Donating to charities is no more only a religious thing but it is more about giving back to causes you love and support. Death is a very sensitive topic in one’s life but if you have made a decision to make a Will you should consider donating a part of your property to charities through your Will because it will cost you nothing after you pass away and this way, you can create a legacy beyond your lifetime. But it gets confusing sometimes while choosing an organization. This blog will help you to reach a decision.
What can you donate to a charity through a Will?
A lot of people choose to donate money to a charity through their Will but you can also choose the options below:
- Money, stocks, shares, FDs etc.
- Real Estate
- Vehicle, jewelry, etc.
How do you donate to a Charity through a Will?
Once you decide what you want to leave for the charity, you can proceed with the following steps:
1. Decide the cause you stand for
If you support any cause like LGBTQ+, animal shelter, physically challenged people, orphans etc., then it is easy for you to choose a charity. But if you don't have a specific cause in mind, we at AasaanWill will provide you options where you can choose a charity with just one click.
2. How do you want to leave for charity?
When it comes to leaving a part of your assets for charity, you have a few options, like:
- You can leave a specific asset or a fixed amount of money or shares.
- You can allocate a fixed percentage of your total property to a charity, eg. 10% of your property.
You can avail either option while you are making your Will at AasaanWill.
3. Name the charity as a beneficiary in your Will
Once you decide which assets to leave for charity and how to leave it, you should mention the organization as your beneficiary in the Will and must include these details:
- Full Name
- Address (including the state where it is situated)
Note: If a charity has more than one branch, mention that specifically.
4. What kind of beneficiary do you want the charity to be?
Lastly, decide on the kind of beneficiary you want the charity to be. Basically, there are 3 kinds of beneficiaries:
- Primary Beneficiary: The charity will receive whatever assets you will allot to them.
- Secondary Beneficiary: If your primary beneficiary passes away before you, your allotted property will go to the next beneficiary in line. You can prefer a charity for that as well, it doesn’t always need to be a person.
- Residuary Beneficiary: Under this the charity will receive the remainder and residuary property which you have not specifically mentioned in your Will.
How can AasaanWill help you?
If you have any particular organization in your mind to whom you want to donate, that is good, but if you are struggling searching for a charity that supports your cause, we at AasaanWill will provide you with alternatives relating to such causes.
Support the cause you love from the comfort of your own home by writing a Will at https://www.aasaanwill.com/.
AasaanWill. Zaroori Hai!