Charitable Gift Planning

An individual who wants to make a donation to a charitable organization will want to do so in a way that makes the most economic sense for both the donor and the organization. Sometimes, the answer is as simple as writing a check. But often, with a little more thought, a more beneficial solution emerges. For example, the donor might be able to make a larger gift to the charity if the gift is structured in a little different way.

As a general rule, creative charitable gift planning techniques will not result in you and your family profiting from charitable giving. If your sole goal is to benefit yourself and your family, then charitable gift planning is not for you. But if you have independent charitable goals, then appropriate charitable gift planning can be a win-win for you and the charitable organizations, at the expense of the Internal Revenue Service.

Another general rule: you will get more enjoyment and tax advantage from giving now rather than at your death. Even if you think you can’t afford it, there are techniques to help you commit the gift now (and get the tax breaks now) but still keep the income from the gift while you and your dependents are living. This is called “planned giving.”

Just a few of the topics that we might discuss are:

What charities are you interested in helping?
What is your current involvement with these charities?
How much are you thinking of giving?
Do you want to give now or at your death?
Do you want to involve your family in the giving process?
Do you want or need to keep the income from a major gift that you
    make now?
Are you thinking of creating your own foundation?

Some of the additional documents that we routinely use in charitable gift planning are:

• Declaration of Gift
• Charitable Gift Annuity
• Charitable Remainder Trust