Common Questions About Charitable Planning
As a firm that specializes in estate planning, our helpful legal professionals relish the opportunity to help you combine charitable giving with gaining tax benefits now and into the future. Orsbon & Fenninger, LLP can demystify the philanthropic planning process and explain the advantages of this form of strategic planning to realize financial objectives. Here are some explanations for frequently asked questions about charitable planning.
How Can I Incorporate Charitable Giving Into My Estate Plan?
There are several ways to include donations to charity into your estate plan. From donations of artwork to the formation of a private foundation, our estate planning lawyers can explain several different ways that you can give back through your estate.
What Is A Charitable Remainder Trust (CRT)?
A CRT is an irrevocable trust that can generate income for you, and after your death, your designated charity gets the assets that remain. It can allow you to avoid capital gains, estate and gift taxes on the sale of assets such as stocks. You can also get an income tax deduction on the value of your gift.
What Are The Tax Benefits For Donating To Charities?
There are several ways you can benefit from using tax-advantaged gifts. For example, those taking required traditional IRA withdrawals can take advantage of the qualified charitable distribution provision. This allows you to take the standard deduction on your taxes and get another tax break on up to 100,000 dollars annually. Our firm can look at your individual situation and goals to build a plan that meets your financial objectives while making a positive impact on your charities of choice.
Get Individualized Answers To Your Questions
If you are ready to learn more about how charitable planning can impact your investment strategy, give Orsbon & Fenninger, LLP, a call at 888-314-8134, or contact us online. We can set up an initial consultation to discuss how charitable planning can work for you.