Many people don't understand the concept of planned giving; can you give us a quick summary?
Sometimes people want to make a large gift to MUSC but feel like they can't because of their current financial obligations. A planned gift is a gift made through one's estate plan, life insurance policy or retirement account. With a planned gift, you commit to make the gift today, but the gift does not actually pass to the Medical University until later, often times after the end of your life.
What are the advantages of planned giving?
A planned gift helps you create your legacy now without impacting any current demands, such as retirement, taking care of family, or health care. Many people would be surprised that they can make a larger impact after their passing than they ever could make right now, and we can help show them how to do that. There are charitable benefits that go in hand with planned giving as well depending on the type of gift. For example, for some people, a charitable planned gift can reduce any federal estate tax that may be due. A planned gift may be the largest gift that anyone ever makes to MUSC and by sharing your intent with us, we are able to help craft your legacy that fits you and your family.
What is your role in planned giving?
Our office does three things. First, we work with people to find a giving opportunity within MUSC that matches their philanthropic passion. Second, we help them make the gifts that they always wanted to make but just weren't sure how. Finally, we work to recognize and celebrate everyone's intentions while they are still living. We actually have a special giving society specifically for our planned giving donors, MUSC's Legacy Society.
What is your favorite aspect of planned giving at MUSC?
My favorite part is that I get to meet people from across the entire campus. From alumni to grateful patients and from faculty to members of the community, each person has a unique connection with MUSC. I have the wonderful opportunity to learn about people's passions and then help them create a legacy to fulfill their dreams. By creating scholarships, funding research, helping to build a hospital or college or supporting teaching departments, each gift will make a huge impact on the future of MUSC
Tell us the best part about your job.
We like to say that we are the keeper of the best stories, and we truly are! Each planned gift started with someone wanting to make a difference, and each gift is unique. Learning the motivation behind every generous donation humbles us. I think that the idea of a planned gift sounds overwhelming, but in reality it is one of the easiest gifts to make. By including MUSC in your estate plans or as a beneficiary, you have the opportunity to create a permanent legacy.
What would you tell people who want to give back but don't have the means right now?
That's the beauty of a planned gift. Many people leave a percentage of their retirement account or their estate to MUSC. Making a planned gift provides donors with the flexibility to live their lives as they choose and support their families, while still making an impact to an area that means so much to them. Everyone wants to make a difference to their family or community, and by making a planned gift, we have the opportunity to make sure that we are honoring the future intent of these individuals.
If I have already included MUSC in my estate plans, do I need to tell someone?
If you have already made a provision in your estate for MUSC, we would love to have the opportunity to thank you and recognize you for a gift you are making in the future. Even if you don't want the recognition, it allows each college or department to ensure that we have any details that you may want to share so that we are honoring your specific intent.