Best practice on recording overage from a realized planned gift

Djurdjica (Dj) Saula

Hi everyone,

We are starting to utilize our planned giving module to record our planned gifts. As we are setting up our policies and procedures, one question came up that I'd love to get some feedback/best practices. If a planned gift is recorded for (let's say) $1M, and after the donor passes away a payout is received for more than what was recorded. How does your organization handle the overage? Do you count the overage in your financials? How about if the payout amount is less than what was initially recorded? Any feedback/best practices that you can share would be greatly appreciated!

Dj