Outright Gifts
If a taxpayer is looking to reduce the size of their taxable estate prior to death, they might want to consider gifting to their favorite charities while they are still alive. Public charity donations will allow the taxpayer to deduct their donation up to 50% of the adjusted gross income (AGI), and 30% for private charities.

For simplicity, some donors may elect to establish their charitable legacy as part of their estate plan, by leaving a charitable bequest through their will. A bequest to a qualifying charity entitles the decedent's estate to the estate tax charitable deduction. By including this in your will, it may take several forms, such as property, a fixed dollar amount or a percentage of the estate.



Charitable Remainder Trusts

Related Articles
  1. Insurance

    Using Life Insurance To Make Charitable Donations

    Your life insurance policy can be a great tool for charitable giving. Find out how.
  2. Retirement

    How to Minimize Estate Taxes via Charitable Giving

    Here are several ways to reduce your taxable estate while providing a gift to a worthwhile cause.
  3. Taxes

    Valuable Year-End Tax Moves for 2016 (Part Three)

    Here's a look at tax strategies for itemized deductions, charitable gifts and other tax credits.
  4. Taxes

    Tips on Charitable Contributions: Limits and Taxes

    An overview of the limits and tax deductions of charitable donations.
  5. Financial Advisor

    How To Plan For The Charitable Giving Boom

    Of the $58 trillion that will be passed over the next several decades, $26 trillion could go to charity. Here's how to plan for that huge shift.
  6. Managing Wealth

    It Is Better To Give AND Receive

    You give to benefit others, but there can be perks for you too.
  7. Retirement

    Gifting Your Retirement Assets To Charity

    There are several things to consider when it comes to this type of charitable giving. Make sure you're well informed.
  8. Taxes

    Are Your Heirs Legally Bound to Pay Your Charity Pledges?

    How to avoid a court battle over whether your estate is required to pay the charity pledges you made.
  9. Retirement

    Guiding Clients on Charitable Remainder Trusts

    Clients who wish to make donations to charity can reap an enormous tax deduction with charitable remainder trusts, but it must be set up correctly.
Frequently Asked Questions
  1. Where else can I save for retirement after I max out my Roth IRA?

    The first option to explore is to determine if you can contribute to a 401(k), 403(b), or 457 plan at work. If your employer ...
  2. How did George Soros "break the Bank of England"?

    In Britain, Black Wednesday (September 16, 1992) is known as the day that speculators broke the pound. They didn't actually ...
  3. What counts as "debts" and "income" when calculating my debt-to-income (DTI) ratio?

    It's important to know your debt-to-income ratio because it's the figure lenders use to measure your ability to repay the ...
  4. Who are Monsanto's main competitors?

    Learn about Monsanto Company's two main operating divisions and its main competitors within each sector, including The Mosaic ...
Trading Center