Question bequests to charitable/non-profit organizations?

[Lorenzoid]

Is anyone here planning on, or considering, leaving a bequest to a charitable/non-profit organization involved in activities related to diving, ocean conservation, research, or anything else that is related to our hobby? I'm interested in finding out what organizations others might have looked into as potential beneficiaries of a bequest in their will.

 

[ThatDogDontHunt]

One issue is that things change. Naming a specific organization in your will means you need to monitor and update your will over time as various organizations come and go and fall in and out of favour.

As an example: we donate to an arts organization and intended to leave them some money, but now it is very apparent that we will outlive the organization.

An alternative is to set up a trust and then let them figure it out after you are gone. Our executor understands our wishes and we trust that they will do their best to make it happen. If not, it really doesn't matter to us...

 

[Rob9876]

DiveHeart is doing good work helping people with disabilities through adaptive diving. I have not yet looked into estate planning to include them, but I'm sure it's an option.

Diveheart home - Diveheart

www.diveheart.org

 

[Lorenzoid]

An alternative is to set up a trust and then let them figure it out after you are gone. Our executor understands our wishes and we trust that they will do their best to make it happen. If not, it really doesn't matter to us...

True, but then the burden is on the executor, who may know nothing about the ocean or diving, to research what organizations might fit the description. I'm looking at the contingency in which I have no close living relative to serve as my executor, and that triggers an alternate executor who might be someone-for-hire, like my lawyer. If they have to spend time on this, their fees could eat up whatever "residue" of my estate might go into the trust for this purpose. I'm a diver and am having enough difficulty sifting through names of possible candidates. Sure, Diveheart is one, DAN might be another. Ocean Conservancy, maybe. Dunno. Looking for ideas.