Legacy gifts are a meaningful part of many estate plans. A lump-sum gift can be made via a bequest in your will, but there are also several tools available that allow donors to maximize the benefits of charitable contributions. Charitable gift annuities are one such option. This blog, the seventh in a series about charitable estate planning, discusses charitable gift annuity pros and cons.

Family foundations are a remarkable but often overlooked charitable giving option. Families wishing to put endowment-level assets to use for charitable purposes can realize tax savings and retain complete control in defining and pursuing philanthropic efforts. While strict federal and state regulations govern the establishment and operation of a family foundation, this means of charitable giving allows the family continuing control to define and direct its benevolences.

The hospitality industry employs millions and is an important economic driver in the United States and throughout the world. The sector also offers and supports the recreational and leisure activities that improve our quality of life. However, the industry faces serious challenges. Business owners and leaders must be proactive and creative in pursuing strategies to overcome these difficulties. Hospitality mergers and acquisitions (M&A) can be a good solution for some businesses, but these deals must be pursued with the highest level of attention to planning and execution. 

Many people wish to include charitable giving in their overall estate and wealth planning. The interests of the donor, the donor’s family and heirs, and the charities involved can all be furthered through the benefits of planned giving. A charitable pooled income fund (PIF) is one of several tools available for those who want to incorporate charitable gifts in their wealth planning. 

As each year comes to a close, many engaging in wealth transfer planning also want to advance causes close to heart in ways that maximize tax advantages. A reminder about charitable giving comes early in the month on Giving Tuesday, the first Tuesday after Black Friday. Giving Tuesday is a day to remember the power of charitable giving and to take action in your charitable gift planning. Using the right tools, such as charitable trusts, you can maximize the benefit for the charity and secure tax advantages for yourself, preserving wealth for future charitable giving and your heirs. As you wind up the calendar year, consider how charitable trusts may be the ideal vehicle for your purposes.