Most individuals wish to ensure that they have adequate assets to provide for their lifestyle during their life and to ensure their children's financial needs are met after their death. Beyond that common wish, many individuals have varying goals, which may include charitable objectives.
Whether you have been involved in a charitable activity that you would like to see continued beyond your lifetime or whether you would simply like to consider ways of integrating charitable giving into your family's wealth management plan, the attorneys at Jeffrey Burr, Ltd. can assist you in meeting your goals.
In addition to the obvious humanitarian and moral benefits of private philanthropy, charitable transfers have the potential to generate substantial federal income and estate tax savings. A wide variety of techniques may be used to maximize these saving opportunities, but the ultimate results may be achieved only by careful planning and analysis. Individuals should not make important financial decisions, including the decision to make significant charitable contributions, without considering the effect they will have on their personal and family wealth planning.
Our attorneys can advise you on questions such as:
- What will be the best way for me to provide for myself and for my family while still meeting my charitable objectives?
- Should my charitable giving program be accomplished during life or postponed until death?
- Should my charitable giving program be implemented through outright gifts or through deferred giving?
- What will be the income, gift, and estate tax ramifications of my charitable giving program, and do I need to be concerned about the generation skipping transfer tax?
