How Does Charitable Giving Fit into Your Estate Plan?

Many people consider that philanthropic and charitable giving are a component of estate and tax planning. But it is important to reframe, how you consider this. Charitable giving can actually be the catalyst.

Charitable giving should not be viewed as a by-product of your overall estate plan. The impact of world-wide events such as; social inequity and COVID-19 has led to heightened awareness for people who are looking for ways to leave behind a legacy and to make an impact.

The alignment of values with the legacy to leave behind has become increasingly important for individuals and are causing many people to step back and think about their comprehensive planning goals and how charitable giving fits into that.

There are many different options for passing things on when it comes to assets given to charity. This can include using tools such as charitable lead annuity trusts, charitable gift annuities, and charitable remainder unit trusts. Using these complex and more advanced estate planning strategies means that its beneficial to discuss your individual charitable giving goals with the support of an experienced attorney and to continue to update your plan as needed.

The support of a lawyer can be instrumental in answering many of your most common questions around philanthropic giving and can assist by providing you with a roadmap you need for the future.


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