At a time when social responsibility has taken on increasing importance, legacy and planned giving offers a strategic way through tax-favored programs to ensure that causes you and your family are passionate about are able to continue their mission. Charitable objectives often include leaving a lasting philanthropic legacy through the creation of a family foundation. The foundations tend to be managed by family members, in which the family retains control over the gifted assets and access to income generated by these assets.
We offer creative solutions to achieve your philanthropic goals while supporting your family’s long-term financial needs.
An important component to any estate plan is gifting, which allows you to reduce the size of your taxable estate, making significant impacts on the wealth you have worked so hard to earn for your family.
Gifting leverages the use of the annual gift tax exclusion, the lifetime exemption, and/or the Generation Skipping Transfer Tax exemption. These gifts can be held by various entities, which allow you, the “grantor,” to retain control over income from gifted assets.