Build It Forward: Legacy Society of Habitat for Humanity of Greater Greensboro
No matter your stage in life, it’s important to have a plan to create a secure future for you and your loved ones during and after your lifetime. Your plan can also create a lasting legacy for Habitat Greensboro and the families we serve.
The Benefits of Making a Planned Gift:
- Your gift costs you nothing during your lifetime.
- Your gift is free of federal and estate taxes.
- You are teaching your heirs about the importance of philanthropy.
- You can change your plans at any time.
Examples of the Most Common Planned Gifts:
- Charitable Bequest: Your estate planning attorney can include language in your will designating a specific asset (such as a vehicle or piece of art), a dollar amount or a percentage of any asset be given to Habitat.Example: “I hereby, give, devise and bequeath ($Dollars) to Habitat for Humanity of Greater Greensboro, a non-profit organization located at 603-B N. Elm Street, Greensboro, NC 27401, for Habitat for Humanity of Greater Greensboro’s general use and purposes.”
- Beneficiary Designation Gift: It’s easy to designate beneficiaries on a life insurance policy or retirement account since they are not transferred through your will. For example, you can leave a percentage of your life insurance policy, your IRA, bank account or investment account to Habitat Greensboro by completing a beneficiary form provided by your insurance agent, bank, or investment advisor.
- Charitable Gift Annuity: This involves a contract between you and Habitat Greensboro in exchange for a partial tax deduction and a lifetime stream of annual income from Habitat to you and/or your loved one. Your estate panning attorney and financial advisor can work with Habitat for Humanity’s planned giving professionals to facilitate this type of gift.
While it is not possible for Habitat for Humanity to provide tax or legal advice, we do have access to planned giving experts and we are happy to help you sort through your options in preparation for a visit to your professional advisors.
One of our first Build It Forward members, Gerard Davidson, reflects on why he has chosen to leave a legacy gift to Habitat:
“Philanthropy is about having a heart to change people’s lives and that happens when we become truly invested in that effort. My thoughts are best expressed by Monsignor Oscar Romero, Bishop of El Salvador-
‘We plant seeds that will one day grow. We water plants already planted, knowing that they hold future promise. We lay foundations that will need further development. We are prophets of a future not our own.’
I invite you to join me in planting future seeds of growth for Habitat Greensboro by becoming a member of the Build It Forward Legacy Society.”