California is a state full of people who want to help others from all walks of life. One way that you can accomplish such an important goal is through the power of estate planning. Following a few simple tips lets you create or update your estate plan to focus on accessibility, equity, diversity and inclusion.
Find and give to charitable causes
Leaving behind assets to their loved ones is a goal for many during the estate planning process. You can do this while also setting aside a sum of money or valuable items for a charity that reflects your beliefs and values. You may choose to give funds to an organization that supports inner-city youth or a program providing food to less fortunate families. Speaking with an estate planning professional can help you understand how to make the biggest impact from what you have to donate.
Use a testamentary power of appointment
Creating an estate plan gives you the utmost control over your assets. You can also relinquish some of this power to your beneficiaries through a testamentary power of appointment. This allows asset recipients to have authority over asset distribution after they pass away. Your beneficiary could use this power to distribute more assets to a charity if their children are already well taken care of.
Making gifts in your memory
Understandably, people who are passionate about diversity and inclusion often love sharing these causes with others. You can help encourage others to support inclusivity by including a wish to ask for funeral memorial gifts in your estate plan that go toward your named charity.
It’s human nature to want your loved ones and charitable organizations to remember you fondly. Having an estate plan focused on inclusion helps make those goals possible.