Can I Leave Money To Charity When I Die?

Maybe you started your life out with very little, you worked very hard your whole life, and obtained a sufficient amount of wealth. And now you'd like to give some of that wealth back to charity upon your death to possibly help others achieve the kind of success that you have. Good news, there are many possible ways to do this through various trusts that come with added benefits that may reduce estate, income, and capital gains taxes.

One such trust is known as a Charitable Remainder Trust. With this type of trust you can earn income for yourself and beneficiaries while you are still alive. After your death the remainder of the principle will be transferred to the charity. With this solid irrevocable trust you can be confident that the charity or charities of your choice receive the amounts you want them too. As well as providing the benefits of less tax burdens on your own family through reductions and annual income deductions.

Contact a professional estate litigation Attorney to discuss which type of charitable trust makes the most sense for you. The right professional can make sure you leave a lasting legacy as well as receive the lifetime benefits of donating to charity.

*This blog entry was not written by an Attorney and should not be constituted as professional legal advice.

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