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Ask Gordon

Gordon L. Nelson, CPA, CFP® is the Foundation’s Planned Giving Specialist. Want to get your questions answered? Write him or call him at 435.213.9986.

September 2023

Dear Gordon,

I’m a young professional just starting my career. My budget is tight, but I’m passionate about conservation. What options do I have in planned giving without breaking the bank?

-Everglades Explorer
Homestead, FL

Dear Explorer,

Your feelings are shared by many of us, whether we’re starting our careers or are more seasoned professionals. It’s hard to balance providing for ourselves and loved ones and also meaningfully supporting causes we are passionate about.

For someone in your situation, a beneficiary designation gift could be an ideal solution. You can designate an organization like the Fish & Wildlife Foundation of Florida as a beneficiary for your 401k, IRA, life insurance policy, or even your bank or investment account. Here’s why this approach might be a good fit:

  1. Ease of Execution. This gift is straightforward to set up. All it takes is completing a form from the financial institution that manages your account.
  2. Cost-Effective. There are no legal fees involved, making it a budget-friendly choice.
  3. Flexibility. As your circumstances change, you can easily update or change your beneficiary designation.
  4. Unrestricted Access. You can continue using the account as you normally would, without any limitations.
  5. Immediate Impact. While you might not see the fruits of your gift right away, you’ll have the gratification of knowing you’ve made a long-term commitment to a cause you’re passionate about.

This method has served me well, and I’d be more than happy to guide you through the process if you decide it’s the right fit for you.

Best,
Gordon

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Ask Gordon

Gordon L. Nelson, CPA, CFP® is a planned giving specialist. Want to get your questions answered? Write him or call him

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