CAP Partners with FreeWill to Assist Members, Supporters with Estate Preparedness
Statistically, 2020 has shown a growing interest by Americans in ensuring their estate plans are in order. A surge of people have taken to writing their wills and organizing their finances for the sake of preparedness, for the benefit of both themselves and their loved ones.
Estate planning is an important, concrete step that everyone should consider; it’s the best way to protect their assets, make sure their wishes are carried out and protect the people and things they love.
But estate planning can also serve as a powerful opportunity to support the organizations and causes they care about. That’s why millions of Americans choose every year to create a powerful, lasting impact by giving a planned gift, usually created through an estate plan.
This type of giving is advantageous for both the donor and the organization, For the donor, it’s a gift that assures peace of mind, generally costs nothing today and can come with great tax benefits, while for the organization it allows them to carry out their mission for generations to come.
“We believe our members, alumni and friends of Civil Air Patrol may benefit from this partnership and are pleased to provide an avenue to support the current and future missions of Civil Air Patrol,” said Kristina Jones, CAP’s chief of philanthropy.
Given the growth in estate planning and CAP supporters' increased interest in planned giving opportunities, Civil Air Patrol has partnered with FreeWill — a social venture that has empowered over 100,000 people to write their legal wills and raised $1.3 billion for charities — to bring CAP supporters new estate planning resources.
“Estate planning has traditionally been complicated and expensive,” Jones said. “These tools are completely free and easy to use, and can help maximize personal savings and peace of mind, all while supporting others with emergency response, cadet scholarships, aerospace outreach and more.”
FreeWill offers a range of options to organize assets and finances, all free for CAP supporters to use:
- A will-writing tool: Supporters can write this essential document for free in 20 minutes or less and protect the people they love. It’s also an easy way to create a legacy gift to ensure CAP’s many missions for America go on — without the donor paying a cent today.
- A tool to give directly from an Individual Retirement Account (IRA): Though the CARES Act waived the required minimum distribution (RMD) from IRAs for 2020, those who own these accounts still get the same tax benefits from making a qualified charities distribution (QCD) as opposed to donating a direct cash gift. Giving from an IRA today provides immediate resources to support communities in a moment when it’s truly needed.
- A tool to transfer appreciated securities: Donating appreciated stock is an option for CAP supporters seeking to avoid paying capital gains tax. It alleviates their tax burden but also creates a powerful opportunity to save and shape lives across the nation.
Contact CAP Chief of Philanthropy Kristina Jones, CFRE, with any questions about planned giving.