Estate planning isn’t just about passing assets to family—it’s also a powerful tool for charitable giving. By incorporating philanthropy into your estate plan, you can leave a lasting legacy while maximizing tax benefits and ensuring your contributions align with your values. Here’s what to consider when planning for charitable giving.
Legal Considerations for Philanthropic Estate Planning
- Bequests in a Will – A straightforward way to give is by including a charitable bequest in your will, designating a portion of your estate to your chosen charity.
- Charitable Trusts – Structuring a trust allows financial support for charities while also benefiting heirs and reducing estate taxes.
- Beneficiary Designations – Naming a charity as a beneficiary in life insurance policies or retirement accounts ensures a smooth transfer of funds.
- Donor-Advised Funds – A flexible option that enables individuals to contribute to charities over time while receiving tax deductions upfront.
- Tax Benefits and Incentives – Thoughtful estate planning can help minimize estate and income taxes while maximizing charitable impact.
Expert Legal Assistance
For professional estate planning services, contact The Eastman Law Firm:
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Name: The Eastman Law Firm
Address: 4901 W. 136th Street, Ste. 240Leawood, Kansas66224
Phone Number: (913) 908-9113
Website: www.theeastmanlawfirm.com
