For some clients, charitable giving is all about a favorite cause with a charitable purpose. For others, it is all about planning to minimize estate tax, or to maximize income tax deductions. However you approach charitable giving, I can work with you to achieve your goals. Before you get overwhelmed with charitable planning strategies, we will focus first on the basics of your situation. There are many important questions we will discuss to help your family identify the best charitable planning strategies for your needs.

I encourage and assist the practice of incorporating charitable giving in estate plans. As a sitting board member for a local charity which operates to feed, clothe and rehabilitate homeless people, I am eager to help you find your cause. In addition to the many personal rewards inherent in making a charitable gift, most gifts also provide a current chartable income tax deduction. Some charitable giving strategies (such as charitable remainder trusts (CRT)) also can provide substantial savings on capital gains tax, increase income, and provide you, or whomever you designate, with an income for life. Additionally, these types of gifts may provide an estate tax deduction.

A CRT or a charitable gift annuity allows for an immediate income tax deduction, a lifetime stream of income, and a waiver of capital gains taxes owed on contributed property. This is particularly effective when considering selling highly appreciated assets such as stock or real estate obtained initially at a low cost. Another option is a private foundation, which can provide considerable freedom to control amounts given by placing restrictions on how your gifts are used by charities. Another option is a donor advised fund which allows you to maximize your income tax savings on your regular monthly or weekly contributions to church or charities.

Whatever your needs or orientations are to charitable giving, I can help you find the structure that will work best for you and your family.