Explore charitable ways to celebrate Valentine’s Day! There are several gift-giving strategies to make an impact with your estate. On Valentine’s Day, consider leaving a philanthropic legacy that expresses your values and helps the charities you love while reducing your taxable estate. There are many options for incorporating charitable giving into your estate plan, which include:
- Bequests Through Wills: Specify in your will the amount or percentage of your estate you wish to leave to a charity.
- Charitable Trusts: Donate assets to a charity while retaining some rights to the income those assets generate during your lifetime.
- Donor-Advised Funds: These are funds you can contribute to over time, receiving tax benefits each time you do. Upon your death, the balance of the fund is distributed to the charities you have pre-selected.
- Retirement Plan Assets: By naming a charity as a beneficiary of your retirement plan, you can provide a significant donation to your chosen cause and potentially reduce estate taxes.
- Life Insurance Policies: By naming a charity as a beneficiary in your life insurance policy, you can leave a considerable sum to a charitable organization. This method does not reduce your current income, and you may enjoy tax benefits as well.
These are just a few of many available planned giving strategies you can use. Charitable giving is a wonderful way to support your favorite causes. The Law Offices of Max J. Paul can explore these and additional strategies with you and provide guidance based on your unique circumstances. We look forward to counseling you through tax laws and compliance matters as well.
Our law firm assists in the careful drafting of wills, trusts, or other legal mechanisms to effectuate your charitable intentions while minimizing potential disputes. The Law Offices of Max J. Paul plays a crucial role in transforming your charitable aspirations into legally sound components of your estate plan.
Let us help you find the peace of mind you need with a comprehensive estate plan that includes your charitable giving. Our law firm has been protecting the interests and ensuring the legacies of Floridians for nearly two decades. Call 561-807-1977 or email max@maxjpaul.com. Streamline your estate plan to include charitable giving to the people, places and organizations you love. Contact us today.