Leave a Lasting Legacy

Naming a charity as a beneficiary on IRA or 401(k) accounts avoids the taxation of the account, as charities are not subject to income tax. This can create an opportunity for you to reduce your heirs tax burden on the estate and maximize charitable giving. 

A Donor Advised Fund is an account that allows the donor to receive an upfront tax benefit and designate a charity to receive discretionary grants from that fund while it continues to grow over time.

 By donating appreciated assets, you can contribute those assets (e.g. stocks or property) to a DAF or donate them directly to a charity. By doing this, you may be able to take a tax deduction based upon the value donated. 

A CRT is an irrevocable trust that allows you to benefit from an upfront tax deduction upon donation of assets, distribute income to beneficiaries, and donate the remainder of the assets to charity after a set period (e.g. someone's lifetime).

A Charitable Lead Trust allows donations to be made to an irrevocable trust that designates a charity to receive income from the trust every year. After a certain period, the income stops, and the trust is distributed to named beneficiaries or the donor.  

 With Qualified Charitable Distributions, you can elect to have your Required Minimum Distribution (RMD) from your IRA or other retirement account donated directly to a charity. The donation made will not be shown as income from your RMD when donating to a charity.