Stories of progress, inspiration, and information in overcoming osteosarcoma.

Robyn Roth and Mack McKinley standing outside in nature with their dog, Bella Bellona

Don’t Believe These Planned Giving Myths

Learn the truth behind six common misconceptions about including a nonprofit organization in your estate plans.

Naming a nonprofit in your will or estate plan is one of the most significant ways to support the causes you care about, including osteosarcoma research.

“Planned giving is not just about leaving a gift after you’re gone; it is about creating a legacy that reflects your values and supports causes that matter to you,” says Emily Allbright, a seasoned fundraising executive and member of the Osteosarcoma Institute’s development committee. “We’ve seen firsthand how transformative these gifts can be.”

If you have never made a planned gift before, you might feel uncertain about where to start.

What is Planned Giving?

Before we address common misconceptions about charitable estate planning, let’s cover some important terms.

Planned giving is the process of designating a future gift that will leave a lasting legacy to a nonprofit organization, often through a will or estate plan. It costs you nothing today and allows you to dedicate a part of your legacy to finding a cure for osteosarcoma.

A will is a legal document that specifies how your assets will be distributed after your death, as compared with a living will, which outlines your wishes for medical care if you become incapacitated.

A bequest is any gift specified in your will, which could be in the form of money, stocks, real estate, or other tangible assets (jewelry, art, collections, etc.). You can make a charitable bequest by specifying in your will that you wish to leave a portion of your estate to a nonprofit organization such as the Osteosarcoma Institute.

That’s exactly what Robyn Roth and Mack McKinley (pictured above) did when they learned about the OSI’s work after losing their beloved dog, Lavinia, to osteosarcoma. Hopeful that there are better treatments still to come — even if discovered after their lifetime — Robyn and Mack decided to earmark a portion of their estate for the OSI upon their passing.

“We want to ensure that the assets we have developed are distributed to secure organizations like the OSI who will continue our mission long after we are gone,” McKinley says. “We have lost so many of our beloved pups to cancer. We are thrilled to have discovered the OSI, and we know that they will be there to continue the research and find a preventative route and a cure for osteosarcoma.”

Another simple yet impactful way to make a planned gift is by naming a nonprofit organization as the primary or secondary beneficiary of a life insurance policy.

“This can be a great option for those who want to make a significant impact without altering their current financial situation,” Allbright says. “It’s as easy as updating your beneficiary information with your insurance provider, and it allows you to leave a lasting legacy.”

Now, let’s take a closer look at the truth behind six common myths about estate planning and explore the benefits of planned giving.

Common Myths About Estate Planning and Charitable Giving

Common misconceptions can make the planned giving process seem daunting, especially when it comes to navigating the complexities of wills and trusts. Understanding the truth behind these myths is the first step to discovering how simple — and powerful — planned giving can be.

Myth #1: I don’t need a will until closer to retirement.

Everyone, even young adults, should have estate plans that include a will. Major life changes such as marriage, having a child or children, or starting a new job are ideal times to create or update your estate plans.

“You’re never too young to think about your legacy,” Allbright says. “Planned giving is not just for the elderly; it’s for anyone who wants to make a lasting impact and have their wishes in writing of how they want to leave a lasting legacy.”

Myth #2: Planning a will is too complicated.

Estate planning does not have to be overwhelming.

“If you know how you want to give, who you want to give to, and why you want to give, the rest is just a matter of working with the correct professionals,” Allbright explains.

Estate planning professionals, such as financial advisors, estate planning attorneys, and tax advisors, can help guide you through the process, ensuring your wishes are properly documented and legally binding.

Myth #3: Estate planning is a huge time commitment.

While it may seem like a daunting task, creating an estate plan that includes planned giving is often quicker than many people expect.

“In my experience, keeping up with everyday tasks like managing passwords or preparing for back-to-school is often more time-consuming than setting up an estate plan that includes planned giving,” Allbright says.

Working with experienced professionals can streamline the process, making it far less of a burden than you might imagine.

“You’re never too young to think about your legacy,” Allbright says. “Planned giving is not just for the elderly; it’s for anyone who wants to make a lasting impact and have their wishes in writing of how they want to leave a lasting legacy.”

Myth #4: Nonprofits don’t need to know about my planned gift.

Informing a nonprofit about your planned gift is more than a courtesy — it allows the organization to plan for the future and ensure your gift is used according to your wishes. It also allows the organization to thank and celebrate you and your generous decision to make a lasting legacy gift.

“The OSI recently received a significant gift from an estate that we had no idea was coming,” Allbright says. “It would have been amazing for us to be able to express our gratitude to the donor on behalf of the organization during their lifetime, even if they had wished to stay anonymous.”

Let the OSI know about your planned gift so we can thank you for your lasting commitment to advancing osteosarcoma research.

Myth #5: I can’t trust that my money will go to the right place.

Many people worry that their charitable intentions won’t be honored, but that’s where estate planning and legally binding wills come into play. That’s also where letting the nonprofit you have included in your plans know about your designation when you make it.

“We always encourage donors to talk with us about their plans,” Allbright emphasizes. “It’s not just about receiving the gift — it’s about understanding the donor’s intentions, whether it’s to fund a specific area of research or to honor a loved one.”

We make this easy by providing sample language you can include in your will to direct a charitable bequest to the Osteosarcoma Institute and specify a designation. With clear communication and proper planning, you can be sure your wishes are fulfilled.

Myth #6: My charitable bequest is too small to have an impact.

There’s no such thing as a charitable donation that’s too small. Every contribution makes a difference, and collectively, smaller donations can add up to substantial support for a nonprofit’s mission.

“Planned gifts, no matter the size, are transformative,” Allbright says. “They are a celebration of the donor’s life and values, and they leave a lasting legacy.”

Let the OSI Know About Your Planned Gift

At the Osteosarcoma Institute, we are committed to honoring our donors’ wishes and ensuring that every planned gift has a meaningful impact.

If you are considering including OSI in your estate plans, we’d love to hear from you. Together, we can work to find better treatments and, ultimately, a cure for osteosarcoma.