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STATEMENT OF PLANNED GIFT INTENTION Personal & Confidential The Richmond Symphony recognizes those who have helped secure its future by making gifts through their will and other planned gift arrangements.

How to fill out statement of planned gift

How to fill out statement of planned gift

1. Start by gathering all the necessary information, such as the donor's name, contact details, and any specific instructions they have regarding the planned gift.
2. Begin the statement by introducing the donor and their relationship with the organization they are making the gift to. Include important background information about the donor, such as their occupation and philanthropic activities.
3. Describe the details of the planned gift. Specify the type of gift, whether it is a bequest in a will, a charitable remainder trust, a gift annuity, or any other planned giving arrangement.
4. Clearly outline the purpose of the gift and how it will benefit the organization. Highlight any specific programs or initiatives that will be supported by the planned gift.
5. Provide instructions or suggestions on how the gift should be used or allocated by the organization. If the donor has any preferences or restrictions, make sure to include them in the statement.
6. Include any legal or financial considerations that may be relevant to the planned gift. This could involve working with an attorney or financial advisor to ensure the gift is structured appropriately.
7. Conclude the statement by expressing gratitude to the donor for their generosity and support. Reassure them that their gift will make a lasting impact on the organization's mission.
8. Review the statement for accuracy and completeness, ensuring that all necessary details are included. Seek inputs from legal or financial experts if needed.
9. Once the statement is finalized, provide a copy to the donor for their records. Keep a copy for the organization's records as well.
10. Periodically review and update the statement as needed, especially if there are changes in the donor's circumstances or the organization's priorities.

Who needs statement of planned gift?

1. Statement of planned gift is typically needed by charitable organizations, non-profit organizations, and institutions that rely on philanthropic contributions.
2. It is useful for organizations that actively engage in planned giving programs and wish to provide donors with a clear understanding of how their gift will be used.
3. Donors themselves may also benefit from having a statement of planned gift as it serves as a formal record of their intentions and ensures that their wishes are accurately communicated to the organization.
4. Financial advisors, attorneys, and other professionals involved in estate planning and charitable giving may also require a statement of planned gift to properly advise their clients and ensure legal compliance.

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What is statement of planned gift?

A statement of planned gift is a legal document detailing the intention to leave assets or property to a charity or organization upon the donor's death.

Who is required to file statement of planned gift?

Individuals who have planned to leave assets or property to a charity or organization upon their death are required to file a statement of planned gift.

How to fill out statement of planned gift?

The statement of planned gift can be filled out by providing details of the planned gift including the name of the charity or organization, description of the assets or property being gifted, and any conditions or restrictions on the gift.

What is the purpose of statement of planned gift?

The purpose of the statement of planned gift is to legally document the donor's intention to leave assets or property to a charity or organization upon their death.

What information must be reported on statement of planned gift?

The statement of planned gift must include details of the planned gift such as the name of the charity or organization, description of the assets or property being gifted, and any conditions or restrictions on the gift.