Charitable Giving
Turn Your Values into a Lasting Impact
What is Charitable Giving?
Various solutions allow individuals and families to structure their lifetime giving and designate their gifts at death in a way that maximizes the benefit to their families and the causes that are important to them. Many of our clients have come to see family philanthropy as a way to instill values in the lives of a younger generation of family members.
Tools Used for Charitable Planning
- Charitable Remainder Trusts
- Charitable Lead Trusts
- Lifetime and Testamentary Charitable Gifting Strategies
- Non-Profit Corporations
- Family Foundations and Supporting Organizations
- Donor Advised Fund
Why Work With a Charitable Planning Attorney?
If you’re considering charitable giving as part of your legacy, working with a dedicated charitable planning attorney ensures your contributions are structured to maximize both family benefits and philanthropic impact. At WCSS, we guide individuals and families through trusts, foundations, and other tools to make charitable planning both effective and meaningful.
Frequently Asked Questions
How does a Charitable Remainder Trust work?
A Charitable Remainder Trust (CRT) allows you to donate appreciated assets, receive a tax deduction, and generate income for yourself or others for life or a term of years. After that, the remainder goes to charity.
What are the advantages of selling an appreciated asset in a Charitable Remainder Trust?
You avoid immediate capital gains tax, receive a charitable deduction, and convert the asset into a lifetime income stream. This is especially valuable for clients selling farmland, timberland, or closely held businesses.