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There was a time when most 50- or even 60-year-olds rarely gave much thought to estate planning and even less to including a philanthropic gift in their plans. Times have changed.<\/p>\n
No longer is estate planning with a philanthropic motivation the special province of the elderly. It is increasingly common for people in their 60s, 50s \u2014 and even younger \u2014 to include provisions in their wills for a gift to Georgia Southern.<\/p>\n
\u201cIt used to be that those who were 70 or older were most interested in estate planning,\u201d said Christopher Johnston, University associate vice president for trusts, estates and planned giving. \u201cThen it became 65 or older. Now, most of the constituencies are comprised of 55 or older,\u201d Johnston said. \u201cToday people are accumulating wealth faster and are starting to think sooner about the importance of estate planning. As a result, they have more time and can think very realistically and strategically about how best to care for their families, friends and Georgia Southern.<\/p>\n
\u201cIt becomes a question about wealth for individuals, \u2018How do I use this?\u2019 People begin to realize that they truly can\u2019t take it with them. Estate planning is really all about how to plan for the future,\u201d he said.<\/p>\n
There really is no time too soon to begin planning an estate, according to Johnston, even for people in their 20s or 30s. \u201cAt the very least we should have a will or living trust. It\u2019s like an insurance policy. It\u2019s something they can begin planning very, very early and philanthropy can assist individuals regardless of their age to plan for the future.<\/p>\n
Young graduates have a great appreciation for their University experiences and can be some of Georgia Southern\u2019s most ardent supporters, but they often have the most limited incomes and heavy debt. Having young children and a mortgage and other bills make the idea of a gift seem impossible.<\/p>\n
\u201cOn the other hand, even young people need a will,\u201d said Johnston. \u201cThey need to protect their family\u2019s financial security in the event something should happen to them. The earlier they create a will the better. They can always change it, but at least they have it.<\/p>\n
\u201cIt\u2019s at this point that they might consider including Georgia Southern for a future gift,\u201d he said. \u201cWhile it\u2019s not an immediate financial commitment in the form of a cash gift, it does greatly benefit the University and it meets those graduates\u2019 desire to show their appreciation for what Georgia Southern means to them. It\u2019s so gratifying when people realize they can do that,\u201d said Johnston.<\/p>\n
\u201cRegardless of age you can always do a bequest,\u201d he said. \u201cAlthough it\u2019s only a paragraph on a sheet of paper, the impact that makes in the future for students, professors and the University is huge. It\u2019s great to know that a person had the foresight to say, \u2018I can write down three sentences now that will greatly impact the University in the future.\u2019\u201d<\/p>\n
Older people who investigate their options for gifts in the context of estate planning find even greater and more potentially beneficial options, Johnston said.<\/p>\n
\u201cMany estate planning tools provide an income for life or the life of a loved one. Trusts can be created in your, your spouse\u2019s or significant other\u2019s names to care for them. Gift annuities can do the same.\u201d<\/p>\n
People who have accumulated significant wealth, but who are concerned about later potential health problems or long-term care can create a bequest so that whatever is left in their estate can go to the University. Or, they can leave a specific percentage of the estate to benefit a program, school or college that holds special meaning for them.<\/p>\n
\u201cIt really comes back to philanthropic passion,\u201d Johnston said. \u201cWhen I meet with individuals, the most exciting thing for me is listening to their stories about their Georgia Southern experiences. The impact that one institution can have on an individual during a very critical part of their life is amazing. When people look back, I hear many individuals say, \u2018You know, that was one of the most important parts of my life\u2019 or \u2018That\u2019s really what contributed the most to my success.\u2019 It\u2019s all about that passion.<\/p>\n
\u201cTogether, the donor and I can create a philanthropic gift in a package that both mirrors their passions and takes care of them and their children or grandchildren,\u201d he explained. \u201cGeorgia Southern has made a meaningful difference in people\u2019s lives. Because of that, alumni, family members and friends want to sit down, talk and explore what options they have to be able to give back to others so that they can have, and may also benefit from, the same experience.\u201d<\/p>\n
Planned giving represents a significant gift to Georgia Southern and also provides creative and flexible strategies for your estate and charitable planning. Most importantly, your planned gift has a meaningful impact, supporting the work of the University that is also important to you while educating the next generation of leaders. Your commitment may be directed toward any program, school or college.<\/p>\n
Gifts may include:<\/strong><\/p>\n\n