Although planned charitable giving isn’t part of every estate plan, it should be! In addition to providing donors with an opportunity to support to the entities and causes closest to their hearts, planned charitable giving can also yield important tax benefits during the donor’s lifetime or for their estate.

Depending on a donor’s specific circumstances (and in some cases, the preferences and needs of the entity the donor plans to benefit), there are many options for intervivos and posthumous gifting. The donor’s tax and financial advisors can provide crucial insight as to which options may work best, and the donor’s lawyer can advise the donor on what needs to be done to ensure the plan comes into effect.

The donor’s lawyer can also aid the donor in determining the practical considerations of planned charitable giving. When gifting via will, for example, the gift of a specific asset, a set amount of cash, a share of their residuary estate, or a charitable remainder trust may be a perfect solution for some will-makers, but not for others.  

Whether you intend to make a charitable gift during your lifetime, on your death, or both, we are here to help. Call or email us today to find out more!

This article is intended for information purposes only and should not be taken as the provision of legal advice. Grace C. Cleveland is a lawyer with the law firm of Cleveland Doan LLP and can be reached at (604)536-5002 or grace@clevelanddoan.com.