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. Financial Advisor

    Top Tips for Maximizing Charitable Deductions

    Charitable donations can be a great financial planning tool. Here are some ways to make the most of them.
  3. 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.
  4. Taxes

    How to Optimize Charitable Giving

    Thinking of donating to a charitable organization before year end? Here are some guidelines.
  5. Taxes

    Charitable Giving: Benefits of Donor Advised Funds

    Donor advised funds are often overlooked as a charitable giving tool.
  6. Taxes

    Deducting Your Donations

    Generosity may be its own reward, but some charitable giving also provides personal tax benefits.
  7. 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.
  8. Taxes

    How to Give a Tax-Saving Gift Before The Year Ends

    Giving to charity and family members before year-end can help you save on 2016 taxes.
  9. Taxes

    Donations: How To Maximize Your Tax Deduction

    Donating to charity is a great way to show your giving spirit and save money on your taxes at the same time.
  10. Managing Wealth

    It Is Better To Give AND Receive

    You give to benefit others, but there can be perks for you too.
Frequently Asked Questions
  1. Why Do a Reverse Merger Instead of an IPO?

    Reverse mergers are often the most cost-efficient way for private companies to trade publicly.
  2. Determining a Firm's Percentage of Credit Sales

    Find out where to look for information about determining a company's percentage of credit sales.
  3. What Does the Diluted Share Price Reveal?

    Learn how diluted share price affects earnings and the company's overall financial performance.
  4. How Can Institutional Holdings Be More Than 100%?

    No entity can own more than 100% of a company's outstanding shares, but it can be reported that way.
Trading Center