Charitable Gifting

Touching the lives of others…

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Charitable Gifting Options

Many of our clients find great fulfillment in sharing their good fortunes with others. If you wish to pass along assets to family members or give a large gift to a preferred charity, you should be careful about your strategy. The right gifting plan will accomplish your goals while making the most of your assets.

Insurance and Investments

In order to meet your legacy goals, you must first choose the right investment or income-producing vehicles. Depending upon your needs and objectives, we can guide you toward a variety of options such as:

  • Annuities
  • Life Insurance
  • Mutual Funds
  • Bonds
  • Alternative Investments
  • Brokerage Accounts
  • Fixed Income Investments

Charitable Remainder Trusts

This type of trust can help you meet your charitable giving objectives. A charitable remainder trust serves as a sort of “savings account” for your gifts. You provide funds to the trust and receive a fixed amount or percentage of the trust’s income each year for either an established period of time or a lifetime. Meanwhile, the remainder beneficiary receives your designated charitable gift after you pass away. This type of trust is popular due to its numerous tax benefits.

Cash Gifting

There may be times that you want to share your assets with children, grandchildren, or someone else by writing checks or giving cash. However, these types of gifts can trigger tax implications, and create surprises during tax season. It’s better to consult with our professionals before writing those checks because your gifts could be used to reduce the size of your estate for tax purposes. Special rules and exclusions apply, so the guidance of a professional is key to sharing your good fortune while maintaining important benefits for yourself.

Family Foundations

Some people choose to spread their charitable gifts across several different organizations. In this case, establishing a Private Family Foundation might be the most efficient strategy. The foundation is considered a charity for tax purposes, meaning all gifts to the foundation can help to lower tax liability. You can even transfer highly appreciated assets to the foundation, thereby avoiding capital gains taxes, and then you can use that contribution as a tax deduction. It’s easy to see why family foundations are a popular choice for those with considerable assets. We can guide you in setting up or managing your foundation and help you choose the best strategy for making donations.

Donor Advised Funds

A Donor Advised Fund works a bit like a charitable savings account. You place assets into the fund while receiving a valuable tax deduction for your gifts. Then, you can make recommendations for grants from the fund, when the charitable mood strikes you. This allows you to make one large charitable donation per year, but spread the actual donations across different charities on the time schedule of your choosing.

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