Charitable Planning Attorneys in Madison
Call (608) 344-5491 for a Free Consultation
As the recent tragedy of the pandemic of COVID-19 revealed, disaster can strike the world at any time. When this occurs, we do not look to superheroes with miraculous powers such as laser-vision or lightning speed to save us. Instead, it is up to ordinary people to contribute in any way possible to protect the most vulnerable and aid those who are suffering.
Here at Krause Donovan Estate Law Partners, LLC, we encourage those who are involved in estate planning but simultaneously desire to dedicate some of their finances towards those who need the most. As fellow humans, we have the responsibility to care for the world, or at least our own corner of it, to the best of our ability. If you are desiring to leave a legacy to communities and individuals who need it the most, get in touch with our charitable planning lawyers in Madison.
Call us today at (608) 344-5491 to get advice from our supportive estate planning attorneys about planning for charity.
Organizing Charitable Planning
When it comes to selecting a charity to donate to, it can be quite difficult to decide, since there are so many communities that need aid and so many valuable and worthy causes to support. You do not have to necessarily decide on helping a single charity either – it is entirely possible to use your estate plan to support your church, a local establishment, your alma mater, or large global or international organization.
Our attorneys are able to help you sort out all of the financial and legal details of caring for the needs of whichever charity or charities you desire to donate to, aiding you in designating the amounts of finances and duration of time for these grants.
Making the Most of Your Charitable Giving in Wisconsin
When it comes to benefitting different groups of people through voluntary philanthropy, there are multiple means of providing charitable gifts.
Some of the ways that you can opt to make a charitable gift include:
- Private foundations
- Charitable remainder trusts or charitable gift annuities
- Charitable lead trusts
- Donor advised funds
Additional Benefits of Charitable Causes
Obviously the most important reason for donating to charitable causes is to help those who are especially struggling in the harsh circumstances that life has given them. However, in addition to the overall shared benefit that comes from supporting humanitarian causes – that of making our world a safer, kinder place – aiding charitable causes traditionally offers other personal benefits as well.
Many gifts offer the benefactor an income tax deduction. By saving taxes of capital gains, certain charitable strategies can increase income, which can support your family or help other humanitarian groups. They can also offer deductions on estate tax as well, which is a helpful contribution to remember when you are preparing to plan for your estate.
Flexible & Personalized Options
Planning for charity is an exciting prospect which we wholeheartedly condone, but it can also be complex to prepare for the precise legal logistics. Our knowledgeable charitable planning attorneys in Madison can give you detailed counsel on maximizing strategies for saving taxes, but can also help you find the most optimal charitable plan based on your personal convictions.