Helping You Support The Causes You Value Most
Charitable planning can be a critical part of creating a comprehensive estate plan. Developing a plan for your assets to support causes you care about means you can leave a lasting impact on the organizations that match your values.
I founded the Law Offices of Sander S. Straus to help clients learn what options are available for supporting charities after they pass away. Whether you want to support a specific cause or create a legacy of giving, there are several options to consider, including:
- Land trusts are charitable organizations that protect natural and cultural resources by holding and managing land or conservation easements. Donating land or a conservation easement to a land trust can ensure that your property is protected for future generations while also receiving significant tax benefits.
- Community foundations are charitable organizations that pool donations from individuals and corporations to support a variety of philanthropic causes in a specific geographic area. By donating to a community foundation, you can support a variety of causes in your community while also receiving significant tax benefits.
- Religious-affiliated groups often have charitable foundations that support various causes, including education, health care and social services. By donating to a religious-affiliated group, you can support causes that align with your values while also receiving significant tax benefits.
- Universities also often have charitable foundations that support various causes, including scholarships, research, and community outreach programs. Donating to a university foundation can help higher education and research while receiving significant tax benefits.
- Donor-advised funds are a charitable giving account that allows you to make a charitable contribution and receive an immediate tax deduction. Additionally, you also have the flexibility to recommend grants to specific charities over time.
- Charitable remainder trusts allow you to donate assets to a charity while also providing you with a stream of income for a set period of time. Once the trust period ends, the remaining assets are transferred to the charity.
- Charitable lead trusts are the inverse of remainder trusts, providing a charity with a stream of income for a set period of time. Once the trust period ends, the remaining assets are transferred to your heirs.
- Life insurance policies can be donated to a charity by making the charity the beneficiary of the policy. This allows you to support a charitable cause while receiving significant tax benefits.
- Charitable gift annuities are contracts between you and a charity that provide you with a guaranteed income stream for life in exchange for a donation to the charity.
- Charitable bequests are provisions in your will or living trust that direct a portion of your estate to a charitable organization upon your death. This allows you to support a charitable cause while providing significant tax benefits to your estate.
As an experienced attorney, I can help you navigate the complexities of charitable giving and develop a plan that aligns with your values and goals. I can also help you understand the tax implications of your gifts and ensure that your charitable giving is structured to protect your assets and maximize your tax benefits.
Add Charitable Giving To Your Estate Plan
If you want to make a lasting impact on the world, philanthropic planning is an excellent way to achieve your goals. By working with an experienced attorney, you can develop a plan aligning with your values and financial goals while providing substantial tax benefits. I am here to help you every step of the way, offering a customized experience with consistent follow-up, including complimentary consultations and weekend appointments. To make an appointment in my Las Vegas office, fill out this short contact form or call 702-444-0808.