Charitable estate planning offers a way to support causes and potentially receive tax benefits.
Why Consider Charitable Estate Planning?
- Make a Difference: You can support causes such as education, healthcare, and more by designating assets to charitable organizations or establishing a charitable trust.
- Tax Benefits: Charitable donations made through your estate can reduce the taxable value of your estate, potentially lowering estate taxes for your heirs.
- Legacy: Charitable giving allows you to leave behind a legacy of philanthropy that will reflect your values and priorities long into the future.
How to Get Started:
- Identify Your Goals: Determine which causes or organizations you wish to support and what impact you hope to achieve.
- Consult with Professionals: Work with an estate planning attorney and financial advisor to explore options and ensure your plans align with your overall strategy.
- Consider Your Assets: Assess your assets and identify which ones you may wish to designate for charitable purposes.
- Create a Plan: To formalize your charitable intentions, establish a charitable trust or foundation, or include philanthropic bequests in your will or trust document.
By incorporating charitable estate planning into your overall estate strategy, you can leave a meaningful legacy while also potentially enjoying tax benefits during your lifetime.
We specialize in educating and helping you protect what you have for the people you love the most. Contact us to learn more about how we can help.
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