As Thanksgiving rolls around, it’s a time for gratitude, reflection, and giving back. Many Coloradans feel a deep connection to the causes they care about and want to leave a legacy that reflects those values. Incorporating charitable giving into your estate plan is a powerful way to make a lasting impact. At Skipton Law, we help clients explore charitable giving options that align with their estate planning goals and the causes closest to their hearts.
Here are a few charitable giving strategies to consider:
1. Donor-Advised Funds
A donor-advised fund allows you to contribute to a fund now and decide later which charities to support. You receive an immediate tax deduction, and you can distribute the funds over time to various organizations. This flexibility is ideal for those who want to support multiple causes throughout their lifetime.
2. Charitable Remainder Trusts
With a charitable remainder trust, you can receive income from the trust during your lifetime, and when you pass, the remainder goes to the charity of your choice. It’s a win-win: you benefit from the income while knowing that your legacy will support a cause you believe in.
3. Bequests
A bequest is a simple yet powerful way to leave a charitable legacy. By including a gift to your favorite charity in your will, you ensure that the causes you care about continue to thrive after you’re gone. Whether it’s supporting a local Colorado charity or a national organization, bequests make a lasting difference.
4. Legacy Planning
At Skipton Law, we help clients develop legacy plans that include charitable giving as part of a larger estate strategy. From family foundations to charitable trusts, we can help you create a plan that reflects your values and ensures your impact is felt for generations to come.
Want to leave a lasting legacy? Request a consultation to explore charitable giving options that align with your estate planning goals.