Make a Lasting Impact with Your Estate
We believe that leaving a lasting legacy goes beyond passing on your wealth to family members—it’s about making a meaningful difference in the world. Charitable giving and legacy planning allow you to support causes you care about while also benefiting from tax advantages and ensuring your philanthropic goals are achieved.
What is Charitable Giving & Legacy Planning?
Charitable giving is the act of donating assets, whether it’s money, property, or other resources, to nonprofit organizations or causes you believe in. Legacy planning takes this a step further, integrating charitable giving into your overall estate plan. It ensures that your charitable contributions continue to have an impact after you’re gone.
Legacy Planning allows you to:
- Create a plan to donate during your lifetime or after your death.
- Designate specific charities you wish to support.
- Maximize your charitable gifts in a tax-efficient way, reducing your estate tax liability.
- Establish scholarships, endowments, or foundations that can carry your name and support your causes for generations.
Why is Charitable Giving Important?
Charitable giving is a powerful way to:
- Support causes you care about: Whether it’s medical research, education, the arts, or environmental conservation, your contributions can help fund initiatives that align with your values.
- Create a legacy of generosity: Your charitable gifts can have a lasting impact, supporting the causes you care about well after you’re gone.
- Receive tax benefits: Charitable donations can reduce your estate taxes, potentially lowering the taxable value of your estate and maximizing what you leave behind for your loved ones.
- Strengthen your community: Through legacy planning, you can support local causes and organizations that improve the lives of others.
Types of Charitable Giving Methods
There are various ways to give to charity through your estate plan, including:
- Charitable Bequests: A gift made through your Will, specifying the amount, percentage, or asset you wish to donate to a charity.
- Charitable Trusts: These can be set up to provide income to you or your beneficiaries during your lifetime, with the remaining funds going to a charity after your passing.
- Donor-Advised Funds: A flexible giving tool that allows you to donate money to a charitable fund, which is then distributed to the charities you select.
- Charitable Remainder Trusts: A trust that allows you to donate assets to a charity while retaining the right to receive income from the trust during your lifetime.
How We Can Help You with Charitable Giving & Legacy Planning
We specialize in creating customized estate plans that incorporate charitable giving. Our experienced attorneys will help you:
- Choose the right charitable giving method based on your financial goals and the causes you want to support.
- Integrate charitable gifts into your Will or Trust in a way that maximizes tax benefits and reduces estate taxes.
- Ensure your legacy aligns with your values, making sure your charitable gifts go to the organizations and causes that matter most to you.
- Draft the necessary legal documents to ensure your charitable gifts are properly executed and that your legacy lives on for years to come.
Start Building Your Legacy Today
Making a difference starts with planning. By integrating charitable giving into your estate plan, you can leave a lasting impact on the causes you care about and reduce the financial burden on your estate. Our team of legal experts is ready to help you create a legacy that reflects your values and vision for the future.
Contact us today to schedule a consultation and begin crafting your charitable giving and legacy plan. Together, we’ll make sure your contributions continue to inspire and support future generations.