Creating an estate plan often means providing for more than family, friends, and loved ones. Are you a resident of the state of Georgia who wants to include giving to a charitable organization in your estate plan? It can be easier than you think to leave preferred charities and non-profit organizations a portion of your estate. From tax benefits to a sense of personal fulfillment to improve daily operations, philanthropic contributions benefit many people. The charitable giving strategies you choose are easily documented in your estate plan with the help of an expert attorney.
Start your estate plan by selecting the organizations and charities you want to support. Medical research, faith-based organizations, environmental advocacy groups – choose a charitable cause that has significance for you. They may be groups you’re already working with and contributing to or groups who support the same causes you believe in. The next step is to decide how you want to contribute to these causes.
Once you’ve identified the organizations you want to support, you need to identify the ways you want to support them. In other words, do you prefer to gift them with cash or with assets? Most often, it’s better to donate assets versus cash. The value of assets appreciates versus the value of cash which impacts the estate’s taxes. Once that decision is made, you’ll need to decide if you want to support these charities through a will or a trust.
The final – and perhaps most important – step is to work with an attorney who has experience in estate planning and philanthropic giving. At Grissom Law, LLC, every member of our legal team and support staff has the skill and expertise you can rely on to ensure your final wishes are clear, concise, and carefully carried out. We understand the intricacies of Georgia law and the complexities of philanthropic giving. Contact us today and start creating your personal and philanthropic legacy.
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This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.