Charitable planning is the support and donation of money to charities which are important to you and your family. People often donate to charities that are close to their heart or meaningful to their community.
Many people incorporate charitable planning into their estate plan not just as a meaningful way of charitable giving, but also as a way to continue their legacy.
Charitable planning can be in the form of donating to existing public charities or creating a charitable foundation in your name. A good estate plan often includes charitable gifts to help manage taxes, shift assets and transfer wealth while simultaneously contributing to a cause they care about.
Charitable giving is a way to give back during your life and to uphold your legacy once you have passed on.