Over the next few decades, it is estimated that trillion of dollars will be tranferred from the parents of baby boomers to their children. Charitable giving will play an enormous role in this tranfer of wealth. Although charitable giving provides many personal and tax benefits, it has a more fundamental benefit. It is voluntary giving. Involuntary giving results from overpayment of taxes. With proper planning, involuntary giving can be avoided. Individuals can give money from their estate to the charities they desire.
Many people during their lifetime engage in charitable giving activities. They make gifts to cancer research, heart associations, educational institutions, or well water projects. Many give to hospitals, churches, or other religious and cultural institutions. Others have long term relationships with charities and want to continue charitable giving upon their death.
Over the next few days, I will provide you with the ways to engage in charitable estate planning.
Many people during their lifetime engage in charitable giving activities. They make gifts to cancer research, heart associations, educational institutions, or well water projects. Many give to hospitals, churches, or other religious and cultural institutions. Others have long term relationships with charities and want to continue charitable giving upon their death.
Over the next few days, I will provide you with the ways to engage in charitable estate planning.
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