We believe strongly in giving back to the community – fortunately, so do our clients.
By using charitable gifting techniques, a donor may be able to benefit the charity while living without having to sacrifice the income that an asset can generate. Often times, an individual will designate a charitable beneficiary in their will to benefit the organization after the individual dies.
The tax code offers incentives for gifting of one’s assets or incomes. Tax deductions are given for current contributions and, for estate owners, charitable gifts can reduce the size of the estate to help minimize estate taxes.
Understanding how properly structured charitable gifts can provide current benefits for both the donor and the charity could be important for the charitably inclined.
For more information of charitable planning, please contact us today.