How can you include charitable giving into your estate plan?

On Behalf of | Oct 4, 2019 | Estate Planning

How important is philanthropy to you? If you support causes now, then you may want to continue to support said causes, even after you pass away. Think about the charities and nonprofits that you support now. Will you leave behind a legacy? If you choose an estate plan, you can include charity.

Forbes explains how if you want to give to charity, then make sure that you develop an estate plan. If you die before you draft a will, your assets will go to your family. If you do not specify how to delegate your assets, then the court will decide. The court usually decides based on family relationships. If there is no will, there is no way for the judge to know your wishes.

In order to include charitable causes into your estate plan, you first need to decide which causes mean the most to you. You need to decide which causes you can continue to support. If you gave donations in the past, these donations will sometimes reveal which stores you felt the most passionate about. It can help you decide which charitable events to offer money to now.

Once you know the cause that you would like to support, you can select the assets that you want to give. You can discuss which assets you can donate and which will have a higher rate of acceptance from different charities. Charities come in all shapes and sizes. Some choose to offer charity to their church, school or an international organization.

None of the above information is considered legal advice. It is for educational purposes only.