Charitable giving is an important piece of many individuals’ estate plans. Beyond the tax advantages offered by charitable donations, many people have personal reasons for choosing to include charities in their estate plans. A number of different vehicles are available to facilitate charitable giving, apart from a straight gift of cash or property to an institution.
Below are a few articles to help you decide how to incorporate charitable giving into your estate plan and some of the most popular options.
The Pros and Cons of Different Charitable Giving Strategies
Once you have provided for your own personal expenses and retirement, it may be time to consider how your money could benefit others. Giving away some of your money is a great way to support the people and organizations you love. But choosing the right strategy is essential for minimizing your taxes and meeting your personal goals. Read more here. >
Understanding the Charitable Contribution Deduction
The charitable contribution deduction allows taxpayers to deduct donations to qualified charitable organizations on their income tax returns. Taxpayers must itemize their deductions in order to do so. Find out which charities qualify and how to claim your deduction. Read more here. >
How to Protect Yourself While Helping Others
Donating to a cause you care about is rewarding. Unfortunately, not all charities are created equal. Taking the proper precautions before giving ensures that your donations go to the people and organizations you want to help—and that you’re meeting both your personal and financial goals. Read more here. >
We hope you find these articles informative and helpful as you consider your charitable giving strategies. If you have any questions regarding these topics or would like discuss your financial situation, feel free to contact us or speak with any of our financial advisors. We’re here to help!