If given the choice between paying taxes (most often an involuntary act) or making a charitable gift (a voluntary act), most people would choose the latter because it gives them the benefit of knowing who the money will help and how it will be used. The former option, on the other hand, simply pays money to the U.S. Treasury for use as it sees fit.
Charitable planning increases the impact in those areas your family cares about most. You can make gifts of cash, stocks, bonds, real estate, or other assets in a variety of ways. Some of these ways can provide income to you during your life and the remainder to charity or can provide income to the charity with the remainder to your final beneficiaries, all while providing tax benefits today and possibly in the future.
There are many ways to make charitable gifts. Our attorneys are well-versed in the many flexible strategies utilized for those interested in philanthropic activities. Some of the options available to you include the following:
- Charitable remainder trusts
- Charitable lead trusts
- Charitable gift annuities
- Endowment funds
- Donor advised funds
- Conservation easements
- Gifts of life insurance
- Private foundations
With offices in Madison and Evansville, the attorneys at Wilson Law Group assist clients with Estate & Business Planning, Probate & Trust Administration, and Elder Law & Medicaid Planning throughout Southern Wisconsin.