Charitable Planning

Charitable Planning

Planning your future charitable contributions as part of a comprehensive estate planning strategy during your lifetime allows you to create and leave behind a positive and continuing legacy. Properly planning and documenting to whom and how you wish your valuable assets distributed allows you to continue to contribute to organizations and causes that you value. Many of the charitable organizations that strive to make our world a better place rely on charitable contributions to continue their good works for future generations. Charitable planning, like all estate planning matters, requires partnering with a trusted and skilled estate planning attorney who not only knows the laws and the processes but listens to your unique goal and wishes as to the disbursement of your hard earned assets.

Charitable planning utilizes the same laws that govern trusts, wills, and estates. When combined with proper planning charitable contributions can have many positive tax benefits for your estate.  But, the laws governing trusts, wills, and all estate matters are strict in their requirements and leave no room for error.  And, as with most transfers of wealth, there are collateral tax consequences that need to be discussed and addressed with your attorney to ensure that the most is made of your charitable contributions. These laws all must be followed precisely and only a skilled and experienced attorney that is both detail oriented and maintains proper records will be of use to you in effectuating your wishes.

Using just any attorney, an attorney that you don’t particularly trust, or trying to document your wishes by yourself can be disastrous. Improper documentation of your wishes may result in your final wishes not being fulfilled or your wishes being contested in court. One single error can invalidate an entire will or trust rendering all of your careful planning useless. If this happens your family will have to deal with lengthy court proceedings and potential objections from others who did not know your ultimate goals, and the court will have to speculate as to your final wishes.

You worked hard during your life to obtain wealth. How you plan on disbursing these assets and to whom and how they shall be disbursed upon your death is serious business that requires the assistance of a highly skilled attorney specializing in estate planning. Your contributions to charitable causes also require advanced legal planning and proper documentation of your wishes.

It is wise to remember that a clear, concise, and comprehensive estate plan can only be accomplished during your lifetime; after you pass it is too late. If you don’t have your charitable planning set up yet or want to look at your existing documents to know they are created in a way that will reach your ultimate goals. Call Wilson Law PLC today at 866-603-5976 to set up your complimentary meeting to discuss your concerns and goals or fill out our contact form and we will call you to schedule your meeting.