What is Legacy Giving?
Legacy giving, also known as planned giving, is a profound way to leave a lasting impact on the causes you hold dear, even after you’re gone. By choosing Akshaya Patra as your legacy beneficiary, you are ensuring that your values and passion for creating positive change continue to thrive for generations to come.
Why Akshaya Patra?
Because we don’t just provide meals; we nourish dreams and empower young minds. With a legacy gift, you become part of a transformative journey that eliminates classroom hunger and opens doors to education and brighter futures for underserved children. Your legacy will be woven into the very fabric of our mission, making a profound and enduring difference in the lives of countless children across India. Choose Akshaya Patra for legacy giving and be a beacon of hope and change for generations to come.
Benefits of Legacy Giving:
Perpetuating Your Values:
Legacy giving allows you to pass on your values and principles to future generations. By supporting causes you believe in, you leave a meaningful legacy that reflects your life's purpose.
Many legacy gifts offer tax advantages. Depending on your location and the specific structure of your gift, you or your estate may receive tax deductions or exemptions, which can maximize the impact of your donation.
Creating a Lasting Impact:
Charities can use your legacy gift to fund long-term projects, scholarships, or endowments. This enduring support can help charities plan for the future and make a substantial difference in their ability to achieve their mission.
Honoring Loved Ones:
Legacy giving allows you to honor the memory of loved ones by supporting causes they were passionate about or establishing a memorial fund in their name.
Methods of Legacy Giving:
A bequest is a gift specified in your will or trust, designating a portion of your estate to go to one or more charities. It's a straightforward way to leave a legacy and can be a percentage of your estate, a specific dollar amount, or even a residual bequest.
Charitable remainder trusts and charitable lead trusts are financial instruments that allow you to provide for both charitable organizations and your loved ones. Charitable remainder trusts pay an income stream to beneficiaries for a specified period, after which the remaining assets go to charity. Charitable lead trusts, on the other hand, provide income to charities for a designated period before assets are returned to your heirs.
Gifts of Retirement Assets:
Designating a charitable organization as a beneficiary of your retirement account can be a tax-efficient way to leave a legacy. Retirement assets are often subject to heavy taxation if left to heirs, but charities can receive the full amount tax-free.
Life Insurance Policies:
You can name a charitable organization as the beneficiary of a life insurance policy, ensuring that the charity receives the death benefit when you pass away.
Be an angel in a young kid’s story by supporting the underserved children of India through Akshaya Patra!