Charitable Planning
Charitable planning for families is often designed to accomplish both charitable and tax objectives. Such planning includes, for example, family foundations and trusts benefiting both family members and charities. Charitable Planning is an important part of any sophisticated estate plan. The goals and objectives of a client can be passed on to future generations by using charitable planning techniques such as family foundations, charitable remainder or lead trusts and gifts to a community foundation. Direct gifts to a charitable organization such as a university, hospital, museum or other charitable entity often require proper planning and documentation.
We have set up numerous IRC 501(c)(3) organizations for non profit groups and individuals while leading them through the maze of both federal and state requirements. Setting up a charity requires specialized filings with both the IRS and the Attorney General’s office where the charity is located.
Foundations come in multiple forms. Determining the proper type of foundation requires knowledge of income tax, estate and gift tax and corporate law. Development of corporate structure requires the client to understand the different options to achieve their individual goals and objectives.
