Charitable Giving and Estate Planning: Maximizing Impact Through Strategic Decisions


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Giving to Charity as Part of Your Estate Plan 

Discover how Perigon Legal Services can guide you through integrating charitable giving into your estate planning to maximize tax benefits and leave a lasting legacy.

Author: Stan Faulkner, Founder, Perigon Legal Services, LLC

Mr. Faulkner is an experienced counselor and litigator with 15 years of experience, having held bar licenses in four states (Mo, Il, Ct and Ga). Stan Faulkner uses this experience and focuses his skills in the pursuit of assisting individuals in probate (trust and estate) matters, guardianships and conservatorships, estate planning, business disputes and contract disputes. Published on May 06, 2024.

Integrating charitable giving into your estate plan can serve as a powerful expression of your values, allowing you to make a meaningful impact on the world even after you’ve passed on. At Perigon Legal Services, we recognize that every act of charity is a reflection of the heart and principles of the donor, and we aim to ensure that your philanthropic intentions are honored in your estate planning. 

Our legal skills facilitate the creation of a lasting legacy that adheres not only to your wishes but also maximizes tax efficiency for you and your heirs. Guiding you through the intricacies of estate planning law, we make certain that every facet of your estate plan works to the advantage of your heirs and philanthropic goals.

It’s possible to support charitable organizations while under income taxes and also provide for loved ones, and our tailored estate plans are designed to balance these objectives seamlessly. We extend our assurance that, as our client, we can meet your estate planning needs with the utmost attention to detail and excellence in service.

Whether aiding with the setup of a first charitable organization or foundation or ensuring your will reflects your charitable causes, we stand by your side, dedicated to realizing your vision for a better world.

    Understanding Charitable Giving in Estate Planning

    In estate planning, charitable giving involves the allocation of assets to nonprofit organizations as part of an individual’s final wishes. This not only serves humanitarian causes but can also provide considerable tax benefits, including a tax deduction.

    Benefits of Charitable Giving

    • Tax efficiency: Significant income tax deductions are received for the tax year in which the gift is made, and it can also lower estate taxes.
    • Legacy: Create a lasting impact in areas important to you.

    Forms of Charitable Contributions

    • Cash: A straightforward way to contribute.
    • Stocks and bonds: Donating stocks and bonds can help you avoid the payment of capital gains tax.
    • Real estate: A sizable asset, which, when gifted, may reduce the taxable estate substantially.

    Each of these can be aligned with your estate tax plan to reflect your values and intentions.

    Strategies for Incorporating Charitable Giving

    With a thorough understanding of the tax implications of giving, our experienced estate tax planning lawyer is adept at crafting strategies that benefit both our clients and the causes they care about. 

    • Charitable trusts: Understanding charitable remainder trusts (CRTs) and charitable lead trusts (CLTs) is vital. CRTs can provide income, with the remainder going to the charity, while CLTs allow charities to benefit first, with the remainder going to your heirs.
    • Donor-advised funds (DAFs): DAFs are flexible tools that facilitate your charitable giving over time.
    • Bequests: Including charities in your will or living trust is a common way to make a posthumous gift. They do not need to pay income taxes on assets they receive from your retirement account.

    Tax Implications and Benefits

    We emphasize the importance of crafting commercial real estate tax strategies to maximize the tax benefits of charitable contributions. Our clients are often able to reduce their estate taxes while supporting the causes that mean the most to them.

    Choosing the Right Charities

    First and foremost, we advise our clients to thoroughly research the charities they are considering. This includes reviewing their financial health, the effectiveness of their programs, and their overall reputation. When evaluating charities, prioritize those that are transparent about their operations and have a proven record of trustworthiness, such as organizations that:

    • Are tax-exempt: Choosing charity organizations that are tax-exempt under Section 501(c)(3), as recognized by the IRS, ensures that your donations are tax-deductible where applicable.
    • Have clear objectives: Charities should have well-defined goals and strategies that resonate with your personal mission.
    • Showcase tangible results: Look for evidence of concrete achievements that underscore their effectiveness.

    At Perigon Legal Services, we understand that incorporating charitable giving into your estate plan is not just about legacy; it’s about making a meaningful impact that aligns with your values. Selecting the right charities is a delicate process that deserves the same level of meticulous care and attention as every other aspect of estate planning.

    Maximize Impact

    To further the efficacy of your philanthropic efforts to one or more charities, consider the specific ways in which your funds will be used. It’s essential to determine if the charity aligns with the type and scope of work you wish to support — be it local initiatives or global movements.

    At Perigon Legal Services, we apply our comprehensive knowledge and empathetic understanding to assist you in selecting charities that truly honor your intentions. Our commitment to detail ensures that your charitable legacy will be a lasting testimony of your dedication to the causes close to your heart.

    Perigon Legal Services: Your Partner in Philanthropic Estate Planning

    At Perigon Legal Services, we take pride in our ability to guide our clients through the intricacies of charitable giving within their estate plans. Recognizing the complexity and personal significance of estate planning, we are committed to providing tailored advice that respects your charitable intentions and the legacy you wish to leave.

    • Planning your legacy: Our experienced team offers in-depth counsel on the most effective ways to integrate charitable strategies into your estate. By establishing clear financial directives within your will or trust, you can ensure that your altruistic aspirations are achieved. Whether it’s setting up educational scholarships, contributing to nonprofits, or supporting the arts, your vision for a better world can be perpetuated through us.
    • Customized charitable solutions: Navigating the realm of philanthropic giving can be complex, but with our legal know-how in drafting estate planning documents and charitable trusts, we simplify the process. Our clients often find comfort in the fact that their charitable acts will continue to make a meaningful impact long into the future. Trust us to craft a plan that aligns with both your personal values and the needs of the charities you cherish.
    • Consultation and implementation: Our personalized approach involves not only crafting detailed plans but also making adaptations as life’s circumstances evolve. This attentiveness is what distinguishes Perigon Legal Services from others. 

    Secure Your Wishes Today With Professional Help 

    At Perigon Legal Services, we comprehend the profound impact that charitable giving can have as part of a comprehensive estate plan. Our clients not only witness a reduction in their own taxable income and estate but also enjoy the warmth of leaving a lasting legacy.

    Our holistic approach to estate planning incorporates legal skills and a deep commitment to personal relationships, ensuring that your experience with us is built on trust and the shared aim to fulfill your charitable aspirations. 

    We invite you to contact us and explore the benefits of including charitable giving in your estate. Allow us to be your steadfast partner in ensuring that your generosity endures through a meticulously constructed estate plan.

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