Remove Document Remove Liability Remove Pass-Through
article thumbnail

Estate Planning Essentials: 10 Crucial Documents for Organizing Your Affairs

Planned Giving

This entails organizing various legal documents to ensure your wishes are respected. Below is a comprehensive checklist of the essential documents needed for effective estate planning, why they are important, and how to obtain them. Sign the Document : Ensure it is signed and notarized.

article thumbnail

Keep Your Gift Acceptance Policy Strong

Planned Giving

What you decide to accept often depends on the feasibility of following through on the procedure to accept the gift. This document is written to explain charitable gifts to donors, but it is helpful to enlighten nonprofits on the burden of reporting unusual major gifts legally too. These two questions often go hand in hand.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Understanding Probate: A Comprehensive Guide to the Probate Process

Planned Giving

However, this essential procedure plays a critical role in ensuring that a loved one’s wishes are honored after they pass away. The church courts handled probate issues, ensuring that the deceased’s soul was cared for through proper distribution of their estate. Assets that must go through probate are known as probate assets.

article thumbnail

Crafting Your Own Will: Benefits and Drawbacks for Willmakers

Planned Giving

Creating a will is a crucial step in ensuring your final wishes are respected and your loved ones are taken care of after your passing. A DIY will, or do-it-yourself will, is a legally binding document that you create independently, without the direct involvement of an estate attorney.

article thumbnail

7 Vital Tips for Successful Estate Planning for Aging Baby Boomers

Planned Giving

Estate planning is a crucial step in ensuring that your assets and wishes are handled according to your preferences after your passing. However, for those with estates exceeding this amount, advanced planning is essential to minimize tax liabilities and ensure a smooth transfer of wealth. Life changes, and so should your estate plan.

article thumbnail

How Lessons Learned From Fighting Food Insecurity Can Help Your Nonprofit

Blue Avocado

Prior to the Good Samaritan Act, many corporations felt they could face liability for donating food, and people who salvaged it without documented donation could face prosecution. After many years of lobbying and hard work, the GSA was passed, enabling all parties to help people.

article thumbnail

The Fundamentals of Grant Writing for Nonprofits: How to Write an Effective Grant Proposal

Allied Grant Writers

It should also pass the reviewer’s criteria. Secure and prepare your documents. File these documents. This is to protect both the board and staff from legal liabilities. Since application papers are important legal documents, it will be wise to get the help of a seasoned attorney. Seek help from experts.