Charitable Giving
When the time comes to think about all that you have done and the assets you have accumulated, your thoughts may turn to the idea of charitable giving. Many people every year leave modest and large sums to churches, charities and nonprofit groups.
Giving to charities is not always as simple as it sounds; it goes far beyond simply declaring that you would like to give a set amount of money to your local church or charity. Once you have identified an organization you would like to donate to, it is important to find out the best way to structure your gift.
Making a gift to a charitable organization can be a way of maximizing your tax and estate planning benefits. A gift may be a one-time donation, a series of payments over a set period, or ongoing support. It may be a gift the charity can use now or a “deferred gift ” available to the charity in the future.
Giving to charities is not always as simple as it sounds; it goes far beyond simply declaring that you would like to give a set amount of money to your local church or charity. Once you have identified an organization you would like to donate to, it is important to find out the best way to structure your gift.
Making a gift to a charitable organization can be a way of maximizing your tax and estate planning benefits. A gift may be a one-time donation, a series of payments over a set period, or ongoing support. It may be a gift the charity can use now or a “deferred gift ” available to the charity in the future.
