Charitable Planning

Many people think of philanthropy and estate planning as separate endeavors. They do not have to be. With thoughtful charitable planning, giving to causes you care about can also reduce your tax burden, generate income, and leave a lasting legacy for your family.

Our attorneys bring firsthand knowledge of charitable giving strategies to this work — including experience advising nonprofit organizations on tax-wise giving — and will help you find the approach that fits your goals, your financial picture, and your values.

Why Charitable Planning Matters

Most charitable gifts provide an immediate income tax deduction. Some also defer or eliminate capital gains taxes on appreciated assets, increase income, and reduce estate taxes. If given the choice between paying taxes — involuntary philanthropy — or making a charitable gift on your own terms, most people prefer the latter. Charitable planning puts you in control of who benefits from your generosity and how.

An often-overlooked benefit: charitable planning can pass an ethical and moral legacy of giving to your children, grandchildren, and beyond.

Charitable Planning Strategies

Charitable Remainder Trust

A charitable remainder trust provides an immediate income tax deduction, a lifetime stream of income to you or a designated beneficiary, and a deferral of capital gains taxes on contributed property. At the end of the trust’s term, the remaining assets pass to the charities you have designated.

Charitable Gift Annuity

A simpler arrangement in which you make a gift to a charity and receive fixed income payments for life in return, along with an immediate partial income tax deduction.

Charitable Lead Trust

Creates an income stream to one or more charities for a term of years. At the end of the term, the remaining assets pass to your children or other beneficiaries with minimized estate and gift tax consequences. Particularly effective when interest rates are low.

Donor Advised Fund

Allows you to make a large charitable contribution in a high-income year, take an immediate deduction, and then direct gifts to specific charities over time at your own pace. Combines maximum income tax savings with full flexibility over timing and recipients.

Integrating Charitable Planning with Your Estate Plan

Charitable planning works best when coordinated with your overall estate plan — including beneficiary designations, trust structures, and retirement accounts. Our attorneys will work with you to identify the strategy or combination of strategies that aligns with your charitable goals and your family’s needs.

Contact Lighthouse Legal Group

Our attorneys are ready to help. Call us at 407-863-6175 or visit lighthouselegalfirm.com to schedule a consultation at our Orlando office.