Leave a Legacy
For many, charitable giving is a way of life. Whether it is to support an organization that has touched your life in a meaningful way, a school or university that put you on the road to success, or simply a cause that you feel passionate about, charitable giving not only offers emotional benefits, but practical ones as well.
For motivated donors, one question is how much to give throughout your lifetime and what to leave as charitable gifts in your will or trust.
For those who are not concerned about the use of the assets during their lifetime – for care, or enjoyment – a charitable gift may be a regular occurrence. Others may choose to pass on assets after their death, in addition to, or sometimes in place of, passing on assets to family members.
The options for charitable giving within an estate plan are varied. One option is to make a gift at death through a will or trust, which would then reduce the amount of the donor’s estate, and thus any estate taxes that would need to be paid.