We understand that creating an estate plan isn't just about securing your assets for your loved ones; it's also about making a meaningful difference in the world.
Charitable giving in estate planning involves allocating a portion of your assets, whether in the form of money, property, or other assets, to support causes, organizations, or charities that hold special meaning to you. It's a way to leave a lasting legacy by making a positive impact on the community, society, or the world.
There are various ways to incorporate charitable giving into your estate plan, including bequests in your will, establishing charitable trusts, creating charitable foundations, or making direct donations.
Charitable giving can offer significant tax benefits. By donating to qualified charitable organizations, you may be eligible for income tax deductions and reductions in estate and gift taxes, enabling you to maximize the impact of your gift. But even more importantly, charitable giving is about knowing that your assets are making a difference in areas you are passionate about. It allows you to contribute to causes close to your heart.
“To give away money is an easy matter and in any man’s power. But to decide to whom to give it and how large and when, and for what purpose and how, is neither in every man’s power nor an easy matter.” Aristotle