Everyone has their own reason for gifting their assets or a portion of their income to charitable organizations. Some find comfort in helping others who are less fortunate, while others simply want to share their good fortune. By sharing information about your planned donations, we can help you pick the best source to pull the assets from and how to set it up to maximize the impact to the charity.
Often, an individual will designate a charitable beneficiary in their will to benefit the organization after the individual dies. 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. Understanding how properly structured charitable gifts can provide current benefits for both the donor and the charity could be important for the charitably inclined.
Charitable planning involves tax issues that should be discussed with a qualified tax professional and your wealth management advisor. Our team can work with you and your tax advisor to develop the charitable plan that works best for you.