Charitable giving can play an important role in many estate plans. Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid capital gains tax, and reduce the amount of taxes your estate may owe when you die.
There are many ways to give to charity. You can make gifts during your lifetime or at your death. You can make gifts outright or use a trust. You can name a charity as a beneficiary in your will and even designate a charity as a beneficiary of your retirement plan or life insurance policy. Also, if your gift is substantial, you can establish a private foundation or donor-advised fund. Read More…
What to learn more about charitable gifting?Check out the Charity Navigator, “Your guide to Intelligent Gifting" Click Here.
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