Charitable giving is an excellent way to reward the people and institutions that have come to mean the most to you over the course of your life. When properly designed and implemented, a charitable giving plan can also provide significant tax advantages for your estate and ensure the recipients of your generosity, not the government, receive the largest possible portion of your gift.
Donating Assets to Charities
While there is certainly nothing wrong with simply giving cash to your favorite charity, it is possible to give much more to the causes that mean the most to you by giving appreciated assets instead. These can include anything from stocks with long-term gains to real estate, artwork or collectibles that have increased in value over the years. It is critical to keep in mind that while giving appreciated assets may be more profitable for you and your charity of choice, it can be extremely complicated. If done incorrectly, much of your gift will be lost to taxes and possibly even penalties.
Charitable Giving Attorney
As an Attorney, Chartered Financial Consultant and Certified Financial Planner, our firm’s founder Maureen Ward has extensive experience designing creative, highly effective charitable giving plans. She can help you accomplish all of your philanthropic goals and leave a lasting legacy on society—one that accurately reflects your values, wishes and hopes for future generations. Contact us today to schedule a meeting with Maureen to discuss your particular needs and goals.