This is one of the simplest forms of gift planning (plan now, give later). A nonprofit can be named in your will or living trust at any time by designating a specific amount or a share of the residual. This is a meaningful way to make a significant impact on a charity you love without incurring any costs during your lifetime. Additionally, charities can be designated as a beneficiary of IRAs and retirement plans, life insurance policies, commercial annuities, and holdings in brokerage accounts.
