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As the new year unfolds, the month of January presents a unique opportunity to set goals for 2024. Philanthropic goals – such as planned giving – could be part of your New Year’s resolution list. Legacy giving is a thoughtful and intentional approach to philanthropy that extends beyond traditional donations. It offers long-term impact and personnel fulfillment. Including the Franciscan Friars in your planned giving would build your legacy and help ensure our legacy of compassionate care to the poor and marginalized well into the future.

Here are some things to think about if you’d like to set philanthropic resolutions and explore how planned giving aligns with the spirit of starting anew and making a positive impact:

Tax Benefits and Financial Planning. January marks the beginning of tax season. There are many tax benefits associated with planned giving, as it can be a strategic element in your overall financial plan. Speak to your tax accountant or a financial advisor about the fiscal advantages of planned giving.

Legacy Building. How do you want to be remembered? Incorporating planned giving into your estate planning is a powerful way to leave a lasting legacy. Planned giving to the Franciscan Friars would make a significant impact on the more than 2 million children, women and men who come to our food pantries and soup kitchens, addiction and employment programs, and other outreach ministries across the country for food, clothing, emergency shelter, and other basic life necessities. You would also be helping us care for our elderly Friars and educate our young Friars.

Planned Giving Is for All Ages. There is a common misconception that planned giving is only for “older” people. But it’s never too early for those of younger generations to establish a philanthropic identity and what they want their legacy to be. Even a small contribution can accumulate into significant support over time.

Planned Giving Options. Bequests, charitable gift annuities, and trusts are among the many planned giving options. Speak to an expert on which option would be best for your financial situation.

Developing a planned giving strategy in January could set the tone for a year filled with purpose and philanthropy. To learn more about how you can help the Franciscan Friars help our poor and marginalized sisters and brothers with your legacy gift, contact Brian Smail, OFM, via email at bsmail@friars.us or by calling 646-473-0265, ext. 303.

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