Our Weekly Tip: Set up a Memorial Scholarship

Credit: Tax Credits

Our Tip of the Week: Flowers are a beautiful way to express how much friends and family love someone who has died, yet flowers are only temporary. They eventually wilt away. Instead of flowers, set up a scholarship fund in your loved one’s name to create a more lasting memorial for him or her. This memorial idea is perfect for those who have dedicated their lives to helping others.

How-to Suggestion: First, find a charitable organization that lines up with an issue or cause that your loved one was passionate about. For example, someone who dedicated his or her life to helping children could have donations sent in his or her name to a children’s hospital. Many existing charities are happy to take donations, or you can create an entirely new charity for your loved one. Consider starting a school scholarship program with an institution in your area under your loved one’s name. During memorial services, ask that guests make a donation to the charity in lieu of giving flowers or other gifts. Make a short-term donation from the service, or keep the scholarship going with the help of other institutions and donations. The key is to customize the charity based on what your loved one truly cared about — that’s how it becomes a meaningful memorial.