Options for Charitable Estate Planning

Childless seniors are more likely to leave money and assets to charity after they die than any other group. If you fit into that category and are wondering what to do with your charitable planning, here are a THREE ways to give back:

  1. ESTABLISH A TRUST: a charity (or charities) can be the beneficiary of either a revocable or irrevocable trust. You stay in control during life while leaving a charitable donation that can be managed the way you want without involving the probate court.
  2. CHOOSE A CHARITABLE LEAD TRUST: you can make a gift that pays income to a charity for a set period of time, then reverting back to you or to other beneficiaries.  While paying out to the charity you can get a significant tax break. The initial gift can be made during your lifetime or after death.
  3. DECIDE UPON A CHARITABLE REMAINDER TRUST: an irrevocable trust, which dispenses income to beneficiaries for a set time and then donates the remainder to a designated charity.

You can learn more about how best to plan for the future by contacting us to schedule an Estate Planning Session, where we can identify the best strategies for you and your loved ones.