Gratitude & Giving: Securing Your Charitable Legacy This November
Dear Friends,
As we settle into another holiday season, we cannot help but be reminded of the importance of gratitude and reflection. This time of year offers an opportunity to not only appreciate what we have, but to consider how we can share our good fortune with the causes we hold dear.
A Legacy of Generosity: Planning Your Charitable Impact
At Eckert Byrne, we have the privilege of helping you craft estate plans that not only secure your and your family’s future, but also reflect your philanthropic goals. Incorporating charitable gifts in your legacy planning offers more benefits than you may realize.
The act of giving can bring profound personal satisfaction and a sense of connection to causes you care about. Your contributions can make tangible, long-lasting differences for the organizations working to address issues important to you. In addition, strategic charitable giving can offer significant tax benefits, potentially reducing your income tax and estate tax liabilities.
Exploring Charitable Giving Options
There are a few different paths to take when giving to charity, and each offers unique benefits. Options include the following:
Outright Donations: Make direct donations of cash or assets during your lifetime
Qualified Charitable Distributions: If you have begun taking RMDs from your retirement accounts, you can direct your RMDs to qualified charities and receive an income tax deduction
Donor-Advised Funds: A flexible charitable giving tool that allows you to contribute money, claim charitable income tax deductions, and direct money to charities at your own pace
Bequests in Your Estate Plan: Designate a portion of your estate to charity via the provisions of your revocable living trust or by naming charities as beneficiaries on your retirement accounts
Whether you have a specific organization in mind or are seeking general guidance on how to align your philanthropic goals with your overall financial plan, we are here to assist you. To schedule time to discuss how you can turn your gratitude into impactful giving, please feel free to reach out to our office.
Thank you for your continued trust and partnership. Wishing you and your loved ones a season filled with gratitude and connection.
Sincerely,
Anna