At Gudorf Law Group, LLC, our attorneys and financial professionals work with clients who have spent decades accumulating wealth for the benefit of their families and organizations and causes that are important to them. Planned gifts and charitable trusts allow them to fulfill multiple goals: receiving lifetime income; providing for family and future generations; supporting worthy charities; and minimizing tax consequences for themselves and their beneficiaries.
We meet with our clients to evaluate their needs and goals, and advise as to the charitable planning tools that will yield the most significant tax benefits for them and their families.
Planned gifts offer a variety of benefits, not least of which is the satisfaction of knowing you are supporting organizations that are important to you and your family. Depending on your need for income during your lifetime, your desire to preserve assets for heirs, and your tax situation, there are a variety of strategies for charitable planning. These include:
The tax advisory professionals at Gudorf Law Group can explore these and other options with you and explain the relative merits of each, including their impact on your overall tax burden.
Charitable planning helps your charities by providing them with predictable income, and sometimes by allowing them to receive income during your life, rather than waiting until you pass away. Charitable planning helps you minimize income tax by reducing taxable income during your life through deductible gifts. Planning also reduces gift and estate taxes, and reduces capital gains taxes as well when you donate property such as stock or real estate that has appreciated significantly since its acquisition.
Gudorf Law Group knows how important it is to our clients to continue to make a positive impact on their communities while also making wise financial and tax planning decisions . We look forward to partnering with you to advance your charitable planning goals. Contact Gudorf Law Group using our online contact form or at 937-898-5583 to schedule a consultation.