Is there a charity or organization that you hold near and dear to your heart? Maybe it’s one you contribute to regularly and you are now looking for further ways to give back to this important cause.
If so, you may want to consider naming your favorite charity or organization in your will so you can leave them a portion of your estate once you pass away.
Naming a charity in your will has countless emotional rewards, but there are additional financial benefits that your estate and family can enjoy.
Here are just a few good reasons to bequeath money to a charity after you pass away, according to the Director of Estate and Asset Services for the American Cancer Society, John Stewart:
– Charitable gifts are almost always 100% deductible when they are made through a Last Will and Testament
– The donation can be flexible and revocable
– It is completely up to the donor to decide how the funds will be used
– Leaving money to a charity in your will could put your estate into a lower tax bracket
– It’s an easy process – just name the charity and the amount or percentage in your Will
– You leave behind a legacy that will allow that charity to help others
Giving back is a priceless gift, especially when it gives a charity an opportunity to continue helping those in need.
For questions on how you can leave a portion of your estate to charity, contact our Newport Beach estate planning office at (949) 260-1400 to see if you qualify for a free Family Wealth Planning Session today ($750 value).