The official definition of a philanthropist is “a person who seeks to promote the welfare of others, especially by the generous donation of money to good causes.” When you picture a philanthropist, you might picture someone rich and famous. People like Oprah or MacKenzie Scott or Melinda French Gates. But anyone – including you – can be a philanthropist. It’s about promoting causes you believe in and donating money where you can.
Planned Giving – putting a cause like your local library in your estate plan or will – is one way to extend your philanthropy. You can promote the cause you believe in for as long as you can. Talk to your estate planning attorney to learn how to add your favorite non-profits to your estate plan.