Charitable Planning

Charitable Planning

Charitable planning is the process of planning out your charitable contributions from your estate when you die. Charitable planning is a popular way to give back to your community or even to a national non-profit and take advantage of the tax savings. Charitable planning uses a variety of financial and legal tools for charitable giving. Charitable planning will require the assistance of a qualified specialist. Charitable planning can utilize certain tax incentives to encourage charitable giving. Charitable planning covers the full range of giving by some or most individuals.


Charitable planning could include the transfer of appreciated assets with long term capital gains funded to a charitable trust and the gifting of life insurance policies to increase your charitable planning efforts. Charitable planning has some financial benefits to consider such as a possible reduction your income taxes, eliminating capital gains and federal estate taxes, as well as a possible increase to your annual income.  A charitable planning advisor can show you how these benefits of charitable planning could work for you.