Estate planning services can help people structure donations to support an important charitable cause while optimizing tax deductions for themselves.
With the New Year ahead of us, many people take a moment to re-evaluate the way they are living and their goals for the future. Often, this is a time to refocus on health, family, and our interactions with others. The New Year is the perfect time for implementing new plans and taking steps to becoming a better person.
Do you want to become more involved with your community? Have you always wanted to support a greater cause? Many people feel the urge to help make a difference in the world but do not know where to start. However, with some careful estate planning, you can set up a charitable giving process for the program or project of your choice. Whether you want to help provide clean water to third world countries, fund medical research, or support a community center in your neighborhood, there are effective ways for structuring your donations so that everyone benefits.
Once you have identified the cause of your choice, you need to consider what your intended contribution will be. Do you plan to make ongoing monetary donations, are you considering funding a specific project, or do you have assets or services to donate? If you can, it is helpful to contact the charity or non-profit you have selected and ask what needs the program has that you can best support. By working together with the administration team and your financial planner or estate planning attorney, you can structure your donation so that you can optimize the available tax deductions and ensure the program you donate to is able to optimize your gift to meet their needs as well.
There are many ways you can give to a non-profit. While most people initially consider a one-time cash donation, there are many other creative ways to make a difference. For example, you can provide:
Speak with a professional estate planning attorney to learn more about creative ways to support charitable causes. The only limit is your imagination, and with careful planning, your generous gift will provide you with positive tax deductions while benefiting an important cause.
Michigan Legal Solutions
Our experienced attorneys are committed to providing our clients with the guidance and support that they need to resolve their estate planning issues. With over five decades of serving clients in Southeastern Michigan, the attorneys of Michigan Legal Solutions (Seglund Gabe Quinn Elowsky & Pawlak, PLC) have the knowledge and resources to resolve your issues.
No two families are alike and our attorneys are qualified to handle every type of estate planning situation, no matter how confusing or complex it may seem. We stay up to date on state and federal laws concerning estate planning and the latest laws regarding Medicare changes, Medicaid changes or nursing home issues. Our attorneys will provide you with the guidance you need and the service you expect so that you and your family get the result you want and the protection that you deserve.
Michigan Legal Solutions
28345 Beck Road, Suite 401
Wixom, MI 48393
Phone: (248) 869-0030
Fax: (248) 869-0039