contact a lawyer.

 

A professional with experience and expertise can advise you on the best way you can do this.

 

They can take care of all the legal paperwork and ensure that your legacy gifts will be safe and secured for you. This can offer you peace of mind.

 

Here at Kith & Kin Law we offer transparent fees and our Legacy Giving drafting fees start from S$2500 nett.

OUR PROCESS

How we can help you


Everyone has their own unique legacy they wish to leave behind. Through our purpose-driven ethos, we will help you craft out a personalised plan on how you wish to incorporate your legacy plan with your estate plan. 

Sign up for a consultation

The process starts with a paid consultation of 60 minutes for S$175.

Schedule a meeting

Meetings can be in-person or over ZOOM.

Creation of an Action Plan

Based on what has been agreed upon during the meeting, we shall start the process in fulfilling your legal requirements.

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Legacy Giving FAQ


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Here are some commonly asked questions about the Legacy Giving process. Should you have specific requirements or questions, please get in touch with us and we would be happy to assist you.

Can I Arrange for Gifts of My Stocks or Shares?

Yes, it’s possible to leave stocks and shares that you have as legacy gifts for organisations. This is known as a pecuniary gift and you’re able to leave them as a donation. Every gift that you leave can have a positive impact on the future of an organisation.

Schedule a consultation with us today.

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