My wife and I write several checks each year to our favorite charities. These charities do so much good; we feel our support can make a difference, no matter how small. But we do not want those good deeds to “lose out” if we happen to pass away. So our estate plan includes gifts to these charities.
Think about your favorite charities: Best Friends, American Heart Association, Make-A-Wish Foundation. . . . How much do you support them now? Have you made provisions to give some support after you die?
The simplest way to achieve your charitable wishes is to include specific bequests in your trust. Simply name the charity or charities that mean the most to you, and name the dollar amount or percentage that you would like to donate to their cause.
There are many advanced techniques if income tax, capital gains tax or estate taxes are an issue or concern. These techniques enable more of your estate to go to your charities and your loved ones, rather than to the government in the form of taxes.
So make an appointment to talk with one of our Estate Planning attorneys to see the best way for you to keep your charitable giving alive, even after you die. To schedule your free consultation contact us today at 888.222.1328.
Contributed by MH Albuquerque, Las Cruces and Santa Fe Estat Planning Attorney James P. Plitz
What the Attorneys of Morris Hall Can Do For You:
The attorneys at Morris Hall have 100’s of years of combined experience ensuring that families’ assets are protected from probate, unnecessary taxes, creditors, ex-spouses and Medicaid spend-down. The attorneys also help those in Arizona and New Mexico to apply for and receive Medicaid assistance and Veterans Benefits. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Cave Creek, Tucson, Prescott, Flagstaff and Arrowhead. Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe. Contact us today at 888.222.1328 to schedule an appointment!
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.